Cedar Blog

The African continent presents a wealth of opportunities for global businesses. From rapidly growing consumer markets to a rich resource base, Africa is a land of potential. However, for incorporations looking to tap into this dynamic market, navigating the complexities of cross-border payments can feel like trying to chip away at a brick wall with a metal spoon.

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Traditional methods often involve lengthy processing times, high transaction fees, cumbersome processes and unpredictable exchange rates, creating friction and hindering growth.

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All of that fades into the past with the Cedar Money Mobile App.

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Cedar Money: A Game Changer in Global Payments

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Cedar Money empowers businesses in the US, UK, Europe, Asia and globally to seamlessly receive payments from African merchants. By leveraging stable-coins, Cedar rewires the outdated, inefficient SWIFT and correspondent banking network rails with cutting-edge payment infrastructure, making it easier, faster, and more cost-effective than ever before.

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Here's how Cedar helps you navigate the complexities of cross-border payments in Africa and confidently expand your reach into the African market:

• Fast and Secure Payments: Receive payments from African customers quickly and securely, minimizing delays and reducing the risk of fraud.
• Competitive Exchange Rates: Benefit from competitive exchange rates, maximizing your revenue and minimizing costs.
• Transparent Fees: Say goodbye to hidden fees and enjoy transparent pricing with no surprises.
• Enhanced Security: Our robust security measures protect your funds and ensure the safety of your transactions.
• Streamlined Operations: Our user-friendly platform simplifies the entire payment process, saving you time and resources.

Are you ready to unlock the African market?

With Cedar, you can focus on building your business while we handle the complexities of cross-border payments. Sign up today to get started!

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As an importer, you know the drill— sourcing the best products, juggling multiple suppliers, negotiating the best deals, and managing a complex supply chain. But what about the financial side?

Knowing how difficult international payments typically are, what do you do when you urgently need to make a high-volume payment to one of your suppliers in China and have a tight deadline to meet?

Introducing the Cedar Money Mobile App!

Imagine a world where you can manage all your cross-border payments on-the-go, from the palm of your hand.

That’s right, the Cedar Money App is now available for download on the App store and Google Play. So, no more juggling multiple devices or waiting till you’re able to log into your computer.

With the Cedar money app, you can:

• Send and Receive Money Instantly: Need to make a quick payment? No problem. Send and receive high-volume business payment in real-time, right from your phone.
• Track Your Payments: Keep an eye on your transactions and stay updated on their status, all on your dashboard.
• Set Rate Alerts: Never miss out on a great exchange rate. Set alerts and get notified when your target rate is reached.
• Earn Rewards: That’s right, you can earn $180 for each new business you refer to Cedar Money.
• Access 24/7 Support: Need help? Our dedicated support team is just a tap away.

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With just a few taps, you can effortlessly send up to $30,000,000 to over 130 countries around the world.

Ready to experience the future of payments? Download the Cedar Money app today from the App Store or Google Play.

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As an African business owner, you're likely considering expanding your reach into global markets. With China being the largest source of imports in the world, it’s no surprise that they’re at the top of your list.

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Agreed, expanding your business to China can be a game-changer. However, navigating the complexities of international trade, especially when it comes to payments, can be a daunting task. The labyrinth of traditional banking systems, coupled with high fees, slow processing times, and uncertain exchange rates, often leaves businesses frustrated and their cash flow stifled. This is enough to send anyone running and screaming in the opposite direction.

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Imagine paying your supplier in China and converting your funds from your local currency to US dollars first and then to the Chinese Yuan. Remember that each conversion typically comes with its own fees and processing time. That’s time and money that could be better spent growing your business.

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With Cedar’s rate alerts feature, you save money on your transactions as you get to set an exchange rate that’d benefit you and get notified when your target rate is reached.

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Not to mention, these delays could also make it difficult to build good relationships with your suppliers. How? Many times, you cannot provide an exact time or date they’d be receiving their funds, and even worse, the funds may arrive as a lesser amount than what you sent due to various fees that you are unaware of deducted along the way. That could come off as a glaring red flag to your Chinese suppliers.

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For these reasons and many more, the question on your mind shouldn’t be how to pay your Chinese suppliers from Africa but, “What is the best (and fastest) way to pay your Chinese suppliers from Africa?”

Thankfully, the answer is simple, seamless, and fast— Cedar Money.

