Cedar Blog

If you’re an African business owner looking to source quality products, expand supplier networks, or explore new market opportunities, there’s one place that is no doubt on your 2025 calendar: The Canton Fair in Guangzhou, China.

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Often called the “Olympics of Trade,” the Canton Fair is the world’s largest and oldest trade exhibition, attracting over 253,000 international buyers from 214 countries and regions, with African businesses representing one of the fastest-growing buyer demographics. Every year, thousands of African importers, merchants, and business owners arrive at Guangzhou, China, to source everything from electronics to textiles, building materials and consumer goods.

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But many leave empty-handed or with suboptimal deals because they don't understand that sourcing success at the Canton Fair is more than just finding products; it's about having the operational infrastructure to close deals faster than your competitors.

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This guide walks you through how to maximise the 2025 Canton Fair, from pre- and post-fair events. More importantly, it shows you how to turn vendor contacts into real, profitable business relationships.

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Why the Canton Fair Matters for African Businesses

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The Canton Fair (also called the China Import and Export Fair) is held twice annually in Guangzhou, China. It's the largest trade event in the world by exhibition scale, featuring over 31,000 exhibiting firms, with over 3,300 new exhibitors joining the lineup for the upcoming 138th session.

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To put that in perspective: The fair spans ~74,000 booths across a total exhibition area of approximately 1.55 million square meters. That's equivalent to 200+ football fields of product displays, networking opportunities, and sourcing possibilities.

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For African businesses, the Canton Fair represents something more profound than just a sourcing event. It's direct access to the world's manufacturing backbone at a scale and price point that's rarely available elsewhere.

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Why African Businesses Are Flocking to the Canton Fair

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African importers and business owners attend the Canton Fair for specific, high-value reasons:

• Direct Access to Verified Chinese Suppliers: Instead of navigating online platforms or relying on middlemen, you meet manufacturers face-to-face. You can inspect product quality, verify certifications, and assess production capacity in real time.
• Significant Cost Savings from Bulk Buying: Chinese manufacturers offer aggressive pricing at scale. A bulk order placed at the Canton Fair can be 15-30% cheaper than ordering through online channels due to the elimination of middlemen and direct negotiation.
• Exposure to Innovation and New Product Trends: The fair showcases the latest manufacturing innovations. You get early access to trending products, new materials, and manufacturing techniques before they saturate the market.
• Opportunities for Building Long-Term Supplier Relationships: One-time deals become repeat business. Suppliers who meet you in person are more willing to offer flexible terms, and better pricing in future transactions.
• Efficiency at Scale: For the 137th Fair, by the end of Phase 2, approximately 224,372 overseas buyers from 219 countries and regions attended. This density of buyers creates a competitive environment where suppliers are motivated to offer their best terms to secure business.

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The 2025 Canton Fair Dates

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The 138th Canton Fair runs in three phases throughout October-November 2025:

• Phase 1 (October 15-19): Electronics, appliances, industrial manufacturing, hardware
• Phase 2 (October 23-27): Home decor, furniture, housewares, consumer goods
• Phase 3 (October 31-November 4): Textiles, clothing, health products, medical equipment

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Your first strategic decision is to decide: Which phase aligns with your product category?

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What Is the Canton Fair (and Why Is It Worth Your Time)

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Understanding the Fair's Structure

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The Canton Fair operates in two formats: a physical onsite exhibition and the online virtual fair. Most African businesses prioritize the physical experience because it allows for face-to-face negotiations, product sampling, and relationship building, elements that digital interactions can't replicate.

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The fair also holds in three phases:

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Phase 1: Industrial & Technology Focus

• Target suppliers: Electronics manufacturers, appliance makers, machinery producers, industrial hardware.
• Best for: Tech-driven importers, OEM/ODM buyers, industrial retailers.
• Why African businesses care: Quality electronics and appliances command premium margins in African markets. Direct sourcing at Canton Fair eliminates middlemen and improves profitability.

