B2B payments collection and the global pattern of trade have undergone a significant transformation in recent decades, partly driven by the emergence of dynamic economies in the Southeast Asia region. Countries such as Indonesia, Thailand, Vietnam, and the Philippines have played a pivotal role in shaping this shift. These emerging economies have emerged as major players in the global trade landscape, as both exporters and importers.
In this context, businesses exporting to these emerging markets may face the challenge of efficiently collecting payments from their international businesses and marketplaces. If you’re one of them, SUNRATE's global collection account serves as a reliable solution to alleviate your concerns.
About SUNRATE’s global collection capabilities in emerging markets:
SUNRATE provides comprehensive assistance in streamlining payment collections from emerging countries. By leveraging its expertise and robust payment solutions, SUNRATE empowers businesses to navigate the complexities of collecting funds from these emerging economies, ensuring secure and efficient transactions.
In 2020, SUNRATE introduced a comprehensive payment solution specifically designed for the Indonesian market. With the fund transfer operator license, issued by Bank of Indonesia, the central bank of Indonesia, we ensure a secure and efficient Indonesian Rupiah (IDR) settlements. With SUNRATE, you can conveniently and swiftly arrange direct supplier payments, offering you enhanced speed and convenience.
By collaborating with renowned international banks, SUNRATE has expanded its capabilities to facilitate local fund collection in Thailand for businesses. This solution encompasses additional advantages such as global supplier payments, offering businesses a secure and efficient localised payment solution.
The process of opening a bank account in the Philippines involves extensive documentation and significant waiting periods. Leveraging our established connections and networks with local banks in the Philippines, SUNRATE enables businesses to effortlessly apply for a PHP collection account with your dedicated account name, requiring just a few simple clicks.
In March 2023, SUNRATE established a collaboration with BBVA Bank, the largest financial institution in Mexico. This partnership ensures a secure and compliant onboarding process for businesses. SUNRATE offers direct connectivity to Mexico's local clearing system, enabling faster fund collection and effectively reducing transaction costs for businesses operating in the region.
To find out more about how you can start collecting funds from businesses and marketplaces in emerging markets, connect with us today.
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