Situation
A Hong Kong-based company selling online training packages globally (USD 20 million/year), with 90% of revenue collected by credit card in euros.
Industry
Online training / e-learning
Company size
Mid-size — USD 20 million annual revenue — Less than 10 staff
The company processed almost all its revenue through a Hong Kong gateway. But the Hong Kong gateway forced conversion of incoming EUR, USD & CHF to HKD for Hong Kong-registered entities, every EU, US & Swiss credit-card payment was hit with a forced conversion and an above-market fee — quietly costing the business over USD 100,000 a year.
The challenge was to eliminate more than USD 100,000 in annual FX costs without disrupting a business operating around the clock. With 90% of revenue collected by credit card, the existing gateway automatically converted EUR, USD and CHF payments into HKD under non-negotiable terms. Limited integration with the client’s ERP and accounting systems also created manual work and reporting errors.
Full automation between website, banking platform and accounting software
Forced EUR, USD and CHF-to-HKD conversions eliminated
European collections routed through a dedicated SEPA account structure
