Bill.com cuts wire-transfer fees in B2B cross-border payments race

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Bill.com is eliminating wire-transfer fees for businesses making electronic payments in local currencies in key global markets, as competition in the small-to-midsize B2B payments sector heats up.

Bill.com’s move enables businesses using its International Payments solution to pay through its website or app through a streamlined process with no wire-transfer fee, the Palo Alto, Calif., company said in a Wednesday press release.

The capability is available in more than 24 local currencies around the world; users still pay the exchange rate, according to the release.

Veem, a rival cross-border B2B payments company targeting SMBs, this week announced a loyalty program giving users cash-back rewards for each transaction and for customer referrals.

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