Electronics Trading

How a UAE-Based Electronics Trading Company Streamlined International Payments with Hubpay

Discover essential steps to start a trading business in Dubai, including legal requirements, marketing strategies, and cross-border payments.

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.

Open a free multi currency account with Hubpay

We help companies all around the globe to send money in the easiest and cheapest way using multiple currencies. Talk to Hubpay Corporate FX team today

Share this case study on

Hubpay enables seamless Corporate FX payments all around the globe

Benefits of our multi-currency account

Hubpay offers best-in-class benefits, allowing you to focus on growing your business while we handle your payment needs seamlessly.

Virtual IBAN

Access named Virtual IBANs in multiple currencies, allowing direct local payments to simplify cash flow and reduce international transaction costs.

Payment links

Request payments from your suppliers by uploading beneficiary details and creating payment requests. Speed up your collections with fewer manual errors.

Hedging

Protect your business from market volatility by locking in exchange rates with a 5% deposit, ensuring stability against currency fluctuations.

Hubpay supports many businesses

  • Foodstuff

    Seamless payments for Foodstuff

  • Agro Commodity

    Multi currency account for Agro Commodity traders

  • Construction & Building Materials

    Seamless payments for Construction businesses

  • Medical & Healthcare

    Payment collections for Medical & Healthcare

Construction & Building Materials

Seamless payments for Construction businesses

Construction & Building Materials

Seamless payments for Construction businesses

Construction & Building Materials

Seamless payments for Construction businesses

Medical & Healthcare

Payment collections for Medical & Healthcare

Medical & Healthcare

Payment collections for Medical & Healthcare

Medical & Healthcare

Payment collections for Medical & Healthcare

Agro Commodity

Multi currency account for Agro Commodity traders

Agro Commodity

Multi currency account for Agro Commodity traders

Agro Commodity

Multi currency account for Agro Commodity traders

Foodstuff

Seamless payments for Foodstuff

Foodstuff

Seamless payments for Foodstuff

Foodstuff

Seamless payments for Foodstuff

Get your free multi currency account

Multi-currency global account made for UAE Businesses. Get a free consultation for your business.