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Phase 2: Consumer Goods & Home Furnishings

• Target suppliers: Furniture makers, home décor producers, kitchenware manufacturers, consumer lifestyle brands.
• Best for: Retailers, home goods aggregators, furniture importers.
• Why African businesses care: Home and lifestyle products are high-margin, trend-sensitive categories. Direct access to manufacturers means you can stay ahead of market trends.

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Phase 3: Textiles, Apparel & Health Products

• Target suppliers: Clothing manufacturers, textile producers, footwear makers, health and wellness brands.
• Best for: Fashion importers, apparel retailers, health product distributors.
• Why African businesses care: Fashion and textiles are extremely trend-sensitive. Face-to-face relationships with manufacturers mean early access to seasonal collections and custom production capabilities.

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The Scale of Opportunity

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The sheer volume of suppliers is staggering. Over 31,000 exhibiting firms means you have access to:

• Multiple competing suppliers for virtually any product
• Diverse product quality tiers (from budget to premium)
• Various production scales (from small batch to massive volume)
• Different service models (OEM, ODM, wholesale, dropship)

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This competition works in your favor. Suppliers want your business and will offer competitive pricing, flexible terms, and customization options to win it.

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Why African Businesses Should Care

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1. Cost Leadership

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Buying directly from Chinese manufacturers at the Canton Fair can reduce your product costs by 15-40% compared to buying through distributors or online marketplaces. On a $100,000 order, that's $15,000-$40,000 in cost savings or margin improvement.

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2. Quality Assurance

You inspect products before committing to bulk orders. You verify certifications, check manufacturing processes, and assess quality control systems firsthand.

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3. Speed to Market

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Direct relationships with manufacturers mean shorter lead times. A supplier that likes you will prioritize your orders, reduce production timelines, and expedite shipping.

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4. Customization and Innovation

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Many African markets have specific requirements like voltage standards, packaging preferences, branding needs. Direct suppliers can accommodate these requests more flexibly than online marketplaces.

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Now that you understand why the Canton Fair matters, let's talk about how to prepare effectively.

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Preparing for the Canton Fair

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Success at the Canton Fair begins before you arrive in Guangzhou. Seeing as the upcoming fair is just 6 days away, we’d assume that you have already registered, secured your invitation and sorted logistics.

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Here are two things you should do to maximize your preparation:

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1. Research in Advance

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Use the Canton Fair Online Directory

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The official Canton Fair website maintains an online directory of all exhibitors, organized by product category and company profile.

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Start your research before your preferred phase:

• Identify 15-20 target suppliers per product category
• Review their company profiles, certifications, and production capacity
• Note their booth locations and exhibition phases
• Check if they have previous experience serving African markets

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Leverage Online Platforms

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Supplement your research with platforms like Made-in-China, Alibaba, and Global Sources. Cross-reference suppliers you find on the Canton Fair directory to verify legitimacy and customer feedback.

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Create a Shortlist

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Narrow your 15-20 prospects to 8-10 priority suppliers. These should be suppliers who:

• Have proven production experience in your product category
• Show evidence of international business (certifications, previous exports)
• Demonstrate reasonable pricing compared to peers
• Have positive customer reviews or references

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2. Define Your Goals

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Before you go, be clear on what success looks like:

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Sourcing Goals:

• How many new suppliers do you want to identify?
• What's your target minimum order quantity (MOQ)?
• What price points are you targeting?

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Relationship Goals:

• Are you looking for long-term partnerships or one-off deals?
• Do you want suppliers who offer OEM/ODM services or standard wholesale?

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Product Goals:

• Are you exploring new product categories or sourcing from existing categories?
• Do you need customization or standard products?

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Write these goals down. They'll guide your decision-making at the fair.

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What African Businesses Can Expect at the Fair

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Walking through the Canton Fair for the first time can be overwhelming. Here's what to expect and how to navigate efficiently.

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What the Fair Looks Like

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Imagine a space the size of 200+ football fields filled with product displays, negotiation areas, and networking hubs. Each exhibitor has a booth (often multiple booths for large companies) displaying their products, company information, and catalogs.

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The atmosphere is professional but energetic. Suppliers are actively seeking new buyers, so they'll approach you with product pitches, pricing proposals, and business cards.

