Cedar Blog

Today, we’re sitting down with Maya Har Noy, VP Financial Strategy here at Cedar Money, to discuss her experience within the payments industry, how she aligns Cedar Money’s financial strategy with regulatory environments across diverse jurisdictions and how we mitigate risks in the process.

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You’ve spent years navigating financial systems and regulatory frameworks, what drew you to Cedar Money, and what keeps you energized about the mission here?

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I’ve been in payments since 2005, working across card acquiring, wire transfers, EMIs, and even crypto. In my last venture, I worked with digital assets and cryptocurrencies, though at that time it was mostly speculative When we started Cedar, what really struck me was how broken the system is in many developing jurisdictions. Payments that should be simple were slow, and unreliable.

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That’s when I saw the potential of stablecoins, not as a speculative asset, but as a new rail to complement (and in some cases fix) the broken rails of SWIFT and other legacy systems. Using blockchain for real-world use cases that genuinely improve people’s lives is what excites me most.

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When merchants tell us it used to take them 10 to 14 business days to get a payment out, and now with Cedar we can help them settle in less than 48 hours, that’s when the mission feels real. That’s when it goes beyond efficiency to creating access, trust, and speed where it’s needed most.

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How have you been able to apply your extensive fintech and regulatory background to shape Cedar’s overall financial strategy?

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I see building a fintech as solving a puzzle: every piece matters. At Cedar, that means aligning financial rails, partners, legal frameworks, client needs, and unifying risk and compliance across multiple jurisdictions. My background helps me fit those pieces together in a way that is solid and efficient. While this approach can be more demanding than what some local fintechs pursue, it gives Cedar the stability to serve clients across borders with consistency and longevity. At the end of the day, my goal is to shape a financial strategy that doesn’t just work today, but also transforms how money moves globally in the long run.

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With your experience, how do you make sure Cedar’s strategy aligns with U.S. AML standards while also navigating Africa’s diverse regulatory environments, which are often seen as complex and unique?

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Well, we work closely with legal consultants across jurisdictions to ensure compliance, but also look for unique ways to interpret regulations. That sometimes means partnering with regulated institutions in specific markets, and other times building our own licensing infrastructure like what we’re setting up now in Canada and the U.S. What’s most important is always having local lawyers validate that our business model and operations are sound. Essentially, we can be seen as a payment orchestrator similar to the card network where it brings together different financial institutions.

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Why is licensing important in the payments business, especially across borders?

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Licensing is essential because it ensures we’re operating legally across jurisdictions and enables us to partner with top-tier financial institutions worldwide. To build trust and scale, you have to show that you’re running a clean and compliant business. The type of license you need does vary—fiat and crypto are regulated differently. That’s why Cedar is securing multiple licenses across jurisdictions, so we can confidently and legally support all of our money flows.

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What licenses does Cedar have or is looking to get?

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Cedar is currently in the process of obtaining its MSB license in Canada under FINTRAC, as well as registering with FinCEN in the United States.

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What has been the most surprising thing you’ve learned from leading financial strategy at a fast-growing fintech?

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One of the most interesting lessons is realizing that not everyone in this industry is a competitor. Even when two institutions seem to target the same clients, there’s often space for collaboration and if you share the same risk appetite and infrastructure, you can actually build stronger systems together. Partnerships—whether to expand networks, navigate jurisdictions, or strengthen relationships—are just as important as competition. When all is said and done, it’s those relationships that drive approvals, growth, and long-term success.

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How is Cedar enhancing its compliance and monitoring processes to protect users from risks?

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Cedar takes a very risk-based approach to compliance. We work primarily with importers and exporters dealing in physical goods, which means every transaction is backed by an invoice. That makes it much easier to research, validate, and approve transactions compared to service-based models. In B2B trade of physical goods, there’s always a clear paper trail: a chain of invoices, shipments, and payments, which greatly reduces the likelihood of money laundering or fraud. We’re also very deliberate about who we onboard. We don’t serve companies with business models that could expose our users to higher risks. And we always prioritize choosing the right partners and ensuring every transaction is transparent, traceable, and secure.

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When you think about Cedar’s role in cross-border payments over the next few years, what excites you most about the direction we’re heading?

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What excites me most is Cedar’s vision to expand our role as a true payment orchestrator, seamlessly connecting financial institutions and merchants around the world to make cross-border payments faster, simpler, and more efficient. By combining advanced technology with strong regulatory frameworks, we’re building toward a future where Cedar plays a role similar to what Visa is in card payments, but for global cross-border transactions.

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Outside of work, what hobbies or interests do you enjoy that help you recharge or get inspired?

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My biggest passion is horses. My daughter and I both ride and we actually own three horses. While she competes as a show jumper, I ride mostly for fun. For the longest time, horses have been a dream of mine, and we started riding more seriously during the pandemic. Also, I teach NIA, a movement practice that blends dance and martial arts. I don’t get to do it as much in the summer because mornings are for the horses, but it’s another activity that brings me a lot of joy.

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When a supplier in Lagos tells you they can only release the container once payment clears, you suddenly understand how long settlement times become a tax on your business. Slow B2B settlement is not just annoying. It hits inventory, margins, relationships, your ability to move fast and affects your workflow.

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Below are five reasons why faster settlement matters, and practical ways to get it under control.

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1. Faster settlement frees up working capital

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Think of settlement time as inventory you pay for but do not yet control. Every extra day a payment is in limbo increases the cash you must hold to run the business. That ties up funds you could otherwise use to buy new stock, run promos, or hire.

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How to get it: Use providers that offer faster corridor settlement and predictable timing. For instance, Cedar Money offers T + 1 settlement time to send funds to 190+ countries from Africa and receive funds from 9 major African markets.

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2. Speed reduces FX and timing risk

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FX rates move. The longer you wait to convert or settle, the more exposed your business is to rate swings. For importers, that can mean paying substantially more in local currency; for exporters, that can reduce the local-currency value of sales already booked.

