Wallex Collect Payments

Wallex Collect Payments is a global collection solution that enables businesses to receive international payments in 36 currencies through local virtual accounts. It simplifies cross-border receivables, reduces FX losses, and eliminates the need for multiple foreign bank accounts, allowing companies to get paid like a local.

Features

• Virtual accounts in 36 currencies including USD, GBP, EUR, SGD, IDR, HKD
• Local account details in customer countries (e.g., US, UK, EU, Indonesia)
• Instant activation via Wallex platform
• Centralized dashboard for receivables tracking
• No need to open or maintain foreign bank accounts
• Seamless integration with Wallex Wallet for fund management

Capabilities

• Receive payments via wire or telegraphic transfers as local transactions
• Hold, convert, withdraw, or make FX payments from collected funds
• Reduce FX losses by avoiding multiple conversions and high bank margins
• Improve reconciliation and reporting with centralized receivables
• Expand into global marketplaces requiring local account details

Benefits

• Faster and cheaper international collections
• Enhanced financial visibility and control
• Simplified global expansion and go-to-market strategies
• Reduced operational complexity and banking overhead
• Improved cash flow and liquidity management