X-Border Payments

Secrets to understand Payment Market Infrastructures – Sweden part 1

Is there a secret to easily understand payments systems in any country?  Do you know the payment market infrastructures of your country and how they are structured? This is the first of a series of videos where we will examine payment market infrastructures of a few countries in the world. And we begin with Sweden. …

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Main benefits of the TransferMate Solution

TransferMate’s unique receivables solution enables businesses to reduce debtor days, eliminate bank fees and gain full visibility on cash flow

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 …

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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 …

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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 …

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MT400 SWIFT Message to confirm the collection of funds and announce the proceeds

Usage of MT400 SWIFT Message to announce the proceeds

The MT400 SWIFT Message is an advice of payment sent by the collecting bank to the remitting bank. A lot of things happen before the funds are collected and the MT400 message is sent. That is why in a previous article, we explained what documentary collections are and the roles that collecting and remitting banks …

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Collecting Bank and Remitting Bank in SWIFT Category 4 Messages

Collecting Bank and Remitting Bank in SWIFT Category 4 Messages

SWIFT category 4 messages (part 1) are about payment collections. In the SWIFT standards documentation, we read that these messages are exchanged between the collecting bank and the remitting bank. And unless you know what is a collecting bank and what is a remitting bank, it is not easy to understand those messages. So the purpose …

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SWIFT MT101 Usage to pay from Parent Company on behalf of subsidiaries

SWIFT MT101 Usage by parent company to pay on behalf of subsidiaries

The previous article was about the usage of the SWIFT MT101 by a parent company to pay from a subsidiary account. A parent company can also use the SWIFT MT101 to pay from own account on behalf of multiple subsidiaries. In this article, we will see how this is performed and the information that must …

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