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How to get it: Adopt real-time FX tracking and use rate alerts, forwards, or the ability to hold multi-currency balances so you convert when the rate works for you. Use partners that offer competitive, transparent FX so you do not rely on late conversions that erode margins.

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3. Faster settlement improves supplier relationships and reduces churn

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Vendors remember who pays reliably. Late or uncertain payments strain trust and push suppliers to prioritize other buyers, increase prices, or demand stricter terms. In markets with thin liquidity, slow settlement can even interrupt supply chains.

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How to get it: Give suppliers a clear SLA and provide instant payout confirmations. Where possible, offer batch scheduling or automation so payments happen on time without manual chasing. 

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Financial institutions and fintechs can integrate Cedar’s API for automated, frictionless transactions. This aggregated API provides access to multiple global payout partners, enabling these companies to off-ramp stablecoins to fiat currencies efficiently. 

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4. Faster settlement reduces reconciliation headaches

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Every delayed, partial, or transformed payment makes reconciliation more difficult than it should be. Different intermediary fees, rounded amounts, historic FX conversions, and missing payment references create long manual processes and errors in the books.

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How to get it: Choose a provider that returns consistent payment references. APIs that push payment and remittance data directly into your accounting or ERP system remove copy/paste and reduce human error.

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5. Faster settlement lets you seize time-sensitive business opportunities

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Markets move fast. A supplier discount, a favourable FX window, or a seasonal buying opportunity can evaporate in days, or even hours. Fast settlement means you can act quickly rather than apologizing for a missed chance.

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How to get it: Keep a portion of your funds in the currency corridors you most frequently use, or use a partner that offers same-day or near-real-time settlement in key corridors. Pair that with role-based controls so approved team members can execute when time matters.

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Many Cedar Money customers pair corridor liquidity with multi-user controls. This removes approval bottlenecks while retaining governance and approved team members can push payments without a dozen back-and-forths, and managers retain visibility and control.

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A practical checklist on how to actually get faster settlement: 

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1. Audit your current flow: Map from invoice to payout and note every intermediary or manual step.
   
   
2. Consolidate providers: Reduce hops. Fewer providers typically mean fewer delays.
   
   
3. Automate approvals and recurring payouts: Remove as many manual bottlenecks as you can.
   
   
4. Use multi-currency accounts or wallets: Avoid needless conversions at the time of settlement.
   
   
5. Adopt a payments partner with a strong local footprint: Local rails and local bank connectivity often lead to much faster settlement.
   
   
6. Push reconciliation into software: Use APIs or SFTP remittance files to keep books in sync.
   
   
7. Monitor FX and use rate tools: Set alerts and use forward options if your provider supports them.
   
   

Why a modern payments partner helps more than you think

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A modern cross-border payments platform is not just a rails provider. It is a workflow tool. The right partner gives you predictable settlement times, transparent fees, multi-currency control, and integrations so your finance team stops being reactive and instead, stays pro-active.

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Cedar Money was built for businesses that need those exact things: predictable corridor coverage across the countries you trade in, multi-user role controls to avoid approval bottlenecks, real-time FX visibility, and faster settlement times. You get a single dashboard that replaces the scramble of bank portals, spreadsheets, and messaging apps when making cross-border B2B payments.

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In conclusion

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Slow settlement eats cash, damages relationships, increases operational costs, and leaves business leaders reacting instead of deciding. Faster settlement gives you breathing room, clarity, and the ability to move when opportunities appear.

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Ready to stop waiting on payments? Get started with Cedar Money and see how faster settlement can free up cash and time for your business.

In this episode of Cedar Insider, we sit down with Nir Atar, VP of Growth here at Cedar Money, to explore his journey, how he defines success in a fintech built for global commerce, and an unexpected but interesting hobby that fuels his creativity.

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What does “growth” mean to you beyond numbers and metrics, especially at a fintech like Cedar Money?

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For me, growth isn’t just revenue or user counts. It’s about genuinely improving people’s lives.  At Cedar, that means freeing our business owners from the headaches of slow, opaque payment processes, so they can focus on what matters: moving merchandise on time, hitting market seasons, and scaling their businesses with confidence.

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Yes, growth shows up in dashboards and KPIs. But it shows up even more in empowerment, giving businesses the tools and transparency they need to operate efficiently and expand globally. And by doing that, we’re not only growing Cedar Money; we’re facilitating broader economic activity and opening new pathways for commerce across markets.

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What excites you most about driving Cedar’s growth across multiple African markets and global corridors?

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The most exciting part is solving a real problem at scale. We didn’t start with the technology first and then hunt for use cases. We first pinpointed the challenges businesses face: FX volatility, opaque compliance rules, fragmented local infrastructure, and cultural nuances both between and within countries. Then we built solutions deliberately to address each pain point.

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Seeing merchants in Nigeria, Ghana, Kenya, and beyond gain access to seamless payment corridors, and knowing we played a part in unlocking their potential, thrills me. And the best part? The knowledge that with every transaction we streamline, we’re creating real economic impact for businesses and communities across the continent and beyond.

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What’s the most important lesson you’ve learned about leading high‑performing teams at a fast‑growing startup?

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It all comes back to one word: people. In a remote-first environment like Cedar Money, trust is your hardest-won asset. That requires clear, open communication; transparency around goals and setbacks; and a willingness to tackle tough conversations head-on and resolve them without creating friction.

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Integrating new members into an already established team means respecting cultural differences and individual complexities, especially when attempting to build a company culture that inspires your team.

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The truth is, when teams feel seen, heard, and valued, they bring their best ideas forward.

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How do you collaborate with product, engineering, and marketing to build toward the same North Star?

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First, we start with one clear vision and speak it in every team’s language, whether it’s code, design, or go‑to‑market. Then we reverse‑engineer that vision into concrete steps each team owns.

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Active listening is as important as clear direction. I encourage open dialogue and surface potential roadblocks early, even if it feels uncomfortable. In a small company, skipping tough conversations can seriously slow you down.

