How Businesses Can Benefit From the Launch of SUNRATE’s Local Collection Services in Canada

Canada, a country known for its vast landscapes, cultural diversity, and strong economic standing, has emerged as a global leader in infrastructure development and innovation. In a recent global ranking by The Economist’s inaugural study, Infrastructure for Good, Canada secured the top spot among 30 countries, underscoring its commitment to social impact, governance, environmental sustainability, economic empowerment, and sustainable financing. The recognition is a testament to the nation’s dedication to economic development. The country’s progressive immigration policies aim to attract skilled professionals from around the world, ensuring a steady influx of talent to fuel growth and prosperity. As Canada continues to strengthen its infrastructure and innovation landscape, it opens up new avenues for international collaboration and investment. Canada is an advanced nation with one of the largest economies in the world, impacting much of global trade. Its largest industries are real estate, mining, and manufacturing, and it is home to some of the largest mining companies in the world. A substantial portion of its GDP comes from international trade, with its largest trading partners being the United States, China, and the United Kingdom.

As globalisation takes place around the world and geographical barriers are eventually being removed, many businesses are more than ready to gear up their business expansion plans on a global scale. At SUNRATE, we are constantly providing innovative solutions to reinvent the way cross-border business payments are made. With continuous market-driven innovation and cutting-edge technologies, the future of business that cross-border payments promises is becoming simpler, safer, less costly, and more transparent. With an extensive global network of 190+ countries operated via SUNRATE, geographical barriers will eventually be removed in this rapidly evolving global payments ecosystem.

Faced with a vast and timely market opportunity, SUNRATE has launched the local collection services in Canada as part of our ongoing innovative efforts to upgrade our range of products and services to empower overseas businesses to scale globally. By establishing partnerships with major international banks, this will allow businesses to open a global payment account with the same name and no prefix. With a seamless and efficient local collection services experience, it will boost businesses in terms of capital flow efficiency, timeliness, and ease of business expansion. Now, let us look at the following key benefits of having our local collection services in Canada for businesses worldwide.

100% online and free-of-charge account opening process

The whole process is conducted entirely online; hence businesses have the flexibility to open an account with SUNRATE anytime, anywhere. There is zero account opening fee and account management fee. After submission of the required documentation and completion of the review process, the system will immediately open a collection account.

Direct collection in original currency - low cost and high efficiency

The local clearing networks support Canadian Dollar (CAD), and in return reducing the business costs. Businesses are able to connect directly to SUNRATE’s local clearing system in Canada, and its processing time is T+0, which is near instantaneously to enhance the efficiency of business capital flow. The handling fees are open and transparent, and able to fulfil the varying needs of businesses in terms of time and cost management.

Flexibility for multiple business scenarios

Relying on its cutting-edge proprietary technology and extensive global payment network, SUNRATE is able to fully meet the collection needs of varying business scenarios such as B2B trade and cross-border e-commerce, acquirers, and provide one-stop services such as fast fund withdrawals and supplier payments.

Direct connection to mainstream e-commerce platforms

Amazon, the top e-commerce company in Canada in 2022 has now included Canada as part of its “Amazon Global Store Opening Plan 2024”. As a member of the Amazon Payment Service Provider Programme (PSPP), SUNRATE is able to provide companies with a free green channel for opening stores, one-click access to Amazon’s official servicing team, and to facilitate the opening of multiple stores.

Enjoy a seamless local collection services experience in three simple steps.

1. To register, click here: https://pro.sunrate.com/#/register?language=en-US. If you are an existing user of SUNRATE, you can directly log into the system with your details.

2. Log into the online system and click on the [Global Collection] page. Click on the upper right corner of the page to apply for a new account.

3. Select Canada in the [Store Information] and follow the instructions on the page.

In addition to having local collection services in Canada, SUNRATE’s local payment and collection services cover multiple countries and emerging markets such as Singapore, Indonesia, Philippines, Thailand, Japan, United States, Europe, United Kingdom, Nigeria, Mexico, and Australia; helping businesses worldwide to receive and make payments seamlessly and with a peace of mind. SUNRATE will continue its ongoing innovative efforts to launch more multi-currency payment services, as well as local payment services in other countries and regions so that businesses worldwide are able to manage their cash flow efficiently with ease of global reconciliation.