Guest Blogger: Paul Rechner, President, Payline by ICE
Working in a variety of roles in the Canadian corporate foreign exchange industry for the past 10 years, Paul Rechner has brought to Payline by ICE a vision for growth and expansion while holding firm to our primary tenets of ethical business practices and customer service.
Most businesses need growth to survive. Few survive the test of time without looking at new products, new processes and new markets. All of these can be intimidating by taking us out of our comfort zone, but what could be more foreign than expanding into markets in other countries with different norms, practices, consumers and prioritization of needs? You wouldn’t likely be making the expansion if you didn’t have good reason to believe that your product would be valued there, but as with all commerce, it will require the efficient flow of funds for a venture to be successful.
Payline by ICE and Telpay have partnered for years to provide clients with access to Telpay’s International Payments Module. This software allows for you to send payments in over 140 currencies to most countries around the world, with transparent pricing, and all the convenience you have already come to expect from Telpay. Tired of wire fees ranging from $20-$75 or more? International payments made through Telpay cost only $2 per transaction, and the exchange rates are, in most cases, superior to those offered by your bank.
As you look to expand into new territories, there are often exploratory and set-up costs associated with the venture. As Canadians, we have it ingrained to go to our bank for most every financial transaction. The general rule is, the more you send, the better the pricing. Most businesses don’t send enough to benefit from special rates and fees. By working with an International Payments specialist like Payline, we aggregate the transactions of numerous clients, and take that to the bank to get better pricing than the individual transactions would receive. We pass on a portion of those savings, allowing us to demonstrate cost-savings to our clients. The best part is that it’s made easy and convenient, working through a system that you already know and understand.
As your business grows in new markets, you will presumably start receiving foreign revenues from those territories. Through your account with Payline by ICE, you’ll be able to access our help in converting those back to Canadian Dollars, or into another currency as you expand into yet further territories.
While there are many stresses involved with growing your business internationally, dealing with the movement of funds doesn’t have to be one of them. Visit International Payments for more information about getting started.