Description

Navigating payments across various countries and currencies can be a significant challenge for travel businesses such as Destination Management Companies, Online Travel Agencies, Tour Operators, and Travel Services. 

However, with the right strategic payment solution, it doesn't have to be daunting.

Discover how leveraging Finmo’s next-generation payment solution can transform your operations and fuel your growth!

Challenges

1. High Transaction Fee

   • 1.5% - 3.5% per transaction

   • Potential chargeback fee in case of disputes 

2. Hidden FX Cost

   • International credit card payments often incur high FX charges, leading to customer churn

3. Emerging and Trending Alternative Payment Method (APM)

   • Gen Y and Gen Z travelers prefer real-time bank transfer methods 

4. Multiple  Bank Accounts

   • Juggling multiple bank accounts across countries and lack of visibility makes liquidity management a hassle

5. Lack of Centralized Solutions

   • No single platform for consolidated views of balances, managing FX volatility, or paying global vendors efficiently

Solution

1. Leverage local real time payment methods that optimize for speed, convenience, and cost.

   • PayID (AUD), PayNow (SG),PromptPay (THB), E-wallets (PHP), SEPA (EUR), FPS (GBP), and more

2. Payouts via local rails

   • Seamless vendor payments without the need for local bank accounts

3. Take control of your cash

   • Real time visibility and reporting

   • Optimize returns by managing idle cash with market-leading investment products

4. Minimize your FX risk

   • Control FX volatility and stabilize your profit with FX hedging 

5. Go global and stay centralized

   • Eliminate the hassle of opening local bank accounts as you expand globally

Transform your payment strategy to support your global ambitions while reducing costs and complexity. Centralize, simplify, and grow effortlessly!