Background
Alzys Global is a commodities trading company registered in Singapore with a presence in Southeast Asia, Africa and Latin America. Their main activities involve the trading of steel and affiliated raw materials, non ferrous minerals and metals, textiles, and packaged food.
As part of their business, Alzys Global makes and collects payments within the global trade and supply chain. Because the company sources products from remote locations to deliver on-time, on-spec shipments, high speed and accuracy are very important to them.
The Challenges
- Make payments in real-time
Alzys Global needed a cross-border payments platform that allowed for inter-bank transfers. As intermediaries, speed is a priority. - Underserved by banks
Being an SME, Alzys Global has always struggled to get personalised and prompt support whenever the company tried to open an account with banks. - Send money quickly and cheaply to several countries
While the majority of transactions are in USD, they make international money transfers to different countries including Hong Kong and Dubai.
The Solution
Alzys Global made the decision to switch to Wallex, and now uses the Wallex Network to make real-time payments to partners and vendors, while also collecting funds from their customers.
Here's why they chose Wallex:
Wallex as a trustworthy platform for Collections
Wallex holds a Major Payment Institution licence issued by the Monetary Authority of Singapore. We operate within a strict framework to ensure the safety of customer funds in our custody, segregating it in accounts separate from operational accounts. This is in accordance with the Payment Services Act 2019.
This is what the company had to say about their experience:
Excellent service from their Account Manager
“There is a person to call for any issues.” were their exact words.
At Wallex, all businesses get an Account Manager regardless of their size. Alzys Global particularly appreciates their dedicated Account Manager for always delivering on their cross-border payment needs, and at times, even expediting it.
Alzys Global's experience was so positive that they even recommended it to their business partners, who also joined Wallex, and now use our multi-currency wallet and Wallex Network to pay and collect.
Instant payments through the Wallex Network
Alzys Global can now pay and receive money in real-time through wallet-to-wallet payments via the Wallex Network. Timely settlements matter to them because late payments incur penalties.
To quote the company, “Payments really happen within minutes.”
Easy-to-use and secure platform
Everything Alzys Global needs is on the Wallex platform. It is simple and quick to make international money transfers on the platform. Every feature is clear, easy to operate and can be done in a click of the button.
The security of the Wallex platform is also crucial. The company frequently makes large volume transactions and cannot take any risks that can compromise the timely delivery of payments.
The Results
Built an ecosystem that streamlines their business payments through Wallex
Alzys Global has successfully built an ecosystem for making and receiving payments through Wallex. In fact, they even managed to triple their number of partners, comprising a mix of customers and vendors, on Wallex. Their partners are just as satisfied with their Wallex experience as they can receive funds instantaneously.
2 Minutes vs 2 Days
USD transfers used to need as many as 2 days to be completed with Alzys Global's previous payment provider. On US holidays, this could take even longer.
On the other hand, making a transfer through the Wallex Network has consistently enabled their transactions to settled immediately. This means that they no longer need to worry about payment delays, even during the holidays.
Since making the switch to Wallex, Alzys Global now enjoys International money transfers now happen within minutes, instead of taking days. It makes a huge difference to how the company operates, and timely payments helps them to nurture stronger relationships with partners.
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