While digitalized global commerce has increased opportunities across the board, US businesses face some key challenges when paying their international vendors. These challenges include wire fee costs, transactional costs created by the intermediary bank system, and exposure to exchange rate risk. Paying vendors in local currency mitigates those challenges. We spoke with Mary Rotondo, Corpay's Director of Business Development focused on Global Invoice Automation, about these issues and how automation enables lower-cost local currency payments to your vendors worldwide.
Note: The opinions expressed on Fintech in Focus News & Views are those of the speakers only, and do not necessarily reflect the views of Corpay or FLEETCOR Technologies Inc.