Cudium: The Best Way to Make International Transactions

Are international payments frustrating and complicated? Are delays, high fees, and confusing processes slowing your business down? If this sounds familiar, you’re not alone. Many importers and business owners face similar challenges when sending money abroad.

With Cudium, one of the best ways to make international transactions, sending USD payments to your suppliers is fast, secure, and hassle-free. Here’s how Cudium simplifies international payments and why it stands out among traditional methods.

How International Payments Work and Why They Can Be Complicated

International payments involve transferring money from a business bank account in one country to another in a different country, often involving currency conversions and several intermediaries such as correspondent banks. These intermediaries increase transaction fees, processing times, and the risk of delays or errors.

Traditional payment methods like wire transfers or letters of credit come with drawbacks including high fees, slower settlement times, and complex procedures that can be overwhelming for small and medium businesses.

Your transaction will be processed within 24 hours, ensuring same-day settlements and improved cash flow management.

Best Ways to Make International Transactions: Comparing Cudium and Other Methods

• International Wire Transfers

Wire transfers are a common method for cross-border payments with processing times from 1 to 5 days and fees from $0-$50. They are secure and reliable but can be costly and require precise banking details.

When to use: Large, time-sensitive payments to trusted suppliers.

• International Payment Gateways

Gateways like PayPal, Stripe, and others facilitate online payments with multi-currency support and integration with e-commerce platforms. They offer quick settlement but may have higher transaction costs and limited acceptance in some regions.

When to use: E-commerce sales and diverse payment method acceptance.

• Letters of Credit

These bank-issued guarantees reduce payment risk by releasing funds only when contract terms are met. While secure, letters of credit are expensive (0.75%-1.5% fees) and slow due to complex documentation.

When to use: High-value contracts with new suppliers requiring payment assurances.

• ACH Transfers

ACH facilitates bank-to-bank electronic payments with lower fees but slower processing (3-5 days) and limited international availability.

When to use: Routine payments like payroll or regular supplier payments within accepted regions.

• Cryptocurrency Payments

Crypto transfers can be fast and cost-effective with no currency exchange issues but expose businesses to volatility and regulatory uncertainties.

When to use: Cross-border payments facing currency restrictions or seeking rapid settlement.

• Credit Cards

Widely accepted and convenient, credit cards offer protections but entail higher fees (1-3%) and are less cost-efficient for large sums.

When to use: Business travel and smaller international expenses.

• Bank Drafts and Checks

Traditional, traceable methods accepted globally but very slow, often taking weeks, and risk fraud or loss.

When to use: Payments in countries with limited digital payment infrastructure.

• EFT Payments

Electronic Funds Transfers typically process same-day with lower fees and increased security but depend on bank account availability and can have delays over weekends.

When to use: Regular payments to suppliers across multiple countries, especially in Europe.

• SEPA Transfers

Designed for Eurozone countries, SEPA transfers are low-cost, fast (1-2 days), and standardized but limited to euro payments between SEPA-member banks.

When to use: Euro payments within the Eurozone.

• SWIFT Transfers

The global standard for international bank payments in any currency, SWIFT offers reliable, traceable payments but with higher fees and variable processing times (several days).

When to use: Payments outside the Eurozone, in less common currencies or countries.

Why Cudium is a Superior Choice for International Business Payments

• Faster settlement: Payments processed within 24 hours compared to several days or weeks.
• Transparent fees: Competitive pricing without hidden charges common in wire or SWIFT payments.
• Enhanced security: State-of-the-art encryption safeguards transactions and data.
• User-friendly: Intuitive app simplifies payment submission and beneficiary management.
• Versatile: Supports USD, EUR and GBP payments globally, beneficial for businesses trading with the US, UK , China and other international suppliers.
• Reduced intermediaries: Minimizes the delays and fees associated with multiple banks.

Real Use Cases for Cudium

• Importers paying overseas suppliers in USD, GBP and EURO who want faster settlements to avoid supply chain delays.
• SMEs expanding across borders needing cost-effective and reliable payment solutions.
• Businesses seeking to reduce hidden costs related to cross-border transfers while gaining transparency.
• Companies wanting to automate and track payments easily on a single platform.

What Our Customers Are Saying

Lawal Qauyum Ayodeji shares his experience using Cudium

Getting Started With Cudium

Sign up today on the Cudium Business app and enjoy the best way to make international transactions in USD, EURO and POUNDS.  No hidden fees, just seamless cross-border payments at your fingertips.

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Or Book a demo with us on our website today.💙