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Walking Through Efficiently

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1. Prioritize Your Shortlist

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Use the first day to visit your pre-researched priority suppliers. This accomplishes two things:

• You confirm the supplier's legitimacy and production capability in person
• You initiate serious negotiations with proven vendors

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2. Leave Room for Discovery

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While visiting your shortlist, explore adjacent booths and nearby suppliers. Some of your best deals could come from unexpected discoveries—suppliers you didn't pre-research, but offer compelling pricing or products.

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3. Time Management

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The fair is massive. You can't visit every supplier. Focus on quality meetings over quantity. Spend 15-20 minutes with each priority supplier, long enough to discuss your needs and exchange information.

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Networking Efficiently

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To make the best quality connections, there are a couple of things to note:

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1. Language Barriers

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Most large suppliers have English-speaking sales representatives. For smaller suppliers, bring:

• A translation app on your phone (Google Translate works well for product discussions)
• Basic Mandarin phrases (suppliers appreciate the effort)
• An interpreter if you're negotiating complex technical requirements

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2. The Business Card Ritual

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Business cards are a cornerstone of Chinese business culture. When meeting suppliers:

• Receive their card with both hands (respectful gesture)
• Take time to read it (don't immediately put it away)
• Exchange your card similarly

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This ritual builds rapport and shows respect for Chinese business customs.

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3. Leverage Group Meetings

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Many suppliers host group presentations or briefings. Attend these—they often reveal production capabilities, certifications, and competitive advantages you won't learn in one-on-one conversations.

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Evaluating Suppliers Critically

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1. Certifications matter and here are some to look for:

• ISO 9001 (quality management)
• CE Marks (for electronics and safety products)
• FDA Approvals (for health and food products)
• Industry-Specific Certifications (depending on your product)

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Ask suppliers to provide copies of their certifications. Legitimate suppliers proudly display them.

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2. Assess Production Capacity

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Ask suppliers:

• "What's your typical monthly production volume?"
• "How many shifts do you operate?"
• "What's your current capacity utilization?"

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This tells you whether they can handle your order volume and timeline.

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3. Understand Minimum Order Quantities (MOQs)

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MOQs vary widely. Some suppliers accept 100 units per order; others require 10,000+. Negotiate MOQs that align with your business. Smaller MOQs mean more flexibility; larger MOQs mean better per-unit pricing.

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4. Evaluate Payment Flexibility

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This is critical for African businesses. Ask:

• "What payment terms do you offer?" (50% upfront + 50% on delivery? 100% upfront? Net-30?)
• "Do you accept digital payment methods?" (bank transfers, stablecoins, payment platforms)
• "What's your cancellation policy if quality issues arise?"

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Payment flexibility is often a bigger deal than a 5% price discount. A supplier offering Net-30 terms is more valuable than a supplier offering a 5% lower price but demanding 100% upfront payment.

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Handling Samples, Quotes, and Contracts

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Product Samples

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Request samples for critical products. Most suppliers provide samples at minimal cost (often free) during the fair.

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Key points:

• Take photos of samples with the supplier's booth number visible
• Get written specification sheets
• Clarify if the sample represents final production quality
• Ask about lead times for actual production

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Quotes

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Request written quotes covering:

• Unit price
• MOQ
• Lead time from order to shipment
• Packaging details
• Shipping cost options (FOB, CIF, etc.)
• Payment terms

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Make sure to compare quotes across 3-4 suppliers before deciding.

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Contracts

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Large orders should be formalized in contracts. Key elements:

• Product specifications and quality standards
• Pricing and payment terms
• Delivery timeline and logistics responsibility
• Quality control and inspection processes
• Dispute resolution mechanisms
• Cancellation policies

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Many suppliers provide template contracts. But be sure to have a legal advisor review before signing.

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Modern Payment Options at the Fair

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An important note: Many exhibitors now accept digital cross-border payments. This is a major shift from even 3-4 years ago. Several large suppliers accept:

• Wire transfers (traditional)
• WeChat Pay / Alipay (for smaller transactions)
• Stablecoin-based payments (increasingly common for B2B transactions)
• Multi-currency payment platforms

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This shift is critical for African businesses because it means you have payment options beyond traditional banking, which can be slow and expensive. We will share more on this later.

