Fintech Juni enables Cross-border Payments to the US and mainland China for European ecommerce businesses
Today Juni, the financial platform built for digital commerce, has enabled its cross-border payments capabilities, facilitating transactions to the US and mainland China for its customers across Europe.
Businesses operate in an increasingly globalised world and data shows that the global B2B cross-border payments market is expected to total $56.1tn by 2030. Digital commerce businesses need to be able to easily source inventory, pay vendors, contractors and do intercompany transfers on an international scale.
To enable its customers to transact with overseas vendors and partners, Juni is extending its Send Money product which will now allow EEA-based companies to make Cross-Border Payments to mainland China and the US. Payments can be made directly and securely from the customer’s Juni USD account.
The launch is another step to realise Juni’s vision of becoming a banking alternative for digital commerce businesses, and strengthening its core banking feature offering.
“Legacy banks often struggle to offer competitive international transfers with a smooth customer experience and it’s something we know is incredibly important to our customers,” says Samir El-Sabini, CEO & Co-founder of Juni. “Our new cross-border payments feature ensures ecommerce businesses can pay vendors, suppliers and do intercompany transfers easily. This is one of many steps we’re taking to become a banking alternative for our customers.”
Businesses working with global entities can use Juni to move money between multi currency IBAN accounts in USD, GBP, EUR, NOK and SEK, with account payments FX capped at 0.5%.
“We’re really excited to bring this feature to market”, says Shelley Havemann, Senior Director of Product at Juni. “By facilitating USD to USD international transfers simply and efficiently, we strengthen our banking proposition while laying the foundation for expanding our invoice management offering to include inventory payments. We will look to add additional jurisdictions in the coming months.”
Cross-border Payments to the US and mainland China will be available for ecommerce businesses across the EEA. The aim is to make the feature available to businesses in the UK in the second half of 2024. For more information, visit juni.co/business-accounts-and-
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