The Challenge
A leading UAE-based electronics trading company, known for its diverse range of consumer and industrial electronic products, faced significant hurdles in managing its international payments through multiple banks. Key challenges included:

• Delayed payments to suppliers in Asia and Europe, which led to inventory shortages and disruptions in product availability.

• High transaction costs associated with foreign exchange conversions and banking fees, negatively impacting profit margins.

Recognizing the need for a more efficient payment solution, the company’s CFO decided to explore Hubpay's Corporate FX platform.

The Solution
After learning about Hubpay’s seamless payment solutions, the client conducted a test transaction of $750,000 to a supplier in China. The transaction was completed within T+1 days, showcasing Hubpay’s ability to handle payments quickly and reliably. The company also experienced:

• Faster settlements for suppliers in Japan and South Korea, ensuring timely deliveries of essential products.

• Cost savings through competitive exchange rates and reduced transaction fees, enhancing overall profitability.

The Results
In just three months, the company transitioned 70% of its monthly invoices to Hubpay’s platform, successfully managing payments to:

• China

• Japan

• South Korea

• Germany

• India

Key Stats:

• $6 million processed through Hubpay in just three months

• Settlements completed within T+1 to T+2 days

• Increased efficiency and reduced payment delays across key supply chains

Looking Ahead
With the electronics market in the UAE continuing to thrive, the trading company has positioned itself for growth by leveraging Hubpay’s Corporate FX platform. By streamlining its payment processes, the company has improved cash flow and minimized delays, enabling it to meet the demands of a competitive industry.