DECEMBER 9, 2023
As a global business or a business aiming to reach a global level, you should have reliable means to conduct and receive cross-border payments. Explore more.
cross border
payment solutions
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Cross-border payments: a must-have feature for modern-day businesses
From a fintech perspective, countries have digital boards that are difficult to cross. Nevertheless, it’s exactly what you have to do in order to expand your customer reach and acquire foreign clientele. Accepting cross-border transactions is the main step towards business growth and additional revenue streams. However, adopting this functionality can be a technically challenging project.
Let DashDevs — a cross-border payment service provider, channel you with the world of international finance.
Cross-border payment processing via banking API
Cross-border payment processing is typically enabled through a banking API integration.
It allows an app to receive a cross-border payment request from a customer, and pass it to the banking network via a cross-border service vendor. Then, the process is executed in a typical way, with a payment gateway and processor accepting and rerouting the transaction, card networks processing it, an issuing bank transferring the transaction, and an acquiring bank settling the funds into the receiver's bank account.
Why to get started with cross border payments
Here at DashDevs we understand that every business owner needs a good reason to invest in a new functionality for their platform or app. Here’re the main benefits you obtain by starting to accept international transactions.
access to
global
market and
international
customers
Book a callMost of the business value of cross border payment adoption comes from access to foreign markets and their local consumers, respectively. Making your business more accessible through international payment solutions promises to increase revenue potential. And that one reason is already enough in most instances.
Competitive
Edge
Book a callImplementing cross-border payment solutions allows to position your company as a global player. It provides businesses with a competitive edge, compared to less technologically advanced companies, focusing on local markets only.
Most of the business value of cross border payment adoption comes from access to foreign markets and their local consumers, respectively. Making your business more accessible through international payment solutions promises to increase revenue potential. And that one reason is already enough in most instances.
Book a callImplementing cross-border payment solutions allows to position your company as a global player. It provides businesses with a competitive edge, compared to less technologically advanced companies, focusing on local markets only.
Book a callhigher
customer
satisfaction
Book a callIntegration of cross-border payment solutions instantly boosts satisfaction by offering seamless processing, multiple currency options, faster processing, lower fees, and secure, localized payment methods. Moreover, by delivering a smoother, more reliable payment experience, you additionally gain recurring international customers.
flexibility in
the payment
options
offered
Book a callAdoption of international payments provides the flexibility to offer various payment methods tailored to different regions, like the support of local e-wallets. This adaptability is particularly crucial in industries where businesses must cater to diverse market needs.
Integration of cross-border payment solutions instantly boosts satisfaction by offering seamless processing, multiple currency options, faster processing, lower fees, and secure, localized payment methods. Moreover, by delivering a smoother, more reliable payment experience, you additionally gain recurring international customers.
Book a callAdoption of international payments provides the flexibility to offer various payment methods tailored to different regions, like the support of local e-wallets. This adaptability is particularly crucial in industries where businesses must cater to diverse market needs.
Book a callPossibility of
cooperation
with Foreign
Businesses
Book a callBeing able to send and accept cross border payments not only boosts your ability to serve customers. It also facilitates your collaboration with individual entrepreneurs and other businesses. An increase in payment options available is easily the best way to maximize the pool of businesses you can potentially partner with in one or another way.
Being able to send and accept cross border payments not only boosts your ability to serve customers. It also facilitates your collaboration with individual entrepreneurs and other businesses. An increase in payment options available is easily the best way to maximize the pool of businesses you can potentially partner with in one or another way.
Book a calllooking to adopt cross-border payments? Let experts handle
Cross-border payment vendors we can integrate
DashDevs has extensive experience with setting up international payments. We can help you get started with cross border transfers by integrating any of the major vendors, including:
Cross-Border Payment Features We Implement
Payments & Payouts
Split Payments
Subscriptions
Dynamic Currency Conversion
Next-Day Settlement
Global Reach
Fraud Protection
Built-In Compliance
Multi-Currency Support
Localized Payment Methods
Cross-Border Refunds
Tax Management
Chargeback Management
Automated Reconciliation
Customizable Reporting
Customer Verification
OUR cross border payment solutions
International wire transfers
This method securely and quickly transfers funds between global banks via the SWIFT network. Ideal for large, urgent cross-border transactions and international business payments, though higher fees and detailed recipient information are required.
