International wins: Is your small business growing beyond borders? Convera can help you make global payments a quick, easy, and low-cost process. Spend less time managing international B2B cash flow and more time growing your business.
Businesses of all sizes are going…going…yep, they’ve gone global ✈️.
Global ambition is certainly on the rise. In fact, many small businesses already operate globally. They sell to customers all over the world, they source from global suppliers, and they pay remote teams overseas.
According to Convera, a global leader in commercial payments that are quick, simple, and secure, international expansion is a powerful growth driver for small businesses and corporations alike. So it’s not surprising that businesses of all sizes are figuratively stowing away their tray tables and getting in on the potential.
But the real question is this: Are smaller businesses equipped to handle cross-border payments as the intricacies and requirements increase heading into 2026? Because if not, there’s a chance it will put significant strain on their working capital.
We’ve teamed up with Convera to explore common issues when handling cross-border payments, how small businesses can tap into the right solutions, and how to avoid slowdowns before they put a serious damper on growth potential.
The business of cross-border payments
To start, let’s lay some groundwork on terminology, courtesy of Convera.
Cross-border payments are financial transactions between a payer and a recipient located in different countries. They usually involve navigating foreign exchange (FX), currency conversions, different banking systems, and regulatory frameworks.
Small businesses use FX to facilitate international trade, manage costs, and optimize cash flow. For example, businesses shipping to international customers need to exchange currencies to receive payments.
The cross-border payments market for small businesses is forecasted to grow by 54% and reach $21.2 trillion in 2032. Cha-ching, some might say…but the process isn’t exactly simple. According to Convera, some of the main cross-border challenges that small businesses face include:
- Slow transfers 🦥: International bank transfers can take up to a week or more, especially if multiple banks are involved. Not exactly speedy work.
- Lack of transparency 😶🌫️: It’s hard to track money, conversion costs, and timelines.
- Unpredictable FX rates 💸: Currency values can shift all the time, affecting how much a business can pay or receive.
- Compliance and regulations ⚖️: Different countries have different rules for disclosures, taxes, and anti-fraud laws.
- Hidden fees 💰: Intermediary banks can deduct fees along the payment path, and they aren’t always visible up front.
Clearly, there’s a lot to consider, and small businesses just don’t have the bandwidth to tackle each of these considerable tasks in a timely manner.
Let’s talk solutions
Managing cross-border payments with clients and vendors, navigating currency fluctuations, and tripping over gaps in cash flow can stall growth before it even begins. But we’re not here to rain on your global parade. In fact, consider this the overhead tarp, already being put into place to shield your business from oncoming storms.
Convera has shared a collection of cash-flow tips for small businesses navigating cross-border growth.
First: Use the right payment methods for speed and visibility. What constitutes as right? Well, a lot of small businesses still rely on wire transfers or international checks, which are often slow, expensive, and offer little transparency.
On the flip side, modern cross-border payment platforms offer instant or same-day payment options across many countries and currencies. These tools reduce settlement time, provide real-time payment tracking, and improve customer and vendor relationships.
Another tip: Optimize currency conversion to avoid hidden losses. Exchange rates should remain top of mind because they do quite a lot of damage when it comes to chipping away at your cash flow.
Payment providers can make the difference here. For instance, Convera offers competitive foreign exchange rates that you can lock in and always keeps fees transparent, enabling small businesses to have an easier time forecasting. This also offers clarity into planning for potential shortages.
It’s all about timing
Did you know running a global small business can mean that you’ll be dealing with longer payment cycles due to factors like time zone differences, customs delays, and invoicing discrepancies?
Convera shares that timing can be improved by digital invoicing that integrates with a business accounting platform, syncing cross-border receivables and payables in order to improve cash-flow visibility.
Leveraging a multi-currency account can also reduce conversion costs. To explain, Convera notes this example: When a business regularly receives payments in euros, holding those funds in euros instead of immediately converting them to US dollars can help when an exchange rate is unfavorable.
Some advanced B2B payments platforms offer multi-currency solutions that can help small businesses invoice and collect funds in local currencies while delaying conversion when necessary.
Frankly, all of the above is a lot to keep up with as a small business. That’s why managing international cash flow, at a certain point of growth, requires a unified cross-border payment platform designed to consolidate payments, currency exchange, and reporting into a single platform.
It’s not just about the right tech, either. It’s also about leveraging reputable compliance knowledge to simplify operations, gain speed, and receive accurate insights.
See the difference with Convera.
Real-world wins
PS: If you’re interested in seeing a real-world example of all of the above (who wouldn’t be curious at this point?), check out Convera’s case study with Sunrise Products, a UK-based food wholesale business that specializes in importing ambient grocery products from Asia.
See how they boosted global trade with Convera’s real-time FX platform—which provided a quick setup to get them up and running, competitive rates to keep them moving, and simplified cross border payments as a whole for seamless results.