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It’s also vital to bring the diverse stakeholders into the process when the plan is still a ‘rough draft.’ This way, we build buy‑in, and it allows them to communicate with each other, understand each other's problems, and synchronize their efforts.

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It’s not easy, but keeping the environment friendly and transparent makes everyone feel safe to collaborate and innovate.

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What makes growing a global fintech company different from growing, say, a SaaS company or e‑commerce brand?

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I haven't personally built a SaaS company or an e-commerce brand, so I can't speak to those from experience. But I can share what I believe makes growing a global fintech company unique.

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Building a global fintech company hinges on building deep trust at every level. This is crucial because of all the complexities involved, like regulations, currency volatility, geopolitical dynamics, and infrastructure challenges. Trust needs to be there across the entire value chain.

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You build this trust through how you present yourself externally: your website, your app, and all your communications. And with clients, you build it by serving them well the first time and then going on to consistently deliver exceptional results. Being transparent is also key. If something goes wrong, it’s essential to talk about it openly instead of trying to hide or run from it. That's a core principle for us.

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The real currency in our business isn't FX services; it's trust. If clients and the industry don't trust us, we cannot succeed. This trust is directly tied to how reliable our services are and the integrity of the people who work at Cedar. All these elements—transparency and consistent execution—help cultivate trust and have to be built into the business itself.

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Can you share a bold growth idea or bet you made that paid off (or didn’t), and what you learned from it?

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I would highlight my decision three years ago to join a company in Israel, focusing on African merchants who struggle with dollar scarcity, and attempting to solve these challenges with stablecoins at a time when stablecoins were often linked to speculation. What I wanted was to build something real that solved a clear market need. I understand why some might see it as "bold," though.

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A huge lesson I learned was how important it is to understand client behaviour. While it's crucial to teach clients about your business, it's just as vital to learn from and adapt to their existing habits. Often, the path of least resistance is the most effective.

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For example, in my previous company, we mostly communicated with our clients via email, which allowed for more thought-out replies. However, upon entering a continent (Africa) where much of business communication occurs on WhatsApp, adhering strictly to the email-only approach would have been a hindrance.

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What’s something unexpected about you that doesn’t show up on your LinkedIn?

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I carve avocado seeds and create miniature artworks. I infuse epoxy resin stones, which I prepare and craft by myself, into the avocado seeds. Also, using some elements from nature—fruits, acorns, or leaves—I create luminescent artworks. Everything from galaxy stones to jewelry boxes for friends.

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This started when a friend sent me a video of avocado carving. She knows I enjoy creating things. And since then, I’ve rolled leaves into art depicting the galaxy, made manta‑ray sculptures from natural elements, and infused acorns with glow‑in‑the‑dark pigments.

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Finish this sentence: “When I look back at my time at Cedar, I want to be remembered for…”

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…building a team culture where everyone feels heard and purposeful, and helping the company grow sustainably.

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For the team, I'm aiming to foster a culture of empathy and purpose where team members feel seen, valued, and inspired to do their best work.

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When it comes to company growth, I'm thinking beyond just the numbers. I'm focused on building quality relationships with our clients and partners, as well as maintaining the integrity of our operations. I also hope that my legacy would include meaningfully improving the way African businesses connect globally. This means breaking down barriers and creating seamless pathways for their financial transactions and business operations.

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Ultimately, I want to empower local businesses and their leaders so they can really focus on what they do best and have more time for themselves and their families.

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Stay tuned for more Cedar Insider conversations, where we pull back the curtain on the people powering Cedar Money and shaping the future of cross‑border commerce.

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Managing multi-currency B2B payments can get complicated really quickly. Between balancing the multiple currencies involved, different regulations, a long list of tools and often strict timelines, businesses tend to struggle and their workflows become fatigued.

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Imagine having to pay vendors in USD, EUR, and GBP from your base in Kenya. You’re using your local bank for some payments, a money transfer app for others, and an Excel sheet to track everything. It’s chaotic, risky and so exhausting. And you know what that recipe spells? Burnout and operational drag.

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In this article, we will walk you through how to optimize multi-currency payments and simplify your workflows.

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What are Multi-Currency Payments?

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Multi-currency payments simply involve the ability to send, receive and process funds in different currencies, instead of being limited to a single, often local, currency.

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This allows businesses to serve partners across borders with the convenience of paying in their preferred currency and potentially side-stepping the downsides of international transactions—high costs, delays, etc.

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Challenges of Traditional Multi-Currency B2B Payment Workflows

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For many businesses with international clients, sending or receiving payments involves running bank accounts in the different currencies they do business in and ensuring that these accounts are always funded enough to cover both planned and emergency expenses.

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If these businesses have branches in different countries, they often have to send money to these branches to cover local costs (like taxes, employee salaries, or everyday expenses), all in the local currency of that country.

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On the surface, these seem like smart setups: having separate accounts for separate needs. But in reality, it quickly leads to a complex web of tools, conversions, and processes that cost more than they save, especially as operations start to scale and payments increase in volume and complexity.

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Here are some of the most common issues businesses face when managing multi-currency B2B payments the traditional way:

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1. Multiple tools, fragmented data

Many finance teams often manage payments across multiple platforms. One for FX conversion, another for sending money and most commonly, Excel sheets for tracking cashflow. The result of this system? Fragmented data that is all over the place, out of sync and tedious to collate for reports and balancing books.

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2. FX risk exposure

When businesses make international transactions, there’s a potential for financial loss due to fluctuation in FX rates. So, when you receive a payment or want to send one, if you wait too long to convert the funds, you may lose money without realizing it.

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Cedar Money mitigates this with Rate Alerts, which ensures you get an instant notification when an FX target you set is met.

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3. Reconciliation issues

Payments coming in and going out may vary due to exchange rates and fees. These varying amounts can make it difficult to tell what was paid, to whom and when, leading to inconsistencies in financial accounts and reconciliation issues.

