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Adding Global Payouts
We have added Global Payouts, enabling our customers to make multi-currency international payments through our API and web app.
We’re excited to announce Global Payouts, which allows you to make international payments denominated in USD or in your domestic currency of choice. With this launch, Modern Treasury customers can now pay directly into counterparty bank accounts located outside the United States.
To start, Global Payouts will support the following domestic payment methods: Bacs in the UK, SEPA in the EuroZone, BECS in Australia, and EFT in Canada, as well as international wires over SWIFT denominated in EUR, CAD, GBP, AUD, CNY, JPY, and MXN, in addition to USD. We will also add more payment methods and currencies on an ongoing basis.
Global Payouts provides multiple payment methods for international payments through our single API and web app. You can choose to use SWIFT wires or any of the above payment methods depending on the cost and settlement time optimal to your needs. This can be done while using Modern Treasury's payment operations platform to manage payment automation, approvals, reconciliation, and accounting.
To provide you with more options, we've also partnered with Currencycloud to make their international payments network available through Modern Treasury. Once you’ve set it up, you can send international payments over their network with minimal changes to your code or payment flows.
To make a payment internationally denominated in USD, create a Payment Order via our app, or with the following API request:
We also give you full control over foreign exchange rates for non-USD payments. You can provide a pre-negotiated FX contract in the API request, or use the spot exchange rate provided by your bank or Currencycloud at the time the payment is made.
To use a pre-negotiated contract, provide the contract ID in the API request.
You can learn more about using these APIs in this guide.
Get Started
Add global payments to your app with a few lines of code using our API, and use the web app to approve and reconcile these transactions. Sign up or get in touch to see how Modern Treasury can help you with your global payment needs.
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