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Turning Contacts into Real Deals After the Fair

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The fair ends. You return home with business cards, samples, quotes, and ideas. Now the real work begins: converting contacts into actual, profitable business relationships.

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1. Immediate Follow-Up (Within 48 Hours)

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Send personalized emails to your priority suppliers within 48 hours of the fair. Here’s a short template you can use:

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Subject Line: "Follow-up from Canton Fair – [Your Company Name]"

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Email Body:

• Reference your specific conversation (show you actually engaged, not just collected cards)
• Express your interest in their products
• Request updated pricing and timeline information
• Propose a timeline for your first order

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Example: "I enjoyed meeting you at the Canton Fair on October 16th. I was particularly impressed with your LED lighting systems. I'm interested in placing an initial order of 5,000 units and would like to confirm pricing, lead time, and your payment terms. Could we schedule a call next week?"

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2. Vet Suppliers Thoroughly

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Before committing to a large order, verify supplier legitimacy:

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Factory Visit (Ideal but Optional)

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Some suppliers offer factory visits to serious buyers. If feasible, schedule a visit before your first order. Observe:

• Production quality and consistency
• Worker conditions (reflects company values)
• Production capacity and equipment
• Quality control processes

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References and Reviews

• Check Made-in-China and Alibaba reviews
• Request references from 3-4 African importers who've worked with this supplier
• Contact those references directly

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Financial Verification

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Large orders require confidence in supplier stability, so:

• Request bank references
• Check their business registration and legal status (available through Chinese business registries)
• Assess company age and historical growth

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3. Negotiate Clear Payment Terms

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This is where many African importers struggle. Common payment term options:

• 100% Upfront: Highest risk for you but gives suppliers maximum confidence. Usually results in best pricing.
• 50/50 Split: 50% upfront to initiate production, 50% upon delivery. Balanced risk.
• Net-30 or Net-60: Payment due 30-60 days after delivery. Requires strong supplier confidence in your creditworthiness but is best for your cash flow.

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Negotiation Strategy: Start by proposing Net-30 or 50/50 terms. Most suppliers will counter with 100% upfront. Meet in the middle at 50/50 or 60/40. Frame it as: "I'm a serious buyer looking for a long-term relationship. Favorable payment terms help me commit to larger volumes."

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4. Establish Quality Control Standards

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Before the first shipment, agree on:

• Inspection protocols: How will you verify quality before accepting goods?
• Acceptable defect rate: What percentage of defective units is acceptable?
• Testing standards: Will products be tested before shipment?
• Return/replacement policy: What happens if quality issues arise?

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You want to put these in writing as they protect both you and the supplier.

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How Cedar Money Simplifies Payments After the Canton Fair

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After the Canton Fair, you're managing multiple supplier relationships, juggling different payment timelines, and navigating currency conversions.

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This is where most African businesses encounter operational friction that erodes their Canton Fair cost savings. Cedar Money simplifies this complexity.

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What Cedar Money Offers

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1. Multi-Currency Support

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Pay suppliers in their preferred currency: USD, CNY, EUR, GBP.

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2. Settlement in Less than 24 Hours

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Unlike traditional banking (5-7 days), Cedar settles payments in less than 24 hours through stablecoin rails and strategic partnerships.

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What does this mean operationally?

• Suppliers receive payment confirmation faster
• Production starts on the original timeline (not 5-7 days later)
• Your goods ship on schedule
• You avoid demurrage, storage fees, and schedule delays

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For a $2 million payment, that 5-6 day acceleration is worth thousands in avoided delays.

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3. Competitive FX Rates

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Cedar prices FX conversion at competitive market rates, no hidden markups, no undisclosed fees.

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4. Transparent Fee Structure

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You know exactly what you're paying. No surprise charges hidden in exchange rates.

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5. Access to 190+ Countries

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Cedar can send payments to China, US, Vietnam, India, and 190+ other countries. Whether you're paying a Guangzhou manufacturer or a supplier in another country, Cedar has the rails.

