Improve efficiency and save on rates with PayFac
Utilising state-of-the-art technology, supplier payments can now be processed easily and efficiently with PayFac. Our system is linked to the world’s largest transactional bank; giving you unrivalled rates and access to over 130 currencies in 180 countries.
Find out more about PayFac.
Expand safely into new international market with MCP+
Travel businesses must make it as easy and efficient as possible for customers to pay in their local currency, without creating undue exposure to currency fluctuations and risk potential cost implications.
EQGlobal's Multi-Currency Pricing with Guaranteed Rates tool goes a step further from a conventional multi-currency solution. Our tool allows both B2C and B2B travel businesses to sell to their customers in local currency whilst negating foreign currency risk. MCP ensures that an exchange rate is locked in when a customer makes a purchase and is guaranteed through to settlement to suppliers; ensuring that profit margins are locked in on a per purchase basis.
Benefits for travel companies
As soon as a customer purchases a holiday, the business commits to paying their suppliers on or before the date of travel, whether six days or six months from the date of purchase. This period of time can represent a substantial risk when the currency a customer has paid differs to the currency the business owes to the suppliers; a small exchange rate move can have a disproportionately big effect on margins and even lead to losses.
Travel businesses have typically turned to forward contracts to mitigate potential risks but it’s a costly, inaccurate and sometimes complicated process. EQGlobal's MCP automatically links the value owed by the travel business to its respective supplier. This technology removes the need for forwards and provides organisations with a tool that can micro-hedge risk on every sale in real-time:
Expand into new countries using prices displayed in local currencies
Eliminate FX risk
Increase profits and customer loyalty
Lock in a profit margin on every customer purchase
No FX margin to pay
No need to hedge ‘ad hoc’, predicting FX flows and trying to second guess currency movements
Delivered via our in house developed platform, PayFac, and utilising a simple set of API’s, MCP helps to automate your foreign currency hedging and ensures you protect yourself with minimum effort and no manual intervention.