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4. Manual processes equals payment delays

Between manually entering data, chasing down approvals and following up with clients or vendors, teams unnecessarily lose hours they could spend in more productive endeavours. Not only does this cost the business resources and manpower that could be better utilized, but it also slows down payments and creates room for errors.

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Why It Matters: The Business Impact of a Messy Workflow

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For any business to thrive, it needs structures and systems in place that keep the wheels running smoothly. And when there are kinks in the system, the business pays dearly for it. Here’s how messy payment workflows can affect your business:

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1. Missed growth opportunities

Slow payments can delay you from securing good deals or making important business purchases. It can cost you a chance to buy inventory at a good price, or a partner may decide to go for a more reliable supplier.

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2. High vendor churn

A lot of trust is required when running a business; you trust your suppliers to deliver the goods they say they would in the condition they say they would. And they trust you to pay for the goods at the time you say you would. So, when your suppliers aren’t getting paid on time (or in the right amount), you lose their trust and they may choose to stop working with you. Without your vendors, there are no products and without products, there’s no business.

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3. Operational drag

Instead of focusing on strategy or creating growth plans for the business, your finance and operations teams spend all their time fixing payment issues. This not only costs your business potential opportunities to scale and/or improve but it also costs you money. How? Think about it: you’re paying your employees for skills that they’re unable to adequately use for the purpose in which you hired them because their efforts are being wasted on payment issues.

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4. Hidden costs

Nothing adds up faster than those costs that you don’t see: bad FX rates, multiple bank charges, late fees, etc.

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How to Simplify Multi-Currency Payments (Step-by-Step)

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1. Consolidate your platforms

Rather than juggle three to five different platforms, use fewer tools that can do more. For example, how about you use a single payment solution that can handle your FX and payments and also ensure that you stay compliant?

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2. Automate what you can

In most ways that count, automation trumps manual processing. So, if you can have it automated, do it. Set up auto-approvals, recurring payments, or alerts to reduce manual work and by extension, the risk of human error.

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3. Use APIs for scale

Instead of having to painstakingly enter every transaction manually, use software (via APIs) that connects your systems and automates your B2B payment flows.

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4. Track FX in real-time

Don’t miss great exchange rates. Use tools that show you live exchange rates and can notify you of rates that you want to make a transaction at.

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5. Set clear roles and permissions

Ensure that your team has clarity on what their roles are and they know who approves what. This avoids confusion and by extension, unnecessary delays.

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With Cedar Money’s multi-user account access, your team stays coordinated, compliant, and secure.

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What a Modern B2B Payment Solution Should Offer

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When it comes to managing payments across currencies, the right payment solution can save your team hours of work and help your business avoid costly mistakes.

But not all solutions are built the same.

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To truly simplify your multi-currency B2B payment workflow, the platform you choose should come with a few non-negotiables, not just nice-to-haves, but actual features that remove friction, increase visibility, and support your business’ growth.

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Here’s a checklist you can use to evaluate if your current setup (or any provider you’re considering) is helping you move money efficiently, securely, and at scale:

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Pro Tip: Cedar Money checks every one of these boxes—and more. From high-volume payout support of up to $30 million to global reach across 190+ countries and a $180 referral program, our platform was built for the scale and complexity of modern B2B finance.

With Cedar Money, you’re not just sending payments. You’re building a smart, scalable workflow your entire team can rely on.

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Your Next Steps: Audit and Improve Your Workflow

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Now that you’ve seen what an efficient multi-currency B2B payment process should look like, it’s time to zoom in on your own systems.

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Start by asking:

• What tools are we currently using to manage payments?
• How many steps does it take to go from invoice to payout?
• Where are the most frequent delays or errors happening?
• Are we losing money to poor FX rates or hidden fees?
• Do we have full visibility into payments across currencies and regions?

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Tip: Map out your current workflow, from when an invoice is received to when the payment is confirmed. This will help you identify bottlenecks, redundancies, or manual processes that could be automated.

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You can also book a quick chat with a Cedar Money specialist and see how we can help improve your current setup.

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Conclusion

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How you manage your payments can either fuel your business’ growth or slow you down.

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Clunky processes, scattered tools, and delayed transactions don’t just create headaches for your finance team, they also  impact your vendor relationships, cash flow, and your ability to scale.

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But it doesn’t have to be that way.

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With the right tool, your B2B payments can be fast, flexible, and friction-free—across currencies, countries, and teams.

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If you're ready to simplify how you pay and get paid internationally, Cedar Money is here to help. Get started today!

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In 2022 alone, businesses made over $150 trillion in B2B cross-border payments. With staggering numbers like that, it’s no surprise that cross-border trade is top of mind for businesses looking to scale and diversify their revenue.

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However, that is easier said than done. Sending and receiving funds across borders can get complicated real fast. With complex regulatory processes, long settlement times and unplanned fees, it’s enough to give any business owner pause.

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That’s not to downplay how far cross-border payments have evolved. Today, they’re faster, smarter and more accessible than ever. But for your business to truly benefit, you need to understand what it takes to pay a supplier in China, receive funds from a client in the UK, or manage payroll across Africa.

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In this article, we’ll walk you through the nuts and bolts of cross-border payments: the methods, common use cases, benefits, and how to streamline it all. If your business is looking to scale globally, this guide is your starting point.

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What are Cross-border Payments?

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Cross-border payments are financial transactions where the payer and recipient are located in different countries. They allow businesses and individuals to send and receive funds or assets internationally, usually through banks or other financial platforms.

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Today, cross-border payments power everything from international trade to remote work and global supply chains.

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These payments are used by:

• Businesses paying suppliers, partners, or employees in other countries
• Freelancers and remote teams getting paid across borders
• Exporters and importers managing international transactions

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As more businesses look to scale and expand beyond their local markets, it has become critical to their growth that they be able to move money in multiple currencies across borders quickly and securely. But without efficient cross-border payment practices, that same growth can quickly get weighed down by delays, fees, and operational strain.

