TransferMate’s unique receivables solution enables businesses to reduce debtor days, eliminate bank fees and...
B2B Payments Company offers an easy-to-use solution to get paid faster while automating invoice reconciliation
TransferMate Global Payments, one of the world’s leading cross-border B2B payments providers, has deployed an advanced receivables solution to businesses around the world. The payments solution enables TransferMate clients to reduce their days sales outstanding (DSO) while gaining control and...
Blockchain explained and its application to payments
Well, year 2019 has just passed on the baton to 2020 and we have wrapped up the decade with a lot of technological advances. Past decade has seen a considerable phase shift in terms of technology; and I have to say Blockchain is one the biggest breakthrough that has been achieved. Although invented in...
Cash Management definition and basics
As payments payments professionals, we are sooner or later confronted with this question: Do you know Cash Management and the payment messages involved? When I was asked that question the first time, I was a bit puzzled even if I later realized that it is not rocket science. In fact, if you are a...
Standby Letter of Credit: How it works
In the previous article, we introduced the Standby Letter Of Credit (SLOC) and looked at the steps of its issuance and notification. The next question now is what happens after. In this article, we will see how it works.
In summary, there are two possibilities:
The Standby Letter of Credit is not put into play....
Differences between SEPA, SWIFT and UK Faster payments
When you begin your journey in payments, you can easily feel overwhelmed because of the many types of payments and payments systems available out there. How to easily understand what they are and how to differentiate them?
In this article, we revisit one key concept and explain the differences between SEPA Payments, UK Faster Payments...
The Standby Letter of Credit – Definition, Issuance and Notification
Another prominent payment technique used in international trade is the Standby Letter of Credit. What is a Standby Letter of Credit (SBLC)? How is it different from a Letter of Credit? How do issuance and notification of a Standby Letter of Credit work? ... This article provides the answers to these questions.
We already know...
Documentary credit process with a confirming bank
After the issue and the notification of a documentary credit, the next step is its actual processing. As we saw in a previous post - Documentary credit - Definition, main actors, how it works - the exporter's bank can play two roles: 1) It may just notify the exporter that there is a documentary...
Documentary credit process with a notifying bank
After the issue and notification of a documentary credit, the next step is its actual processing. As we saw in the previous post - Documentary credit - Definition, main actors, how it works - the exporter's bank can play two roles: 1) It may just notify the exporter that there is a documentary credit...