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Cedar Money: Your Solution for Seamless Cross-Border Payments

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Cedar Money is designed to simplify your international payments, making your business operations far more efficient and profitable. Forget about cumbersome processes when paying your Chinese suppliers from Africa. Cedar Money is a modern and innovative solution to the challenges posed by traditional banking methods. By leveraging cutting-edge blockchain technology, we’ve made it easier for your funds to get to where you need them to be when you need them to be there.

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Why Choose Cedar Money?

• Faster Payments: Forget about waiting days or weeks for your payments to your Chinese suppliers to be processed. With Cedar, you get to accelerate your supply chain and improve cash flow with our fast payment processing times (t + 1 settlement).
• Transparent Fees: Say goodbye to hidden fees or surprise charges that eat into your profit margins. Our pricing is clear and competitive and enjoy competitive rates.
• Enhanced Security: Your funds are safe with us. We use cutting-edge security measures to protect your business and your funds
• Simplified Process: Our user-friendly platform makes international payments a breeze. Not only can you pay your suppliers in China but you can easily pay your suppliers in over 130 countries around the world.
• Features that serve you: Enjoy awesome features on Cedar that are engineered to move your business forward; rate alerts to let you know when rates are favorable to you; a rewards program that allows you to earn money when you refer other businesses, and so much more.

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Experience the Cedar Money Difference

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By choosing Cedar, you're not just making a payment; you're investing in a better future for your business. With Cedar, you can:

• Focus on Growth: Spend less time on payment hassles and more time growing your business.
• Strengthen Relationships: Build stronger relationships with your suppliers by ensuring timely payments.
• Gain a Competitive Edge: Stay ahead of the curve with efficient and reliable payment solutions.

Ready to start making payments to your Chinese suppliers faster and easier?  Sign up on Cedar today!

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Cross-border payments are the lifeblood of global businesses. They enable companies to expand their markets, source products from around the world, and pay suppliers and partners across borders. However, these transactions can be complex and fraught with challenges, including high fees, slow processing times, and fluctuating exchange rates.

Whether you're a small business owner or a multinational corporation, understanding the best practices can help you streamline your operations, reduce costs, and improve efficiency. We've outlined five best practices you can implement for safe and efficient cross-border payments:

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1. Choose the Right Payment Provider

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Selecting the right payment provider is crucial to the success of your international transactions. When choosing a provider, consider the following factors:

• Fees and Exchange Rates: Look for a provider that offers transparent and competitive fees and exchange rates— and avoid those who change rates after quoting. Ensure that the provider offers clear and upfront pricing, with no hidden fees or surprises. By doing your research,  making enquiries and comparing different providers, you can find the best deal for your specific needs.
• Speed of Transfer: Opt for a provider that can process your payments quickly. For instance, if you need to urgently pay a supplier overseas, a faster transfer time can prevent potential disruptions to your supply chain.
• Security and Compliance: Protecting your funds and ensuring compliance with global regulations is paramount. Choose a provider that prioritizes security, adheres to strict industry standards, and implements robust measures to prevent fraud, money laundering, and terrorist financing. By selecting a reputable provider like Cedar, you can have peace of mind knowing that your financial transactions are secure.
• Tailored to your business needs: Seek out a payment provider whose services are tailored to your business needs. For example, does your business deal with high volume transactions? Then you should choose a payment provider that has the capacity to handle such transactions.

Cedar Money is a great example of a reliable and secure payment provider that offers competitive rates, fast transfer times (t + 1 settlement), and can handle your high volume transactions, whether you are sending or receiving funds internationally.

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2. Optimize Your Payment Process

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A well-optimized payment process can save you a lot of time and money. Here are some tips to streamline your cross-border payments:

• Automate Payments: Use payment automation tools to schedule and process payments automatically.
• Centralize Payment Management: Use a centralized platform to manage all your international payments. This is where choosing a payment platform like Cedar, that allows you send and receive payment in your local currency from over 130 countries around the world, comes in.
• Reconcile Payments Regularly: Keep track of all your payments to ensure accuracy and identify any discrepancies. It’s crucial that you regularly compare your records of payments made and received with the actual transactions that have occurred. This way, you can catch errors early and fix them quickly, identify any unauthorized transactions and ensure your financial records are up to date and accurate.

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3. Understand Currency Exchange Rates

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Currency exchange rates can fluctuate, impacting the cost of your international transactions. Here are some tips to minimize exchange rate risk:

• Monitor Exchange Rates: Keep a close eye on exchange rate movements and identify favorable opportunities.

Or better still, turn on Rate Alerts on Cedar Money to set your target exchange rate and get notified when your target is reached.