International money orders
International money orders include purchasing and sending a money order overseas for the recipient to cash or deposit. It’s reliable but slower and less convenient, often used when international payment solutions or ecommerce payment gateway integration aren’t available.
International ACH
With International ACH transfers funds electronically between banks using the ACH system. It’s suited for smaller, regular payments like payroll, making it a cost-effective option for B2B cross-border payments, though processing times can vary by country.
Prepaid debit card transactions
This cross-border payment approach loads money onto a prepaid debit card, which the recipient can use for purchases or cash withdrawals. It’s convenient for regular remittances and small cross-border payments, but may involve loading and withdrawal fees.
Online money transfers
Online money transfers allow the transferring of money through online platforms or apps. It’s fast, convenient, and often more affordable than traditional banking options, ideal for personal remittances and international payments for small businesses, including ecommerce payment gateway integration.
Paper checks
Paper checks is a traditional payment method. It involves sending a check by mail for the recipient to deposit. While less common due to slower delivery and the rise of global payment solutions, it remains an option when electronic cross-border solutions aren’t feasible.
Digital wallets
With digital wallets, users stores and transacts multiple funds through apps. This method offers a quick and convenient way to make cross-border payments and international payment processing via mobile or online platforms.
Cryptocurrency transactions
We cover the product lifecycle from start to successful release and provide further inclusive support. Our team has your back from the initial consultation, to testing and post-release maintenance. We can help you every step of the way, and create the software of your dreams from scratch.
iOL Pay
Learn more about iOL Pay
Global hospitality payment solution
iOL Pay is a global automated payment acceptance solution for the hospitality industry.
Our Input: In this project, the DashDevs team created a B2B/B2C platform for accepting payments that includes native transaction processing, including cross-border transaction processing. We ensured an easy integration of the ready solution with any hospitality booking system.
Functionality:
UI/UX design
Solution architecture
iOS development
Android development
Back-end development
Front-end development
Quality assurance
Cloud & DevOps
Business analysis
Project management
Learn more about our cases
Why Choose DashDevs as Your Development Partner?
Transparency and Clear Communication
Our team keeps consistent communication with the customer. We provide updates regularly and maintain a professional code of conduct and utmost transparency.
Risk Management
Our team excels at identifying, assessing, and managing risks throughout the project lifecycle. We focus on early detection and rapid response, minimizing potential impacts and maintaining project stability.
appropriate Client Involvement
Depending on the collaboration model, clients may be engaged in the project on different levels. DashDevs can simply assist with management or handle the project end-to-end ourselves, ensuring the desired level of involvement.
agility and Flexibility
Here at DashDevs we value flexibility. With our change management practices, we can follow requirements tightly. Besides, our team are agile, can operate independently, and can work with members from different time zones.
Continuous Improvement
Being professional means being in the process of constant improvement. Our team is constantly learning new skills and honing our mastery of the existing ones to deliver the best results.
business-oriented approach
We prioritize your business goals in every step of the project. Our approach is data-driven and customer-focused, ensuring solutions that maximize ROI and align with market trends.
Faq
What is cross-border payment solutions?
Cross-border payment solutions are software integrations that facilitate the transfer of funds across international borders. They encompass various methods, such as wire transfers, digital wallets, and cryptocurrency transactions, and are essential for cross border transactions, international business payments, and e-commerce payment gateway integration.
Which is the best cross-border payment gateway?
The best cross-border payment gateway depends on your business needs. Leading cross border payment companies offer gateways that support international payments, seamless ecommerce payment gateway integration, and efficient international payment processing to optimize both B2B and consumer transactions.
How to choose a cross border payment solution?
To choose the right cross border payment solution, consider the following factors:
- Fees
- Security
- Compatibility
- Customization and branding opportunities
- Customer support
- Compliance and cybersecurity protection
How should cross-border payments be handled?
Cross-border payments should be handled using secure, compliant international payment solutions that minimize fees and processing times. Choosing the right crossborder solutions ensures smooth cross-border transactions and supports the global expansion of your business.
What is an example of a cross-border payment?
An example of a cross-border payment is a company in the U.S. paying a supplier in Germany through an international payment platform. This international business payment requires efficient global payment solutions to ensure the timely and secure transfer of funds.
What are the fees for cross-border payments?
Fees for cross-border payments vary based on the method used. They typically include currency conversion costs, transaction fees, and intermediary bank charges. For example, PayPal charges a standard fee of 4.4% for international transfers. Bank transfers flat fees vary from $15 to $50 per transaction.
