Remittance

Sending cross-border payments can often be complex. Our platform is designed to minimise the operational and financial challenges of launching and scaling remittance fintechs, as well as supporting more mature businesses.

Our collection accounts enable remittance companies to hold a monetary balance with Clear Junction, and we can provide access to Faster Payments, SEPA and SEPA Instant. By partnering with Clear Junction, remittance and online money transfer companies can receive funds and send them to recipients around the world.

Remittances. Made possible by Clear Junction.

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Challenges

Establishing and maintaining banking relationships for remittance companies can be difficult due to the perceived higher risk associated with money transfer businesses. Many banks are hesitant to work with remittance companies, leading to account closures or limited access to banking services.
High transaction costs, including fees associated with currency conversion, international transfers, and intermediary banks, can eat into the margins of remittance companies. Finding cost-effective payment solutions that offer competitive exchange rates and low fees is a constant challenge.
Access to reliable payment networks and infrastructure is essential for remittance companies to facilitate cross-border transfers. However, not all payment networks may be available or accessible in every region, limiting the reach of remittance services.
Fluctuations in exchange rates can impact the profitability of remittance companies, especially those operating in multiple currencies. Managing currency risk and offering competitive exchange rates to customers while maintaining profit margins can be challenging.
Customer Trust and Satisfaction: Building and maintaining trust with customers is vital for remittance companies, particularly in light of security concerns and regulatory scrutiny.

Possibilities

At Clear Junction we understand the difficulty faced by remittance companies in establishing accounts. We are able to help and service remittance companies.  

Clear Junction provides a transparent fee structure, which gives remittance companies full visibility of their fees they will incur on making cross border payments, unlike the traditional methods when you do not understand the fees until the transaction has been received.

Clear Junction understands remittance companies and can provide access to additional currencies, enabling them to provide value add services to their customers.
 

By working with Clear Junction, you can manage your exchange rates and gain access to FPS and SEPA Instant to provide real-time transitions, enabling you to offer competitive rates. 

Working with an established company like Clear Junction will enable you to build trust with your customers by providing you with a service that is reliable, transparent with compliance and regulation at its core
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Today, Ripple, the leader in enterprise blockchain and crypto solutions, announced a new partnership with Clear Junction, the global leader in cross-border payments solutions for regulated institutions. The partnership will see Clear Junction facilitating instant...

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