• Consider Currency Hedging: Just like an umbrella protects you from the rain, currency hedging can shield your business from the unpredictable fluctuations in exchange rates. By implementing strategies like forward contracts or options, you can lock in a specific exchange rate, reducing the risk of financial losses.

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4. Ensure Compliance with Regulations

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Non-compliance with international regulations can lead to significant penalties and legal issues. Here are some tips to stay compliant:

• Know the Rules: Navigating the complex web of international regulations can be daunting. By partnering with a reputable payment provider like Cedar, you can rest assured that your transactions are compliant with local and international laws. We work with licensed financial institutions worldwide, adhering to the strictest financial regulations.

Keep in mind that ignorance is not an excuse. It's crucial to familiarize yourself with the regulations in the countries you're doing business with. However, by choosing a reliable partner, you can simplify the compliance process and minimize risks.

• Use a Compliant Payment Provider: Choose a provider that adheres to international standards and local regulations. It’s your duty to do your due diligence and ensure that your service provider is compliant.
• Maintain Accurate Records: Keep detailed records of all your international transactions for reference purpose. With Cedar, you can easily keep track of all your international transactions. Download detailed reports of your payments, including dates, amounts, and exchange rates. This will help you stay organized, identify trends, and make informed financial decisions.

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5. Leverage technology

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In today's digital age, technology can be a powerful tool to simplify and streamline your cross-border payments. Platforms like Cedar Money offer a range of features that can save you time, improve efficiency, and give you peace of mind.

• Mobile App Convenience: Manage your international payments on the go with Cedar Money's user-friendly mobile app. Send and receive payments, track their status, and receive instant notifications – all from your smartphone or tablet.
• Real-Time Tracking: Stay informed every step of the way with real-time tracking of your transactions. Cedar Money provides a comprehensive dashboard and sends notifications via WhatsApp and email to keep you updated on the progress of your payments.
• Never Miss a Favorable Rate: Take advantage of Cedar Money's Rate Alerts feature. Set your desired exchange rate and receive instant notifications when the market reaches your target, allowing you to lock in the best possible rate for your transfer.
• High Transaction Limits: Whether you're a small business owner or a large corporation, Cedar Money can handle your needs. Send and receive up to $30 million from clients around the world, ensuring smooth and efficient execution of even your high-volume transactions.

By following these best practices and leveraging a reliable payment provider like Cedar Money, you can streamline your cross-border payments, reduce costs, and improve your overall financial performance.

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Remember, a well-optimized payment process can significantly impact your business's bottom line. By taking the time to understand the nuances of international payments and implementing the right strategies, you can ensure that your global transactions are efficient, secure, and cost-effective.

Ready to simplify your cross-border payments? Sign up for Cedar today and experience the difference.

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A lot of the time, making an international payment can feel like you're playing a game of chance; trying to time your transactions just right to catch the best exchange rates and maximize your profits.

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But what if you could take the guesswork out of it?
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Introducing Cedar's new Rate Alerts feature— a true game changer for your cross-border payments.

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Just imagine: You're about to make a big-ticket purchase to an overseas supplier. You've been keeping a close eye on the exchange rates, but you're still unsure if you're getting the best deal. Then, suddenly, your phone buzzes.  It's a Rate Alert from Cedar, letting you know that the exchange rate for your preferred currency pair has hit your target.

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No more waiting around, no more second-guessing. With Rate Alerts, you're always one step ahead.

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How Rate Alerts Can Benefit Your Business

• Optimize your cash flow: By setting up alerts for specific exchange rates, you can time your payments to maximize your savings.
• Reduce transaction costs: Avoid paying excessive fees by making payments at the most favorable exchange rates.
• Improve decision-making: Stay informed about market trends and make data-driven decisions for your international transactions.
• Enhance risk management: Mitigate the impact of unfavorable exchange rate fluctuations on your business.
  

How does it work?

1. Set your desired exchange rates: Choose your favorite currency pairs and specify your desired exchange rates.
2. Get real-time alerts: We'll send you instant notifications via email or WhatsApp as soon as the rates hit your target.
3. Make informed decisions: Use this real-time data to optimize your transactions and maximize your savings.
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Why choose Cedar's Rate Alerts?

• Stay informed: Never miss a favorable exchange rate again.
• Save time: Get instant alerts without constantly checking the market.
• Make smarter decisions: Use data-driven insights to optimize your transactions.
• Reduce stress: Say goodbye to the anxiety of fluctuating exchange rates.
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Ready to take control of your international payments? Create your Cedar account and set up your rate alerts today!

