Global payments
Posted on Feb 14, 2025
Ever felt like sending or receiving international payments is like running a marathon with hurdles at every step?
Fees, delays, and confusing exchange rates make the process more complicated than it should be.
If you're an SMB owner, you’ve probably asked yourself:
Why does it cost so much to send money abroad?
Why do big companies get better rates while small businesses get the short end of the stick?
Is there a way to make this whole process simpler and less expensive?
The answer is Yes.
Let’s break it down so you can stop overpaying and start handling global transactions the smart way.
The Global Payment Maze—Why SMBs Need a Smarter Approach
Have you ever tried to make an international payment only to find out that your bank took a cut,
an intermediary bank took another cut,
and by the time the money reached your supplier, it had mysteriously shrunk?
That’s because global payments aren’t as straightforward as they should be.
Between hidden fees, fluctuating exchange rates, and slow processing times, small businesses often end up paying more than they need to.
What Are Global Payments & Why Should You Care?
Think of global payments like international travel for your money—it has to cross borders, clear checkpoints, and sometimes, deal with unexpected delays or fees.
At its core, a global payment is any transaction that moves money from one country to another.
If you run an SMB, chances are you’re making these payments all the time:
Paying international suppliers – Ordering raw materials from China or Vietnam? Your money needs a passport.
Hiring global freelancers – Your designer is in the Philippines, your developer is in Ukraine, and your content writer is in the UK. They all need to get paid—without losing a chunk to unnecessary fees.
Selling to international customers – Platforms like Amazon, Shopify, and Etsy bring in buyers worldwide, but they also bring in conversion fees that chip away at your revenue.
Bottom line? If your business operates across borders, your money should move smoothly—without getting stuck in unnecessary fees and bad exchange rates..
For example, imagine you’re an SMB in India selling on Amazon US.
Your customers pay in USD, Amazon takes its cut, converts the rest at a rate that’s definitely not in your favour, and then deposits the final amount in INR. Each step in this process chips away at your revenue.
Want a deeper dive? Check out our Essential Guide to B2B Cross-Border Payments.
SMBs vs. Enterprises—Do You Pay More? (Spoiler: Yes, But You Don’t Have To)
Let’s be honest—big corporations have it easy. They negotiate lower fees, get better exchange rates, and have dedicated banking teams ensuring they don’t lose money. Meanwhile, SMBs?
We get stuck with higher costs and fewer options.
The Hidden Costs SMBs Face
Here’s what’s eating into your payments:
High FX markups – Banks often add their own margin to currency conversion rates, which can cost you more than you realize.
Wire transfer fees – Sending money via traditional bank transfers? That’s another $30–50 per transaction.
Intermediary bank fees – Sometimes, a payment doesn’t go directly from A to B; it stops at C and D along the way, each taking a piece of the pie.
So how do you stop overpaying? By choosing cost-effective payment providers designed for SMBs. We’ll get into that next.
Read more: Are You Paying Too Much in Forex Fees for International Transactions?
Comparing the Best Global Payment Solutions for SMBs
Choosing the right global payment solution is like choosing a good coffee—go too cheap, and you’ll regret it later. But overpaying doesn’t make sense either.
Here’s how some of the top players stack up:
Looking for alternatives? Check out our guide on the Top 5 PayPal India Alternatives for International Payments.
How to Reduce Global Payment Fees as an SMB
Nobody likes unnecessary fees, and thankfully, you don’t have to keep paying them.
Here’s how to cut costs and make your global transactions work for you.
Multi-Currency Accounts – Your Secret Weapon
Ever notice how big businesses don’t immediately convert money into their home currency? That’s because they hold multiple currencies and only exchange when rates are favorable.
With a multi-currency business account, you can:
Receive payments in different currencies without immediate conversion.
Avoid unnecessary exchange rate losses.
Pay international vendors directly in their currency.
Infinity offers multi-currency accounts designed for SMBs. Check out how you can set up yours in minutes.
Timing & Batch Processing – A Simple Yet Effective Trick
Ever paid a supplier and noticed the amount fluctuates depending on when you send it? That’s because FX rates change constantly.
Here’s how to save money:
Monitor real-time FX rates – Timing your payments right can make a big difference.
Batch smaller payments together – Instead of multiple small transactions (each with its own fee), consolidate payments to cut costs.
Want to understand how exchange rates really work? Read our guide on Understanding Forex Mid-Market Rates.
Compliance & Security – What SMBs Must Know
The only thing worse than high fees? Fraud and compliance issues that can freeze your payments.
Here’s what you need to stay safe:
Know the regulations – Each country has its own rules for cross-border payments. Staying compliant avoids delays and legal trouble.
Use secure payment platforms – Fraud is a real risk in global transactions, and one wrong move can cost you big.
Understand AML & KYC compliance – Banks and financial platforms need to verify identities to prevent money laundering. Have your documents ready to avoid unnecessary delays.
For a deeper dive: Check out our guide on How to Avoid Cross-Border Payment Frauds.
Final Thoughts – The Best Payment Approach for SMBs
Don't wait until your next payment eats into your profits.
By making smarter choices—like using a multi-currency account, timing payments wisely, and choosing cost-effective providers—you can keep more of your hard-earned money.
If you’re an SMB looking to expand internationally without losing money on every transaction, now’s the time to rethink your payment strategy.
Stop letting fees eat into your profits. Start sending and receiving global payments the smarter way.
Ready to make the switch? Get started with Infinity today and take control of your international transactions!
