Businesses that make payments to foreign suppliers will frequently do so in USD. For many businesses, the United States is an obvious supplier destination as USD is the world's most widely accepted currency.

Two common problems businesses face when trying to send money across borders especially in USD are:

  • Time constraints: Sending money across borders via traditional banking methods usually comes with delays due to country-specific regulations and due processes for security, especially nowadays where wire fraud is very common.
  • Costs (Hidden fees): The complexities of traditional banking systems, settling cross border payments are expensive, sometimes costing up to 10% of the transaction volume.

This is where Fincra comes in. Fincra’s payout feature helps to facilitate seamless cross-border payments for global businesses, therefore making paying your suppliers in the US less of a hassle.

Fincra allows registered merchants to transfer money to suppliers or customers via merchant portal or API in multiple currencies such as USD, GBP, EUR, and NGN, and track the disbursement in real time.

Benefits of using Fincra to Make Payouts To Suppliers

  • Secure Infrastructure: Our secure infrastructure makes it possible to transact on our platform without the risk of fraudulent activities and fear of hacking. Fincra is safe, secure and licensed.
  • Cheaper Transaction Fees: Fincra offers payouts in USD amongst other currencies, at the best rates, without any hidden fees.
  • Reduced Transaction Time: Cross-border payments via traditional methods usually take about 3 to 5 days, sometimes longer, but with Fincra, faster processing and local settlements are guaranteed, therefore making payout delivery quicker and more efficient.

How To Make Payouts To Suppliers On Fincra.

The first step is to create an account for your business on Fincra, if you already have one simply log in.

After this, you navigate to the “Make Payout” button on your dashboard, fill in the necessary details and proceed to make the payout as desired.

We have also created a step by step tutorial on how to make payouts through your Fincra merchant portal to walk you through the process and ensure you do not encounter any difficulties throughout the payout process.

Making payouts to suppliers with Fincra is a relevant solution in modern business today as it makes cross-border payments easier, at cheaper rates and in record time, therefore creating ease in running a global business.

As a registered merchant, you can send money to your suppliers in the US like a local while avoiding the challenges associated with receiving payments through other traditional means. Fincra is safe, secure and licensed. Ready to get started? Contact us today.