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You can earn up to $180 for every successful referral you make on Cedar Money. How? We’ll get into that. But first, introductions.

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What is Cedar Money?

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Cedar Money is a financial services platform that specializes in international payments. It offers businesses an easy way to send and receive money across borders seamlessly and securely. Its services include:

1. High-volume Cross-border payments: Sending and receiving payments in various currencies.
2. T+1 settlement: Ensuring speedy transactions globally
3. FX services: Converting currencies at competitive rates.
4. Secure payments: Cedar employs state-of-the-art security measures to protect your funds and transactions.

Do you want to pay your supplier $100,000 for some goods? It’s the exact kind of high-volume transaction Cedar specializes in. Not only can they receive the payment in their local currency if they choose to but they can also convert them at competitive rates on Cedar. The best part is that it works the exact same way if you’re on the receiving end of a payment.

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Cedar’s Referral Program

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With the launch of Cedar’s referral program, you are not only benefiting from its seamless cross-border payment solutions but also earning substantial rewards for introducing other businesses to the Cedar platform. It's a win-win situation, plain and simple.

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Your Rewards In Numbers

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The more your referred business achieves, the more you earn. Here's a breakdown of the rewards:

1. Once your referral is approved and your referred business completes its Know Your Business (KYB) verification, you both earn $30.
2. You both earn $100 when your referred business completes their first transaction of $10,000 or more anytime within the first 3 months after they sign up.
3. Every 3 months, when your referee completes cumulative transfers of $300,000 or more, you both earn $50.
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How To Successfully Refer a Business:

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1. Copy your unique referral link from your Cedar Rewards dashboard.
2. Share your referral link on any platform or directly with the business you want to refer.
3. They sign up using your link, get approved, and start transacting.
4. Sit back, track your referrals, earn, and refer some more!
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What are you waiting for? Create your Cedar account today and start referring and reaping rewards!

Still wrestling with complex payment platforms and hefty transaction fees when trading globally? No wonder it’s so draining. International trade can be tedious, worsened by the obscurity of finding safe and secure platforms to make cross-border transactions. High fees, slow transfer times, and currency exchange headaches are par for the course.

Cedar offers a seamless solution to streamline this process. With Cedar, you can effortlessly send and receive payments across borders, saving time and money while ensuring security.

Time is Money: The High Cost of Delays in Global Trade

Regardless of business size, delays in global trade can have far-reaching consequences for your business. One of the most significant of these is its impact on supply chain management. When payments are delayed, it can have a domino effect which slows down goods procurement, shipment, and eventual turnover of capital and profit. The disruption of this carefully orchestrated flow can lead to:

1. Lost sales: The final goal for any business is to make sales and improve its bottom line. However, this can easily become an unattainable fantasy when for instance, supplier payments are delayed, impacting production schedules and leading to an eventual loss of sales.
2. Increased costs: When there’s a delay in the supply chain process due to payment issues, businesses tend to incur a lot of unplanned costs like express shipping fees, additional storage fees, stock-outs, and issuing refunds to dissatisfied customers or other business partners.
3. Reputation damage: While this may not be an immediate impact, delayed deliveries can leave customers dissatisfied with your services, damage customer relationships and diminish customer loyalty that is already difficult to earn without issues like this.
4. Cash Flow constraints: When payments are delayed, it becomes increasingly difficult for businesses to meet up with operational costs, let alone invest in its growth and expansion. This can have a ripple effect where businesses struggle to meet customer expectations or even be on par with competitors in the industry.

To stay relevant and profitable in the global marketplace, you must address these challenges.

Cedar: Your Fast Lane to Global Success

Like most things in today’s world, the global marketplace is incredibly fast-paced. Hence, time is of the essence. From impacting cash flow to disrupting supply chains, there is barely any room to cushion the effects that delayed payments can have on your business. This is why Cedar is committed to addressing these challenges with its swift and secure payment solution.

With Cedar, here are a couple of benefits you stand to gain as a business:

Streamlined Payment Processes

Gone are the days of relying on complex and costly wire transfers that eat into your profit margin. With Cedar, you can effortlessly handle transactions of up to $3,000,000, paying your suppliers and merchants in over 130+ countries from Nigeria, Kenya and Ivory Coast— and businesses around the world can in turn send payments to you in these countries. By eliminating the hassle of cross-border transactions, Cedar introduces efficiency and makes the payment process smooth for both you and your suppliers. Essentially, “it’d be good doing business with you.”

