In the corporate world, there are two types of deals, namely B2C and B2B.
A B2C transaction, or simply, a business to customer transaction is exactly what it seems. It is the transaction that takes place when a certain business deals with a particular person or a group of persons. These “dealings” can be anything from selling and item, or buying rights to a book, providing services or requesting services. Simply put, these are the types of transactions that are conventional and comprehensive. B2C transaction does not necessitate any 3rd party involvement, because the main objective of the business is to deal with customers.
A B2B transaction, or in other words, a business to business transaction is a term that is used to describe the dealing between a firm with another business in times of procurement. As in, consider a firm, “A”, that manufactures shoes, needs the raw material to build the shoes from. In such times, they contact a third party (referred to as third party because they are not one of the pillar of basic business transaction, i.e. Businesses and Customers). The other business (that works to collect leather), “B”, deals with “A” and supplies them the necessary materials. Of course, B2B transfer fee is involved.
Now these business might be far and wide throughout the world, so b2b transfer fees vary, hence the concept of monetary exchange plays its hand.
FX spread, or, “Foreign Exchange Spread”, is the difference between the prices a trader receives when he sells a currency to the market, with the price he has to pay to buy currency from the market. This spread, assists massively in determining the value of one currency in a country that it is not native to.
SEPA payments are a great way to settle B2B payments throughout Europe, since it is free. All it takes is the creation of a European account with B2B pay, this gives you the facility of sending euro payments in and out of Europe for not even a single dime.