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BlueSnap is the only Global Payment Orchestration Platform that simplifies payments, while helping you to reduce costs and increase sales. We improve the payment experience, reduce friction, increase your authorization rates and expand your global footprint. Even the way we architect the product reduces strain on your resources to increase ROI. We focus on ways to decrease the costs associated with payments – eliminating unnecessary cross-border fees, reducing FX expense, and more.
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The reason is clear from the market share numbers. In the 1999 Euromoney poll, almost 48 per cent of market share was held by banks outside the top ten; by the 2006 poll, that number had halved to about 24 per cent. These banks did not have a business large enough to justify spending the money needed to automate. In fact, the collective market share decline of smaller banks masked a shift in behaviour that was even worse news for the career prospects of the traders who worked in them. Increasingly, FX giants like Deutsche would give these banks access to systems like Autobahn or the equivalent. Their salespeople would simply quote the Deutsche Bank (or Citibank, UBS or Barclays) rate to their customers with a small spread to offset the credit risk. No need for expensive traders. In effect, the smaller banks had shifted from ‘manufacturing’ FX rates to being distributors to clients with whom they had a strong relationship based on regional expertise or history. ‘You guys just sucked us dry,’ complained an old friend and adversary at the time – he was in his late thirties, from a smaller bank, and we were at his ‘leaving-the-industry’ drinks. ‘But,’ he added resignedly, with a slightly drunken grin, ‘I guess that’s just that old whore Capitalism for you.’ He became a maths teacher.
Kevin Rodgers (Why Aren't They Shouting?: A Banker’s Tale of Change, Computers and Perpetual Crisis)
I once had a foreign exchange trader who worked for me who was an unabashed chartist. He truly believed that all the information you needed was reflected in the past history of a currency. Now it's true there can be less to consider in trading currencies than individual equities, since at least for developed country currencies it's typically not necessary to pore over their financial statements every quarter. And in my experience, currencies do exhibit sustainable trends more reliably than, say, bonds or commodities. Imbalances caused by, for example, interest rate differentials that favor one currency over another (by making it more profitable to invest in the higher-yielding one) can persist for years. Of course, another appeal of charting can be that it provides a convenient excuse to avoid having to analyze financial statements or other fundamental data. Technical analysts take their work seriously and apply themselves to it diligently, but it's also possible for a part-time technician to do his market analysis in ten minutes over coffee and a bagel. This can create the false illusion of being a very efficient worker. The FX trader I mentioned was quite happy to engage in an experiment whereby he did the trades recommended by our in-house market technician. Both shared the same commitment to charts as an under-appreciated path to market success, a belief clearly at odds with the in-house technician's avoidance of trading any actual positions so as to provide empirical proof of his insights with trading profits. When challenged, he invariably countered that managing trading positions would challenge his objectivity, as if holding a losing position would induce him to continue recommending it in spite of the chart's contrary insight. But then, why hold a losing position if it's not what the chart said? I always found debating such tortured logic a brief but entertaining use of time when lining up to get lunch in the trader's cafeteria. To the surprise of my FX trader if not to me, the technical analysis trading account was unprofitable. In explaining the result, my Kool-Aid drinking trader even accepted partial responsibility for at times misinterpreting the very information he was analyzing. It was along the lines of that he ought to have recognized the type of pattern that was evolving but stupidly interpreted the wrong shape. It was almost as if the results were not the result of the faulty religion but of the less than completely faithful practice of one of its adherents. So what use to a profit-oriented trading room is a fully committed chartist who can't be trusted even to follow the charts? At this stage I must confess that we had found ourselves in this position as a last-ditch effort on my part to salvage some profitability out of a trader I'd hired who had to this point been consistently losing money. His own market views expressed in the form of trading positions had been singularly unprofitable, so all that remained was to see how he did with somebody else's views. The experiment wasn't just intended to provide a “live ammunition” record of our in-house technician's market insights, it was my last best effort to prove that my recent hiring decision hadn't been a bad one. Sadly, his failure confirmed my earlier one and I had to fire him. All was not lost though, because he was able to transfer his unsuccessful experience as a proprietary trader into a new business advising clients on their hedge fund investments.
Simon A. Lack (Wall Street Potholes: Insights from Top Money Managers on Avoiding Dangerous Products)
Wise for Business in 2025 — How to Set Up, Verify, and Use Your Account Safely In 2025, cross-border payments and multi-currency banking continue to be essential for freelancers, startups, and small-to-medium businesses. Wise (formerly TransferWise) remains one of the most popular fintech solutions for low-fee international transfers, transparent exchange rates, and multi-currency accounts. This guide walks you through setting up a Wise business account, completing verification properly, staying compliant, and getting the most value from the platform — the right way. If you want to know more info, please contact us- WhatsApp: +1 (818) 539-7386 Telegram: @smmtopvcc Email: smmtopvcc@gmail.com Teams: smmtopvcc Why businesses choose Wise in 2025 Wise built its reputation on transparency: mid-market exchange rates, clear low fees, and fast transfers. For businesses, the value is: Lower FX costs: Access to mid-market rates with a small transparent fee helps margins on international sales or payroll. Multi-currency accounts: Hold and manage balances in dozens of currencies, get local bank details (USD, EUR, GBP, AUD, etc.) to receive payments like a local. Batch payments & APIs: Pay multiple suppliers or staff in one file, and integrate payments into your accounting or product using the Wise API. Speed & visibility: Faster transfers than many traditional banks and clear tracking for reconciliation. If you want to know more info, please contact us- WhatsApp: +1 (818) 539-7386 Telegram: @smmtopvcc Email: smmtopvcc@gmail.com Teams: smmtopvcc Step-by-step: opening a Wise business account (safe & legal) Plan what you need Decide which currencies you’ll hold and whether you need local bank details (e.g., US routing + account, UK sort code, EUR IBAN). Choose the account type: sole proprietor / individual business owner vs. company account. Create an account on Wise Visit the official Wise website or app. Select “Business” and enter your business email and password. Add basic company details (company name, registration number if any, business address). Prepare identity & company documents For individuals: government-issued photo ID (passport, national ID, or driver’s license) and proof of address (utility bill, bank statement). For companies: certificate of incorporation, company registration documents, beneficial owner details, and proof of business address. Keep digital scans clear and unedited — fuzzy or manipulated images delay verification. Complete verification through Wise Upload documents where requested and answer the verification questions honestly. Expect to verify beneficial owners if your business has multiple stakeholders. Common reasons for delays: mismatched names/addresses, expired IDs, or low-quality scans. Confirm business activity Be ready to explain typical transaction volumes, client locations, and the nature of goods/services. Provide invoices or contracts if requested to speed up review. Tips to speed up verification (legitimately) Use recent documents (proof of address within last 3 months is commonly required). Ensure your uploaded ID images are full-frame, well-lit, and unedited. Match business and owner names exactly across documents (no nicknames). If asked for additional evidence, respond quickly with clear PDFs or scans rather than photos of photos. Keep bookkeeping records handy (invoices, contracts, payment receipts) to demonstrate legitimate business activity. Compliance & security best practices Follow KYC and AML rules. Wise and other regulated fintechs must enforce Know Your Customer and Anti-Money Laundering checks. Provide requested documents; it keeps your account active and protects your business. If you want to know more info, please contact us- WhatsApp: +1 (818) 539-7386 Telegram: @smmtopvcc Email: smmtopvcc@gmail.com Teams: smmtopvcc
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