"The system powering global payments often feels like the last relic of the pre-internet age. Businesses today operate across borders as a matter of routine, yet the friction of moving money internationally continues to stifle growth, delay operations, and erode profit margins that are crucial for scaling. For many UK SMEs looking to expand their footprint, the promise of global trade often clashes directly with the archaic reality of legacy banking infrastructure."
"Hidden FX Costs: Banks operate with substantial fee structures and wide foreign exchange (FX) spreads, often hiding significant markups within the conversion rate. This hidden cost acts as an unnecessary tax on every single international transaction, severely eroding profit margins over time. Sluggish Speed and Latency: Payments are typically routed through several intermediaries, meaning settlement can take anywhere from 2 to 5 business days."
PhotonPay is an AI-driven global digital finance platform engineered to remove the frictions of legacy banking for UK SMEs expanding internationally. Legacy correspondent banking systems impose hidden FX markups, slow settlement times of 2–5 business days, and complex multi-jurisdiction compliance burdens. Those obstacles erode profit margins, delay operations, and create liquidity risk for businesses reliant on fast cash flow. PhotonPay reduces foreign-exchange costs, accelerates settlements, and simplifies account management across jurisdictions through digital and AI-enabled services. Faster, cheaper, and more compliant payments enable SMEs to access new markets and scale cross-border trade more efficiently.
Read at Business Matters
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