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Conclusion

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The Canton Fair isn't just a sourcing trip. It's a gateway to global growth for African businesses.

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Every year, thousands of African importers walk through those 74,000 booths, meet suppliers, negotiate deals, and return home excited about new product lines and cost savings. But many never realize their full Canton Fair potential because they lack the operational infrastructure to convert those contacts into consistent, profitable business.

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The importers who truly succeed at the Canton Fair are the ones who:

1. Prepare thoroughly: Know which suppliers to target before you arrive
2. Negotiate strategically: Lead with payment reliability, not just price
3. Execute flawlessly: Convert supplier contacts into formal business relationships
4. Leverage infrastructure: Use payment platforms that accelerate settlement and reduce costs

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Get ready to trade smarter this Canton Fair and when it's time to settle payments, let Cedar Money help you do it seamlessly. Get started today!

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Three weeks for a payment to clear. Hidden fees that add 30% to invoice values. Suppliers demanding 60% upfront before shipping. Welcome to cross-border trade in Africa, where "global commerce" often dies at the payment stage.

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In the unnecessarily complex world of international trade today, trust is currency. But for African importers and their overseas suppliers, that trust is increasingly strained by a growing "trust gap" driven by currency volatility and systemic payment barriers. What emerges is a high-stakes game where businesses must navigate enormous risks just to keep goods flowing across borders.

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The Scale of the Problem

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The numbers paint a stark picture of Africa's trade finance crisis. Banks in many African markets finance just 25% of goods trade, far below the 60-80% financing rates seen in developed economies, according to a recent IFC study of West Africa. This financing shortfall has cascading effects: globally, half of all SME trade finance requests are rejected, leaving businesses scrambling for alternatives.

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The unmet demand is staggering. Africa faces an annual trade finance gap estimated at $100-120 billion, with SMEs—which comprise 80-90% of African businesses—bearing the brunt of this shortage. These companies often lack access to traditional instruments like Letters of Credit or bank guarantees, forcing them into precarious payment arrangements.

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The Trust dilemma: Risk Allocation Gone Wrong

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This financing gap creates a dangerous imbalance in risk allocation between buyers and sellers.

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African importers: bearing disproportionate risk

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With bank financing severely constrained, African importers face an impossible choice. Many must pay for imports entirely up front or scramble for scarce foreign exchange in rationed markets. In Nigeria, for instance, nearly all import FX is rationed, with "not valid for forex" appearing on almost every Form M, forcing businesses to seek alternative funding sources.

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The Central Bank of Nigeria historically excluded 43 product categories—from rice and cement to textiles and packaged food—from official FX access. While restrictions on 43 items were lifted in 2023, the legacy of exclusion continues to push importers toward expensive parallel markets and non-traditional payment channels.

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This pattern isn't unique to Nigeria. Import regimes across East and Southern Africa routinely flag entire sectors—textiles, furniture, steel, plastics, agriculture—as ineligible for official FX support. The result is systematic exclusion from formal banking channels precisely when businesses need them most.

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Similar challenges plague importers across the Gulf of Africa region, creating a continent-wide crisis where legitimate businesses are forced into informal markets to survive.

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Overseas Suppliers: Demanding Certainty

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On the other side of the equation, international suppliers, burned by high rejection rates for trade finance, increasingly demand guaranteed payments before shipping goods. However, African buyers lacking bank credit cannot provide these assurances, creating a standoff that stifles trade.

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As the WTO notes, "SMEs in developing countries face the greatest challenges in accessing trade finance," with Africa's shortfall representing roughly one-third of its total market need.

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The Cost of Inadequate Infrastructure

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Even when traditional trade finance instruments are available, they come at a premium that many African businesses cannot afford.

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Letters of Credit in African markets typically cost 2-4% per transaction—an order of magnitude higher than the 0.25-0.5% rates common in advanced economies. These fees erode already thin profit margins and push smaller players toward informal channels, further fragmenting the market.