Currency Flexibility

Enjoy unparalleled currency flexibility with Cedar. It empowers you to receive payments from clients worldwide and pay your suppliers in their preferred currency. Whether you're sourcing goods from China and need to pay in Yuan/RMB or dealing with suppliers in Europe who prefer Euros, Cedar offers the flexibility to pay in the currency that works best for your business partners. This way, you shave off the hassle of currency conversion fees and exchange rate fluctuations. Now, you have simpler financial operations and improved supplier relationships.

Swift and Secure Payments

One of the significant challenges businesses face when making international payments is being forced to make a daunting choice: prioritize speed and risk security or opt for security at the expense of efficiency. However, with Cedar, you get the best of both worlds. Coupled with Cedar’s fast transaction processing times (T + 1 settlements) which help your business maintain a healthy cash flow, it also employs state-of-the-art security measures to protect your funds and transactions.

Total Transparency

One key factor in building successful business relationships is trust and transparency. Hidden fees or markups are a threat to this. This is why at Cedar, we pride ourselves in providing clear and upfront pricing. With Cedar’s transparent fee structure, you can budget and forecast your business expenses accurately. By offering a transparent fee structure, Cedar empowers you to make informed decisions about your business and avoid unexpected costs.

Do Business Like You Mean Business

For you to succeed in the global marketplace, you need solutions that mirror your ambition. Cedar is not just a payment platform; it’s a strategic partner designed to bring your goals into your attainable orbit and propel you toward success. By taking out the complexities that come with cross-border transactions, Cedar makes it easy for you to focus on what truly matters— growing your business.

With Cedar, you don’t just make payments; you make a statement. A statement of efficiency, security, and commitment to success. Are you ready to do business like you mean business? Get started today!

Cedar Money is a global financial technology company focused on simplifying cross-border transactions for businesses in Africa. With Cedar, businesses can send high-volume payments to their merchants or suppliers in over 130+ countries, across the globe.

Cedar’s offerings are designed to connect businesses in Nigeria, Kenya, and Ivory Coast to the global economy, enabling these businesses to explore new markets, and ensuring fast, transparent, and secure financial solutions.

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Exciting New Features Unveiled

The Cedar app is an innovative financial technology solution that addresses the complexities of cross-border payments in Africa. The newly launched web app boasts several features, including:

1. Comprehensive Dashboard: This feature enables clients to track all transactions in one place, enhancing transparency and ease of use.
2. Multi-User Access: With this app, team members can collaboratively manage finances with a single account.
3. FX Calculator: The app also includes an FX calculator which enables clients to efficiently calculate and get an indication of our competitive rates.
4. Send and Receive Feature: This feature enables seamless cross-border transactions and payment transfers, allowing businesses in Nigeria, Kenya, and Ivory Coast to send money to their suppliers overseas, and also for businesses worldwide to receive payments from these countries.
5. Hold: This feature allows clients the ability to buy USD from Cedar, at affordable rates, and hold on to it for as long as they wish, before deciding to send to their suppliers or merchant. ******
6. Referral Rewards System: clients can earn rewards by referring others to the platform. With this feature, clients can enjoy incentives by simply sharing their unique codes to businesses in need of Cedar’s services.
7. Cedar Debit Cards: This feature will facilitate easier payments to businesses globally. With access to the debit card, clients will be able to conveniently pay business expenses within or outside Africa, at affordable rates.

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Benefits for Businesses in Nigeria, Kenya, and Ivory Coast.

Cedar offers a comprehensive suite of benefits tailored for businesses in Nigeria, Kenya, and Ivory Coast. Our platform provides competitive FX rates and rapid T+1 settlements, ensuring that cross-border transactions are both efficient and cost-effective. With personalized service, we assist businesses in navigating complex financial systems, thereby enhancing customer trust through timely and secure payments in their preferred currencies. Cedar serves as a one-stop shop where businesses can obtain their full FX allocation, streamlining the process and eliminating the need for multiple banking relationships. Our goal is to simplify international transactions, allowing companies to focus on growth and expansion in these dynamic markets.

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Cedar’s Commitment to Security and Transparency

Cedar is committed to providing secure, transparent and compliant cross-border transactions, ensuring our clients have a reliable and efficient platform for their financial needs.

With a competent team of experts with decades of experience, we are well equipped and dedicated to connecting your business to the global economy. We are a customer-centric company, and the safety of your transactions is our priority.

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Launch Date and Signup Information

The Cedar app is set to launch on the 8th of July, 2024. Small, medium and large enterprises, business owners, importers and exporters in Africa interested in leveraging our innovative payment solution can sign up here.

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