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How Does Cross-Border Payments Work?

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While on the surface cross-border transitions might seem pretty easy— enter the recipient’s details, amount, etc and hit send, a lot more goes on behind the scenes to move funds safely and compliantly from one country to another.

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Behind-the-Scenes of a Cross-Border Transaction

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Every cross-border payment typically goes through a few critical layers:

1. Initiation: The payer (sender) initiates the transaction through their bank or a payment service provider (PSP). They provide details like the amount, currency, recipient’s bank information and account number.

• Intermediary Network: If the sender’s and recipient’s banks don’t have a direct relationship, one or more correspondent banks help bridge the gap.
• Currency Conversion: If the transaction involves different currencies, an FX provider converts the funds, often applying a spread or fee.

2. Transfer: The sender’s bank or PSP sends the payment information to the recipient’s bank. This often involves the SWIFT network, which acts as a messaging system for international bank transfers. However, if the sender’s and recipient’s banks don’t have a direct relationship, the payment may be routed through one or more correspondent banks.

Correspondent banks enable international payments between two banks that don't have a direct relationship. These banks serve as intermediaries, offering pathways to global financial networks and enabling transactions across various currencies and jurisdictions.

3. Clearing and Settlement: The payment is cleared (verified and matched) and settled (funds are transferred between banks), which can take anywhere from minutes to days depending on the payment corridor. When the payer and receiver use different currencies, the payment process may involve a  currency conversion. Once settled, the recipient's bank deposits the funds in the recipient's account.

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Key Stakeholders Involved in a Cross-Border Transaction

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1. Sender: The party (individual or business) who initiates the payment.
2. Recipient: The party who receives the funds.
3. Banks: Both the sender’s and recipient’s banks, and often, correspondent banks.
4. Payment Service Providers (PSPs): Fintechs or platforms like Cedar Money that simplify the process by offering faster routing, compliance automation, and better rates.

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The Compliance Aspect

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Cross-border payments are closely monitored due to anti-money laundering (AML), counter-terrorist financing (CTF), and sanctions regulations. These transactions are frequently screened against global compliance standards, often at multiple points in the payment process. This necessary attention to detail can slow things down or flag issues if not carefully managed.

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That’s why businesses making cross-border payments need partners that are capable of automating these checks efficiently, without compromising speed or a positive user experience. Cedar, for example, offers multi-factor authentication and other enterprise-grade security features to keep payments secure, while also simplifying the entire cross-border transaction process from initiation to settlement.

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Common Ways to Send and Receive Money Internationally

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When it comes to moving money across borders, there are quite a number of options available, each with its own pros, cons and use cases. Choosing the best cross-border payment method for any transaction depends on several factors: the amount to be transferred, the payment corridor (i.e., the originating and receiving countries), the currencies involved, and the associated fees, which can vary between providers and methods.

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These are the most common ways to make cross-border payments:

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1. Wire Transfers:

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This is the more traditional, well-established, and widely accepted method for sending funds internationally. It involves the electronic movement of funds from one bank account to another. Wire transfers are a go-to for many businesses, particularly when dealing with high-volume transactions. However, they can be quite costly, especially when routed through multiple correspondent banks.

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2. Electronic Fund Transfers (EFTs)

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This is a broad term for any transfer of funds initiated electronically between accounts, utilizing methods like SWIFT, Fed-wire or other systems.  Some types of EFTs include ACH payment or ACH direct deposits, Credit card or debit card transactions, peer-to-peer payments and even wire transfers.

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All wire transfers are EFTs but not all EFTs are wire transfers.

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3. Digital Wallets and Fintech Platforms

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Modern platforms like Cedar Money are redefining how businesses make cross-border payments. With faster processing and settlement times, transparent fees, and user-friendly dashboards, fintechs offer a more flexible experience. They often support multiple currencies and payout options, making them ideal for businesses that need to move fast and efficiently.

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4. Card Payments

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Debit and credit card payments can be convenient for smaller, one-off international purchases, think SaaS subscriptions or travel expenses. But for B2B transfers or high-volume transactions, they often come with high interchange fees, limited payout control, and stricter usage caps.

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5. Cryptocurrency

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Crypto offers speed, transparency, and low fees, making it appealing for some startups and freelancers. However, adoption remains uneven, and regulatory uncertainty can pose risks for businesses. Cedar doesn’t currently support crypto, but it’s an area many fintechs are watching closely.

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For both businesses engaged in international trade and individuals sending or receiving funds across borders, a thorough evaluation of the available payment solutions is paramount.

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This careful consideration ensures the selection of a method that not only aligns with their specific financial requirements but also optimises for speed, cost-effectiveness, security, and convenience. Understanding the nuances of each option empowers users to navigate the complexities of international payments efficiently and effectively.

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How Businesses Use Cross-Border Payments

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Cross-border payments are the engine behind countless business operations. Here’s how they show up in real-world scenarios:

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1. Paying International Suppliers and Freelancers

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Whether you're sourcing materials from Asia or working with a designer in Canada, businesses need a fast, reliable way to pay overseas vendors. Delays or errors here can strain relationships and slow down production.

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2. Receiving Customer Payments from Abroad

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Cross-border payments don’t just go out, they come in, too. E-commerce brands, B2B services, and exporters need infrastructure to accept payments from customers in other currencies and countries. The easier it is to pay you, the faster your global business can grow.

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3. Cross-Border Payroll for Remote Teams

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With distributed teams becoming the norm, businesses need seamless ways to run payroll across multiple countries. Ensuring employees and contractors are paid accurately and on time (in their local currency) is a must.

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4. Settling Marketplace Earnings

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If you sell on global marketplaces like Amazon, Etsy, or Upwork, your earnings often come in different currencies. Managing payouts across platforms and countries can get complex, unless you have a centralized solution.

