I really like Open Exchange's real-time FX API integration with our billing platform, which allows us to offer local currency pricing with transparent exchange rates, eliminating global checkout abandonment and boosting our non-USD revenue. This feature is crucial as it locks in exchange rates at checkout, removing the manual FX calculations and preventing volatility risk for our U.S. finance team. I also appreciate the low-cost cross-border payments feature, which significantly reduces our payment costs with flat fees and 0% markup on FX rates, and processes quickly with real-time tracking. This has transformed our workflow by slashing costs and ensuring timely payments to international vendors using various payment rails. Review collected by and hosted on G2.com.
I find the processing for emerging market cross-border payments slow and expensive with Open Exchange. For SE Asia and Africa, it only supports SWIFT payments, which take 3–5 business days to process compared to 1–2 for major markets. The SWIFT fees are higher too, at $5 compared to $1–$2 for local rails. This can lead to late vendor payments in these regions and frustrates global customers who expect fast checkout and payment confirmation. Review collected by and hosted on G2.com.
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