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How Businesses Adapt

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Faced with these constraints, businesses have developed workarounds, but at significant cost:

• Advance payment arrangements: Many traders now operate with 40-60% advance payment requirements, shifting enormous risk to importers
• Parallel market solutions: Companies turn to unofficial FX dealers, cryptocurrency, or diaspora networks to bridge payment gaps
• Reduced scale operations: Some businesses simply order less or accept months-long delays for partial shipments

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These alternatives come with steep costs. As of 2023, remittance fees in Sub-Saharan Africa averaged 8.5%, and Nigeria alone reportedly lost $17 billion to FX arbitrage in the year before. The result is a system where fragmented FX access and payment delays systematically undermine trade efficiency.

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Africa's Import Dependency Problem

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The trade finance crisis is particularly acute given Africa's import structure. Only about 18% of Africa's imports are sourced within the continent, compared to 60-70% of trade that stays within Asia or Europe. This heavy reliance on external suppliers magnifies the impact of payment difficulties.

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In 2023, African merchandise imports totalled approximately $676 billion, yet banks could supply only a fraction of the needed trade finance. Even with improved FX reforms, many companies still see less than 40% of their financing needs met through official channels.

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Cedar Money's Perspective

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At Cedar Money, we witness these challenges daily. From speaking to our clients, we realised that beyond access (or the lack thereof) to FX, businesses face very real, very frustrating problems when it comes to building trust. International exporters increasingly seek our reassurance when banks cannot issue Letters of Credit promptly.

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These aren't merely operational inconveniences; they represent existential challenges. FX delays mean delayed contracts, eroded supplier relationships, and increased friction throughout supply chains. The cumulative effect undermines Africa's integration into global trade networks.

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The Path Forward

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The fundamental question facing African businesses is clear: How can commerce continue to grow in a system where trusted, affordable FX access remains scarce?

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We believe the answer lies in reimagining cross-border payments through new liquidity networks and technology solutions. When businesses can pay suppliers reliably and suppliers trust in payment certainty, trade flows naturally increase. Research demonstrates that each dollar of trade finance can support dozens more in actual trade volume.

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The solution isn't simply policy reform or exchange rate adjustments; it requires building infrastructure that makes FX access faster, more transparent, and business-friendly. Only by addressing the fundamental trust gap can African businesses fully participate in global commerce and unlock the continent's enormous economic potential.

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The current system forces businesses into survival mode. The future requires tools that enable them to thrive.

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Ready to Transform your Cross-Border Payments?

Cedar Money is building the infrastructure that makes reliable, transparent cross-border payments possible for African businesses and their global partners.

Whether you're an importer struggling with FX access or an exporter seeking payment certainty, we're here to help you move beyond the constraints of traditional banking.

Get started with Cedar Money today and join the businesses already experiencing faster, more affordable international payments.

Have questions about how Cedar Money can support your specific trade needs? Contact our team for a consultation.

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Here's a number that should terrify every African importer: 52% of African businesses are operating in a constant cash flow crunch, not because they're unprofitable, but because their money is trapped in transit for weeks at a time.

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While you're waiting 5-7 days for payments to clear, your competitors in São Paulo are settling with the same Chinese suppliers in under 24 hours. Guess who's getting priority when production capacity is tight?

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While the global economy moves at internet speed, African importers are still fighting a cash flow war with weapons from the banking stone age. You’re depending on a system that was never built with them in mind. And it’s not only costing time, it's systematically destroying your competitive position.

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The Real Cost of Slow Money

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Most importers focus on the obvious costs—those 8.9% transaction fees that turn a $100,000 payment into $91,100. While these fees were way more than the global average in 2020 (6.8%), the hidden costs are where the real damage happens.

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Every day your payment sits in transit is another day of:

• Opportunity cost: That $500,000 could be generating returns or securing better supplier terms elsewhere instead of being tied up.
• Relationship strain: Suppliers start viewing you as high-risk, leading to stricter payment terms or lost priority status
• Competitive disadvantage: While you're waiting for payments to clear, competitors with faster settlement are securing better deals
• Supplier friction: Globally, payment friction is a common story: one in three SMEs have faced failed or late cross-border payments, according to Mastercard’s Borderless Payments Report. In South Africa alone, over 90% of SMEs report being paid later than the agreed 30-day terms. For African importers, this directly translates into shipments held back, strained supplier trust, and higher costs.

