For sending money to Ghana, Fincra merchants can use Fincra’s Payout feature and send money to beneficiaries in Ghana.
The acceleration of globalisation in the 18th century has increased global interactions, which has caused a growth in international trade and the exchange of values, ideas, cultures, and beliefs. The expansion of global markets has made economic activities between countries and continents easier and faster.
Yet, despite this era of globalisation, where everything from ideas to business partners and customers from anywhere in the world is a click away, the ease in the exchange of value (money) has not grown at the same pace, especially in Africa. Critically, considering how important money is in implementing business ideas and opportunities, the difficulties in cross-border transactions remain a spanner in the works for businesses across Africa.
For businesses across Africa to compete with the global standards in operation efficiency, ease of doing business etc., the facilitation of cross-border transactions across the continent has to get better. There are still significant obstacles with the traditional payment channels for African businesses looking to expand or scale. Businesses across the continent still struggle with access to foreign currencies to make payments to trade. There is still that growing risk aversion from global banks concerning transacting with African banks.
With over 70% of the more than 100 million businesses in Africa facing these cross-border payments challenges, fintech companies are providing solutions, and Fincra is leading the mission of transforming the payment landscape in the continent.
With Fincra’s stack of payment infrastructure and APIs focused on helping businesses with payment solutions, we offer products and features that make cross-border payments as easy as sending a text message.
For this article, we will be focusing on sending money to Ghana.
Businesses in Ghana can receive payment from partners, suppliers, investors, etc., from anywhere without hassle. Fincra is making it easy for international transactions with its Businesses to Business platform, which provides solutions that facilitate international payments for multinational companies, fintechs, e-commerce and hospitality businesses, etc.
For example, a business in Ghana wants to receive money from its investor, partner or customer anywhere. The investor can use our Payout feature to make payments in USD, GBP, or EUR (from Nigeria, onboarded merchants can make in NGN). Our Payout feature automatically converts the currency into GHS (Ghanaian Cedi) and sends it to the beneficiary’s bank account. Easy right?
From the start, you can send money to your Virtual Account, which then settles into your Wallet. You can make payouts to anywhere, including Ghana, from the Wallet.
With Fincra’s Payout, you can send money directly to your beneficiary’s account in the local currency-GHS in this case.
With Fincra, it’s this easy, and that’s a mission that drives the whole company—making the most complex cross-border payments as easy as sending a text message.
Have any need to send money to Ghana or anywhere? Fincra has Payout features that will meet those needs.