Ever struggled with high conversion fees and long waits to send and receive money globally?
Whether you are an individual transferring money or a business expanding internationally, cross-border payments can be a tough chase. But, with advanced technologies and the coming of cross-border payment platforms, it has improved a lot and makes it much more efficient than before.
In this blog, we will discuss cross-border payment and how EFIcyent is a great choice to choose as a cross-border payment platform for international transactions.
What are cross-border payments?
Cross-border payments are the transactions in which the sender and recipient are in different countries.
Let’s understand this with an example:
Suppose you are in the USA and want to buy a painting from an artist in Singapore. Since you are both in different countries, how will you transfer the amount for the purchase?
That’s where platforms like EFIcyent prove to be highly beneficial!
With such payment platforms, you can transfer money from USD to SD quickly and at a lower flat fee, without going through any multiple complex steps.
The currency conversion between two countries will be fast and seamless, allowing you to make smooth international transactions.
How do cross-border payments work?
Cross-border payments usually take place through banks, payment networks or financial mediators like EFIcyent. The money transfer process is as follows:
- The currency to be transferred is deposited into the accounts of trusted financial platforms like EFIcyent.
- The conversion happens through the platform from sender’s currency to receiver’s currency.
- The platform basically charges a fee and once that step is also done, the amount is processed and transferred to the recipient’s account instantly or within a specific time duration.
Thus, the international transaction is completed.
But cross-border payments also come up with a lot of challenges. High transaction fees, lack of transparency about the transactions and slow processing time are the main setbacks.
That’s where EFIcyent comes in!
Let’s know more about EFIcyent and what makes it the best choice for cross-border payments.
What is EFIcyent?
EFIcyent is a digital platform that helps in making international payments easier. It makes cross-border payments faster, affordable and accessible for both individuals and businesses.
Key features of EFIcyent
EFIcyent offers a range of features for a smooth international transaction. Let’s dive into the key features of EFIcyent:
- EFIcyent helps to send and receive money from anywhere with a USD account without opening any foreign bank accounts.
- It has a fixed flat fee of 4.5 USD for personal and 7 USD for business account transactions.
- It ensures that funds reach the recipient’s account instantly without waiting for a long duration of time.
- The platform is user-friendly and it allows the users to do the transactions for low conversion fees without any hidden charges.
- EFIcyent enables businesses to expand their operations easier in international markets as it simplifies the process of managing international transactions hassle-free.
How EFIcyent makes cross-border payments seamless
- Sign Up: Create your account on EFIcyent and access your USD wallet instantly.
- Add funds: Deposit funds to your wallet using the supported payment methods available on the platform.
- Send and Receive: Transfer money worldwide or get paid in USD without delays.
- Withdraw Anytime: Transfer your USD to your local bank whenever you need.
Conclusion
Global opportunities are expanding and payment transactions with international clients are now easier than ever.
The only challenge? Choosing the right platform for seamless payment transactions.
Having a virtual USD account on platforms such as EFIcyent will be a reliable solution to a greater financial flexibility. These platforms are making cross-border payments more convenient for us.
Whether you are a freelancer, business owner or just need to transfer funds internationally, EFIcyent makes your global reach wider with smooth transfers without you having to stress about the transparency in the process.
It promises effortless and convenient transfers, as it provides a secure and efficient way to handle USD transactions worldwide.
Therefore, EFIcyent is an excellent option when you want to send or receive payments internationally.
When next time you want to send a payment to a different country or receive money, try EFIcyent for a hassle-free experience.