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What most importers don't realize is that the difference between a 7-day settlement and a 24-hour settlement isn't just 6 days, it's what tips the scales against you from being a preferred customer to being managed as a risk.

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Why Speed Became the New Currency

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The global supply chain doesn't wait for African banking infrastructure to catch up. Chinese manufacturers can choose between an importer in Lagos who pays in 7 days and one in São Paulo who pays in 24 hours.

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This isn't just theory. Recent data shows that businesses switching from traditional banking rails to faster payment systems can unlock $11.6 billion in working capital that would otherwise sit idle. For individual importers, this translates to:

• 2-3x faster inventory turnover: When you can pay suppliers within 24 hours instead of a week, you can restock faster and capture more sales cycles.
• Stronger negotiating position: Suppliers offer better terms to customers they trust to pay quickly.
• Reduced financing costs: Less time waiting for payments means less need for expensive trade finance or overdraft facilities.

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The question isn't whether fast payments matter, it's whether you can afford to keep operating without them.

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The Stable-coin Advantage: Why Technology Matters

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While traditional banks route your payments through correspondent banking networks (think multiple pit stops across different time zones), stablecoin-powered platforms like Cedar Money take a direct route.

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Here's how it works: Instead of your Naira traveling through multiple banks across three continents, losing time and value at each stop, Cedar's stable-coin rails convert your payment once and deliver it directly to your supplier within 24 hours.

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The result? T+1 settlement that turns your accounts payable into a competitive edge rather than a cash flow anchor.

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At the end of the day, it's less about the technology itself and more about what the technology enables. Stable-coins aren't just faster; they're predictable. When you can guarantee payment within 24 hours instead of "3-7 business days," you're not just moving money faster, you're building a different kind of business.

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The Strategic Play: Making Speed your Moat

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Smart African importers are already using settlement speed as a competitive moat. They're approaching suppliers not just with competitive prices, but with a value proposition that goes beyond cost: certainty and speed.

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When you can guarantee T+1 payment, you're not just another customer, you're the customer suppliers want to work with. This translates into:

• First access to new products: Suppliers share new inventory with customers they trust.
• Better payment terms: Paradoxically, paying faster often means getting longer terms when you need them.
• Priority during supply crunches: When raw materials are scarce, reliable customers get served first.
• Reduced transaction costs: Suppliers often offer better pricing to customers who pay predictably.

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The importer who controls payment speed controls supplier relationships. Those who understand this aren't just solving a payment problem, they're building a structural advantage that compounds over time.

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Beyond Payments: The Ecosystem Effect

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Here's where it gets interesting. Fast payments don't just solve the payment problem, they unlock the entire trade finance ecosystem.

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When Cedar enables T+1 settlements, you're not just getting faster payments. You're getting:

• Transparent fee structure that eliminates surprise charges and hidden costs
• Predictable cash flow cycles that make financial planning actually possible
• Reduced FX exposure because payments settle before currency volatility can impact your deals
• Access to high-volume capabilities that can scale with your business growth

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This ecosystem approach is what separates platforms like Cedar from traditional payment processors. Instead of just moving money faster, you're accessing a complete infrastructure designed around the needs of African importers.

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The Road Ahead: Why Early Adopters Win

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The African import landscape is at an inflection point. While most businesses are still fighting yesterday's cash flow battles with yesterday's tools, a small group of importers is already operating with tomorrow's infrastructure.

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These early adopters aren't just saving time and money, they're building businesses that operate fundamentally differently. They're turning payment speed into customer service, cash flow predictability into growth capital, and settlement certainty into supplier relationships that competitors can't match.

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The question for every African importer is simple: Are you going to be disrupted by businesses with better payment infrastructure, or are you going to be the one doing the disrupting?

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Because while your competitors are still explaining to suppliers why their payments are delayed, you could be explaining to your customers why your shelves are always stocked.

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Ready to turn settlement speed into your competitive advantage? Cedar Money's T+1 payment infrastructure helps African importers process up to $30M daily with predictable, transparent settlement. Because in today's economy, the business that moves fastest wins. Talk to us today!

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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!