FX & Cross-Border Payments · Use case

Pay international contractors and suppliers

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Short answer

A cross-border payouts provider converts your funds and delivers them through local rails in each destination where possible, with SWIFT as the fallback. Predictable fees, validated beneficiary details and tracking are what make it work at volume.

What this use case is

A cross-border payouts provider converts your funds and delivers them through local rails in each destination where possible, with SWIFT as the fallback. Predictable fees, validated beneficiary details and tracking are what make it work at volume.

Who builds this

Marketplaces and gig platforms
Payroll and contractor platforms
Companies paying suppliers abroad
Creator platforms

What your customer sees

  1. 1Contractor or supplier adds bank details
  2. 2Gets paid in their currency
  3. 3Receives a notification with the amount

How FX & Cross-Border Payments solves it

1

Beneficiary details collected and validated

Beneficiary details collected and validated

2

Payout created via API or batch

Payout created via API or batch

3

Funds converted at a quoted rate

Funds converted at a quoted rate

4

Routed via local rails or SWIFT

Routed via local rails or SWIFT

5

Status tracked to delivery

Status tracked to delivery

6

Returns and exceptions handled

Returns and exceptions handled

7

Reconciliation data returned

Reconciliation data returned

Want to have

  1. Corridor and currency coverage
  2. Beneficiary validation
  3. Batch and API payouts
  4. Quoted rates
  5. Tracking
  6. Returns handling
  7. Reconciliation data

Optional

  1. Payee self-service for bank details
  2. Payouts to wallets
  3. Tax form collection

Design decisions

Who bears fees

You
Beneficiary
Shared

predictability for payees versus cost.

What to put in your RFP

Corridors

  • currencies
  • local or SWIFT

Payouts

  • batch
  • API
  • validation

Pricing

  • margin
  • fees

Tracking and exceptions

  • Tracking and exceptions

Commercials

  • Commercials
Add these to an RFP

How to evaluate providers for this use case

  1. 1Coverage for your payees
  2. 2All-in cost on top corridors
  3. 3Failed-payment rate
  4. 4Tracking

Pitfalls

  • Poor beneficiary data causing returns
  • Hidden intermediary fees
  • Assuming local delivery everywhere

What providers will ask you

  1. Payee countries and currencies
  2. Volumes
  3. Payout frequency

Other Finlane categories that cover parts of this

This use case is solved mainly with FX & Cross-Border Payments. These categories cover specific parts of it and can be tendered alongside it.

Payroll & Benefits Infrastructure

Contractor compliance and documents

Banking-as-a-Service

Funding accounts

Crypto & Stablecoin Infrastructure

Stablecoin payouts where suitable

Frequently asked questions

Solving this with another category instead? See Run global contractor payments

Other FX & Cross-Border Payments use cases

Offer multi-currency accounts to customers

Give business or consumer users named accounts and balances across major currencies.

Collect from customers abroad locally

Receive payments through local rails and settle to your home currency automatically.

Hedge FX exposure programmatically

Book forwards or spot trades via API to lock in rates for future payouts or receivables.

Scope pay international contractors and suppliers with FX & Cross-Border Payments providers

Scope this use case