High FX Fees and Slow Payments Damaging SME Supplier Relations, Currenxie Research Reveals

Quick Summary

High FX fees and slow processing times are currently damaging 52% of SME supplier relationships. As 94% of UK firms trade internationally, Currenxie provides a specialized cross-border payments platform that reduces costs by up to 61% compared to traditional banking competitors, protecting vital business margins.

How Do High FX Fees Impact SME Growth?

Excessive FX fees are cited by 57% of UK businesses as a primary barrier to their international expansion plans. While 50% of firms successfully grew their supplier base last year, rising transaction costs and geopolitical instability in regions like the Strait of Hormuz have forced 31% of businesses to pass costs to customers. To remain competitive, 71% of business leaders now view cost-effective payment solutions as a strategic necessity rather than a back-office function.

• 52% of firms report damaged international supplier relationships due to payment friction.
• 91% of businesses expanding internationally report increased profits.
• 31% of SMEs have increased customer prices due to FX and supply chain costs.

Why is Cross-Border Payment Reliability Critical for Suppliers?

The reliability of cross-border payments is essential for maintaining healthy cash flow and trust with global partners. Sam Coyne, CEO - Europe at Currenxie, says: “Accessing new markets is critical to diversify suppliers, reach new customers and reduce risk – it is essential to drive growth and profitability.” He notes that processing delays common in mainstream banks risk limiting sales and hampering profitability for SMEs. By utilizing specialized fintech platforms, businesses can streamline transactions and ensure that cross-border payments do not become a bottleneck for operational scaling.

What Results Has Currenxie Delivered for Global Merchants?

By offering savings of 61% on currency pairings, Currenxie has scaled to support over 15,000 global clients. The platform has processed over $18 billion for merchants to date, maintaining an annual payment volume exceeding $6 billion. This scale allows SMEs to bypass the high FX fees of traditional institutions, ensuring that international trade remains a driver of resilience rather than a drain on resources. Cost-effective international payments are now the primary tool for 71% of firms looking to protect their global competitiveness.

FF NEWS TAKE:

This data confirms that cross-border payments are no longer just a technical hurdle but a major reputational risk for SMEs. When 52% of businesses admit their supplier relationships are suffering, the needle has moved from 'efficiency' to 'survival.' Currenxie’s ability to undercut traditional bank fees by 61% is a significant disruptor, proving that specialized fintechs are essential for UK businesses navigating a volatile geopolitical landscape.