The Challenge
A reputable UAE-based general trading company, operating for over 30 years, faced significant challenges in managing its international payments through multiple banks. Despite having established relationships with these banks, the company encountered two main issues:

• Delayed payments to suppliers in Asia and South America, affecting inventory replenishment and cash flow.

• High transaction costs associated with foreign exchange conversions and bank fees, which were impacting profit margins.

Hesitant to switch providers, the company’s CEO decided to explore Hubpay's Corporate FX services to address these challenges.

The Solution
After learning about Hubpay’s efficient payment solutions, the client initiated a trial transaction of $500,000 to a supplier in India. The payment was completed within T+1 days, showcasing Hubpay’s reliability and speed. Additional benefits included:

• Faster payment settlements for suppliers in challenging markets like Brazil and Turkey, ensuring timely deliveries.

• Reduced costs for foreign exchange transactions, improving the overall financial health of the company.

The Results
Within three months, the company transitioned 70% of its monthly invoices to Hubpay’s platform, processing payments to:

• India

• Turkey

• Brazil

• Vietnam

• Indonesia

Key Stats:

• $7 million processed through Hubpay in just three months

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

• Enhanced efficiency and reduced delays in payment processing across key international markets

Looking Ahead

As the company continues to rely on Hubpay for its international payments, they have successfully streamlined their operations, improved cash flow, and minimized delays. The transition to Hubpay's Corporate FX platform has enabled the business to thrive in a competitive trading environment.