The Banking Circle® has been created to provide a faster and more cost-effective way for businesses to make and receive international B2B payments. By becoming a Member of the Saxo Payments Banking Circle – which is open to any FinTech business (card acquirer, payment gateway, P2P lending business) or other tech related enterprise – a business can provide bank transfer capabilities in its own name, competing directly with the banks in terms of offering the ability for merchants to pay suppliers and partners around the globe at low cost.
Members of the Saxo Payments Banking Circle can extend their value chain to also include the ability to handle cross border bank transfers for their customers. This not only enhances their value proposition but delivers significant cost savings to their customers.
Merchants can also benefit by joining the Banking Circle. Merchant Members can reduce the cost of international bank transfers significantly, sending and receiving transfers instantly and without incurring a landing fee to a recipient within the Banking Circle – no matter where they are in the world.
Payments made to non-members of the Banking Circle can be made at low cost typically enabling the non-member to receive payment in one day – irrespective of location.
Underpinned by a state-of-the-art banking platform
Unlike conventional business to business cross border payments that incur high bank charges and can take days to arrive, Members of the Banking Circle can enjoy cost and time savings when making or receiving international payments.