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5. Paying for B2B SaaS or International Services

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Think email platforms, cloud hosting, legal support, or marketing consultants. Businesses frequently rely on international services and tools, and having an efficient payment method simplifies vendor relationships.

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Benefits and Limitations of Cross-Border Payments

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No payment method is perfect. Here’s what to expect when dealing with international transfers:

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Benefits

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• Wider Reach: You’re not limited by geography. Tap into talent, customers, and markets around the world.
• Business Scalability: As your operations grow, you can expand into new regions without needing to overhaul your financial setup. Note that this is only possible if your chosen payment platform is scalable.
• Process Efficiency: Modern platforms offer automation, API integrations, and dashboards that help reduce manual errors and administrative overhead.

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Limitations

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• High Costs: Traditional payment routes often involve multiple intermediaries, hidden fees, and costly FX margins.
• Slow Settlement: Some corridors still take several days for payments to clear, especially with banks.
• Compliance Complexity: Varying regulations across countries can slow transactions or even block them if not properly handled.

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How to Make a Cross-Border Payment (Step-by-Step)

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If your business is sending or receiving money internationally, here’s a clear process to follow:

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1. Choose a Payment Provider

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Look for one that supports the currencies and countries you operate in, offers favourable rates, and meets your speed and compliance needs.

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For instance, Cedar Money enables businesses to send over 30 million dollars daily to other businesses in over 190 countries around the world and receive from 9 major African markets.

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2. Check the Exchange Rate

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Understand how much your recipient will receive and how much the transaction will really cost after FX spreads and fees.

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3. Add Recipient’s Details

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This typically includes the recipient’s name, account number, bank name, SWIFT code (or local equivalent), and address.

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4. Verify and Send the Payment

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Review all the information carefully. A small error (like a typo in the account number) can delay or bounce the transfer.

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5. Track the Payment

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Modern providers like Cedar Money let you follow the payment in real-time with updates at every stage, no need for “just checking in” emails.

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6. Confirm Arrival

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Make sure the recipient receives the funds in full. Some platforms (like Cedar) generate payout confirmations to help you document the arrival and build trust with partners.

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How Cedar Money Helps You Send and Receive International Payments

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Whether you’re scaling operations, running payroll, or settling invoices across borders, Cedar Money is built to keep your money moving fast, safe, and stress-free.

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• Send payments to 190+ countries

From Europe to Asia, North America to Australia, send funds globally without dealing with multiple providers or high FX markups.

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• Receive payments from 9 African countries

‍Collect money from clients, partners, and marketplaces in Nigeria, Kenya, Ghana, South Africa, Tanzania, Rwanda, Uganda, Zimbabwe, and Ivory Coast, all through a single Cedar account.

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• Transparent rates and fast settlements

Cedar offers competitive exchange rates and T+1 settlement speeds, so your funds move as fast as your business. No surprise fees along the way.

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• Smart account controls

Invite team members, assign access roles (owner, admin, viewer), and manage approvals without needing to share passwords or chase updates.

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• Real-time tracking and payout confirmations

Get updates on payment status, delays, and arrival confirmations, keeping you and your partners in sync.

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• Developer- friendly API

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Use our developer-friendly API to automate payouts and reporting, and manage everything from our clean, intuitive web dashboard.

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Conclusion

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Cross-border payments aren’t just a back-office function, they’re a key driver of global business growth. But only if they’re done right. With the right tools, providers, and strategy, you can save time, reduce costs, and build stronger global relationships.

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Whether you’re just getting started or looking to streamline your existing process, Cedar Money is here to help you move money smarter. Get started today!

For any business looking to build globally and expand beyond their country or continent’s borders, they require a strong, scalable infrastructure. Think: scalable payment solutions, cloud-based stacks, logistics and supply chains, and much more, depending on the industry and business model.

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Of all these, payments remain one of the biggest and most common friction points when expanding across borders. With global payment volumes projected to reach $290 trillion by 2030, the pressure on payment scalability is only intensifying.

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Behind the simple act of sending money from one account and receiving it in another lies a lot of complexities. And when this payment has to cross borders? These are heightened: varying country regulations, high cost and routine delays.

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That’s why scalable payment solutions are non-negotiable for businesses serious about growth.

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In this article, we will show you what makes a payment solution truly scalable and why it is essential, regardless of your business’ size.

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What are Scalable Payment Solutions?

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Have you ever thought about how electricity or water gets to your home? You just plug in a device, or turn on the tap, and it's there. You don't worry about the power plant or the network of pipes underground that make it all possible.

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Payment solutions work similarly: they're the invisible infrastructure that allows your money to move with just a click of a few buttons.

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Now, imagine if your electricity could only power one small light bulb, but suddenly you need to power a whole building. That's the difference a scalable payment solution makes. It is built to effortlessly grow with your business ensuring your money flows securely and efficiently, no matter the volume or destination.

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Put simply, a payment solution is the system or infrastructure that lets businesses send, receive, and manage money. This could be through bank transfers, mobile money, card payments, or API-driven platforms.

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A scalable payment solution goes a step further. It is built to:

• Handle high transaction volumes
• Adapt to compliance and regulatory complexities
• Integrate seamlessly with business tools
• Expand across currencies, countries, and corridors

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Why Scalability Matters for Cross-Border Businesses

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You run a Kenyan skincare startup that sells handmade, all-natural products online to customers in the UK and EU. In the early days, orders trickled in by the dozen and your small team manually processed payments, tracked them in spreadsheets, and kept everything organised across multiple Google folders.

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Then everything shifts when a popular UK-based beauty blog features some of your products. All of a sudden, a couple of TikTok creators jump on the trend and pick up your products. Just like that, your brand becomes an internet sensation, your followers shoot through the roof, you’re tagged in haul videos and show up in multiple beauty must-have lists.

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Within weeks, you’re flooded with orders and your business is processing three times the usual order volume. Or at least, it’s trying to.

