Speed Matters: Why Billers Need Faster Payments

It’s normal to expect speed in certain instances, such as sports and pizza delivery. Today’s tech-driven world also demands speed in some cases, like fast internet. We expect fast file downloads, or high-speed streaming so good that we can have a theater-quality experience while watching a movie at home.

We don’t even want to wait for a reply to an email, text, or social media post, but want (and sometimes expect) a response in minutes—or seconds.  It even happens when we order a physical item from an eCommerce site. We want same-day delivery when it’s possible, because getting the item delivered to our door the following day is too long to wait.  

Faster Bill Paying and Receiving 

The need for speed has even made its way into our business and financial transactions. Customers today have high expectations for fast transactions and service. One factor that could be influencing our desire for fast transactions is our technology. Tech today is faster than ever and readily available on our desk or in our pocket. Also consider that there are more apps and software programs than ever, and that most of what we do—from work to relaxing—is automated and online. 

It’s no wonder that we expect everything to be quick. Speed of service is now a key metric for establishing a baseline of customer service and improving it. While service should still be courteous and consistent, ultimately, speed is what matters. 

Customers today can pay their bills instantaneously using an online payment system, mobile wallet, or a platform like PayPal and Venmo. They can make payments quickly and conveniently from anywhere with either their smartphone app or their computer. Just as important, they don’t have to wait to know if the payment cleared or not. Most platforms have instantaneous confirmation that the payment went through. 

Now that so many customers are taking advantage of fast transactions to pay bills, they also expect to get their money in their account when receiving payments from others. Just like a shirt purchased from an online retailer, customers expect next-day or even same-day delivery of their funds.

Technology, Reliability, and FX Expertise

Of course, successful payment processing involves more than just speed. The process itself must be easy to accomplish, convenient, and accurate. It should also be automated. Many customers today don’t want to go out to a bank, or even pick up the phone. They want to use a mobile app or their computer.

That’s why businesses who want fast payments are turning away from banks, and embracing payment processors. Not only do customers find the speed they’re looking for with fast payments, but they’re more likely to get: 

  • up-to-date, secure technology
  • a mobile app to check accounts and track payments on the go
  • easy-to-use interface 
  • flexibility
  • lower fees

Payment processors have to be able to offer all of these features if they want to stay competitive. They should also be able to process overseas payments for their customers that operate in a global marketplace. That means offering currency flexibility along with speed, security, and an exceptional customer experience.

If your business wants faster payment processing, the latest technology, and lower fees, Monex USA is ready to help. We’re a global leader in foreign exchange and risk management solutions, with over 20 years of experience. We offer solutions for overseas payments and receivables that get your money where it needs to be, quickly, without the cost and hassle of banks.

We can help by tailoring solutions to your unique business, and our award-winning FX forecasters can help you through the volatile currency market so you can make decisions for your business and better manage your global payments.

Along with that, we have the new Monex USA Online App, so you can send fast, secure payments from your mobile device, no matter where you are. With the app, your transactions are:

  • Secure
  • Quick
  • At better rates than the banks
  • Over 30 currencies available
  • With a full transaction history at your fingertips

In today’s global marketplace, speed matters. If you’re not getting fast global payment processing, it’s time to upgrade. The experts at Monex USA are ready to help you get the speed you want with the latest technology and exceptional customer service. Contact us today to talk to an expert. 


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