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Now, you’re dealing with:

• Customers asking to pay through different methods.
• Trying to reconcile USD payments from your EU distributor with KES payouts to your Nairobi-based suppliers.
• Your bank flagging inbound payments as suspicious due to the sudden volume jump.
• And international transaction fees are quietly eating into your margins.

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What was once a simple setup is now under serious strain. The friction starts to show up everywhere: settlement delays, failed transactions, and frustrated customers.

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This is where a scalable payment solution becomes critical. You need infrastructure that grows with your momentum: handling increased volume, supporting multiple currencies and payout methods, and giving you real-time visibility into your cash flow across borders.

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And it needs to do all that without forcing you to overhaul your operations every time you grow. Because if your payment stack can’t scale, neither can your business.

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How Cedar Money Helps You Scale Across Borders

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At Cedar Money, we’ve built an infrastructure that was designed from the ground up specifically for businesses moving high volumes across borders— and plan to grow.

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Here’s why businesses switch to Cedar Money and never look back.

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Whether you're a startup expanding from Kenya into Europe or a global company collecting payments across Africa, Cedar gives you the scalable foundation you need to move fast and stay in control.

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Here is everything you should look for in a scalable cross-border payment partner:

• Multi-currency support
• Fast and reliable settlement times
• Strong compliance and fraud controls
• Transparent, competitive fees
• Real-time reporting and reconciliation
• Easy integration with your internal systems
• Ability to handle growing transaction volumes

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Now, here’s everything Cedar Money offers to support your cross-border growth:

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1. Multi-Currency, Multi-Country Coverage

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Cedar supports transactions in 190+ countries for outbound payments and lets global businesses collect from 9 African countries, including Nigeria, Kenya, Ghana, and South Africa. This means you can serve customers and pay suppliers around the world without needing separate accounts or partners.

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2. T + 1 Settlements

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Our infrastructure is built for speed. Whether you're paying suppliers in Nairobi or receiving funds from clients in London, Cedar ensures fast, predictable settlement (in just 24 hours) so your operations never stall due to slow payments.

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3. Automated Compliance and Enhanced Security

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Cedar handles the heavy lifting of regulatory compliance, with real-time KYC/AML checks and multi-factor authentication built in. That means less manual review, fewer delays, and safer transactions.

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4. Transparent Pricing That Protects Your Margins

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No hidden fees. Cedar offers competitive FX rates and transparent pricing, so you always know what you're paying and can plan accordingly.

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5. Real-Time Tracking and Payout Confirmations

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You get full visibility over your payment flow with real-time dashboards and automatic payout confirmations. This enables trust and builds your relationship with partners and vendors.

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6. Developer-Friendly APIs and Seamless Integrations

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Our Payout API makes it easy to plug Cedar directly into your backend systems. Whether you're automating payroll, or supplier disbursements, you get to scale without adding operational complexity.

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7. Built to Scale With You

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From your first international sale to global expansion, Cedar grows with you. Whether you're sending or receiving $3M or $30M transactions per day, our systems stay responsive, reliable, and ready for more.

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Conclusion: Build a Business that Grows Without Borders

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Growth isn’t just about demand, it’s about having the right systems in place for your business to remain sustainable.

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When your business takes off, you need more than just your great products. You need infrastructure that won’t crack under pressure. That’s where scalable payment solutions come in: they ease the friction and give you the clarity and control you need to focus on expansion.

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At Cedar Money, we help cross-border businesses do just that: grow smoothly, securely, and sustainably. Whether you're navigating compliance in new markets, sending payouts across multiple countries, or collecting in different currencies, we’ve built a platform that scales with your business needs and ambition.

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So when that next spike in demand hits, you’ll be ready. Get started now.

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If you've ever tried to make international B2B payments through a traditional bank or clunky fintech platform, you already know the drill. You’d most likely be met with slow processing times, exorbitant FX rates, and constant back-and-forths that leave you waiting days or weeks for responses. And when you're running a business, delays like that aren’t just frustrating, they're expensive.

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These are the exact problems Cedar Money was built to fix. The delays, the high costs, the red tape and overall lack of clarity that plagues global payments from emerging markets.

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We understand the importance of speed and the ability to send and receive payments to your business partners, clients or staff, in bulk to avoid numerous charges and just because it’s easier to send or receive $3 million at once than to have to break it into multiple parts.

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But don’t just take our word for it. We asked some of our clients how Cedar Money fits into their operations and improves their processes. Their answers were honest, insightful and a clear sign that they had found a better way to move money across borders with Cedar Money.

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1. “We needed speed. Cedar Money delivered.”

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When you’re paying global suppliers, every delay can ripple into bigger issues: production stalls, broken trust, lost deals. And when your suppliers are in multiple countries, it can become even more complicated.

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Surgir Transocean Trading, a global commodities company, faced this challenge often until they found us.

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“We needed fast and efficient payments for our global invoices, and Cedar provided seamless access to first-party payments for our suppliers. With Cedar, we can pay securely in USD and RMB, ensuring peace of mind with every transaction.”

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That peace of mind comes from knowing your payment will get to the right place, at the right time, without you needing to chase it down. Cedar offers secure access to major currencies like USD and RMB, with reliable first-party settlement. So, whether you’re dealing with suppliers in Asia or contractors in the US, Cedar Money lets you send funds with confidence and track with clarity.

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2. “Since I started using Cedar, it’s been a huge relief”

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Oladimeji Kehinde of Dariltweens Nig Ltd. runs a fish distribution business in Nigeria. For years, sending USD to suppliers was stressful, slow, and expensive. Today, it’s a lot different.

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“Running a fish distribution business in Nigeria means juggling a lot of things, and dealing with USD payments for suppliers used to be a big headache. Since I started using Cedar, it’s been a huge relief. Their app is so easy to use, and the FX rates are great, saving me money with every transaction. I love that it's all super secure and transparent, too. Now I can focus more on growing my business instead of stressing over payments.”

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Business owners like Oladimeji don’t want to become payments experts. They just want to run their business, increase their margins and scale. It’s a lot easier to do that knowing their money’s going where it needs to, quickly and affordably. And Cedar Money lets them do exactly that.

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With Cedar, what used to take weeks of emails, phone calls, and spreadsheets now gets done in 24 hours. With our T + 1 settlement time and competitive rates, every dollar counts toward your business’ growth, not wasted on unnecessary FX markups.

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3. “Faster transactions and better rates. ”

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For Ibukun Alebiosu of Smarty Global Energy and Allied Services, the biggest win has been speed and knowing what to expect every single time.

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“Cedar Money has been good so far. It makes my transactions faster and easier. The rates are very competitive compared to other IMTOs. Swift and fast telex delivery too.”

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We’ve heard that one a lot: “It’s just easier.” That’s what we’re going for. Fast transfers and affordable rates aren’t perks, they’re expectations. Cedar hits both marks and makes the entire process smooth and seamless.

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What makes Cedar Money different?

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Cedar Money isn’t a consumer app rebranded for business. We’re designed from the ground up to handle high-volume B2B transactions, with enterprise-grade security, compliance, and 24/7 support.

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These testimonials all highlight the same pain points: speed, security, reliability, and clear FX rates.

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Here’s what businesses love most about working with Cedar:

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• Global reach: Pay clients in 190+ countries and collect from 9 major African markets.
• Competitive FX: Key more margin with more affordable pricing.
• Rate Alerts: Set target rates and get instant notifications when FX hits your target.
• Refer and earn: Get $180 for every business you refer to Cedar Money.
• Robust Security: With our multi-factor authentication system, you can rest assured that your data and funds are in safe hands
• Dedicated Support: Talk to real humans who understand your business needs and are always ready to help.

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Ready to experience Cedar’s difference?

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Join the growing list of high-volume operators who’ve streamlined their cross-border payments, slashed costs, and regained precious time. Whether you’re paying suppliers in China, collecting USD from Africa, or managing multi-currency payroll, Cedar Money has you covered.

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Start here and see why our clients trust us to move their money and their business forward.

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If you're thinking about expanding your business into Africa, you're not alone and you're definitely asking the right questions.

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Last week, we hosted a power-packed webinar titled "Expanding into Africa: Navigating Payments, FX, and Regulations for Global Businesses." With over 80 registered attendees and a stellar panel featuring Seye Bandele (Founder/CEO, Paid HR), Perkins Ogedengbe (Global Partnerships Lead, Payaza), Dayo Oba-Fagade (Director of Strategic Partnerships and Business Development, Cedar Money) the session delivered actionable strategies for overcoming the most pressing payment and regulatory hurdles on the continent.

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Missed the event? No worries. We’ve distilled the session into five essential insights that every global business should know before diving into African markets.

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1. Africa’s Payment Infrastructure Is Still Fragmented

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“No two African countries operate the same way when it comes to payments,” said Perkins Ogedengbe.

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From high transaction fees to inconsistent banking systems, navigating Africa’s fragmented payment infrastructure can be daunting.

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As Perkins explained, African countries operate under different payment systems, making expansion especially challenging. Businesses often face banking bottlenecks, high costs, long processing times, and complex regulatory requirements.

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The takeaway? You’ll need a tailored payment strategy for each market and ideally, the support of local partners to make it work.

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What you can do: Partner with PSPs that understand the local payment landscape and prioritize flexibility in how you send and receive funds.

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2. FX Volatility Can Break Your Expansion Strategy

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Volatile exchange rates, especially in countries like Nigeria and Ghana, can erode margins and complicate financial planning. The panel recommended tracking liquidity patterns, building hedging strategies, and looking for opportunities to increase your export inflows.

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Perkins explained that the FX market often reacts emotionally, moved by liquidity, sentiment, and even global headlines.

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What you can do: Work with payment providers like Cedar Money that offer competitive FX rates and stablecoin-based settlements to reduce volatility risk.

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3. Regulatory Clarity Is Rare But Navigable

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Africa’s regulatory environment is anything but uniform. From licensing to capital controls, expanding into multiple countries means navigating multiple legal frameworks.

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As Seye put it, businesses can’t assume global strategies will copy-paste into Africa. “The local context matters. Study how people pay, what licenses are needed, and who your customers trust.”

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The best approach? A phased market entry: start small, learn fast, and scale smart.

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What you can do: Before launching, consult with legal and compliance experts, and consider entering new markets through partnerships with already licensed entities.

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4. Stable-coins & Crypto Are Gaining Traction (But Tread Carefully)

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Stable-coins aren’t a one-size-fits-all solution, but Perkins noted they can solve real cross-border payment challenges if used with trusted, licensed partners like Cedar Money.

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While regulation still lags behind adoption, forward-thinking businesses are already using digital assets to speed up transactions and sidestep liquidity constraints.

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What you can do: Explore payment providers like Cedar Money who leverage stable-coins and assess the regulatory landscape in your target markets before committing.

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5. Cedar Money Helps You Scale Across Africa with Confidence

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“At Cedar, we use stable-coins to move money compliantly and quickly across borders,” shared Dayo, Director of Strategic Partnerships and Business Development at Cedar Money.

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Cedar Money’s multi-currency infrastructure and API-first platform empower global businesses to pay and get paid across Africa efficiently. By leveraging stable-coins, local payout rails, and robust compliance features, Cedar removes the friction from cross-border growth.

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What you can do: If you’re planning to scale in Africa, let Cedar Money handle the complexities so you can focus on growth.

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Conclusively,

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Africa offers massive growth potential, but it’s not a one-size-fits-all market. The businesses that succeed in Africa will be the ones who adapt fast, build strong local partnerships, and choose the right infrastructure from day one.

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So, whether you're a startup looking to enter your first African country or a multinational fine-tuning your expansion strategy, insights from this webinar can help you move forward with clarity and confidence.

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Want to chat with us about how Cedar Money can support your expansion? Book a call with our team.

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