ZilBank.com, a B2B payment platform, has recently announced its initiative that enables South Korean entrepreneurs and freelancers to conduct payments to the United States effortlessly, promoting worldwide business expansion without being limited by geographic barriers.
The platform has made it easier for South Korean businesses “to pay US vendors, affiliates, employees, and other partners regardless of location.”
The cloud banking platform reportedly “ensures efficient and affordable cross-border transactions, enabling South Korean entrepreneurs to conduct business easily and cost-effectively. This feature simplifies global transactions, removing the requirement for a physical presence and offering unmatched convenience to South Korean entrepreneurs in the USA.”
ZilBank.com simplifies creating multiple business accounts “for different purposes. It enables affordable money transfers via ACH, mailed checks, and wire transfers. Instant fund transfers between ZilBank.com accounts ensure smooth financial transactions.”
The platform provides virtual cards, international payments, bulk payments, the “get paid early” option, and more.
Zil Money Corporation, the parent company of ZilBank.com, ZilMoney.com, and OnlineCheckWriter.com, says that it “recognizes small businesses’ difficulties, like handling cash flow and ensuring timely employee payments. ZilBank.com simplifies payroll management, providing continuous fund access. With ongoing innovation, businesses can enhance cash flow, unlock their potential, and ease the burden for small business owners handling employee payments.”
ZilBank.com explains that it is dedicated to “innovating in financial technology and empowering businesses to succeed globally.”
This service is considered to be “a significant step in strengthening economic ties between South Korea and the United States.”
In other news from the region, it was recently reported that Nium, the firm enabling real-time global payments, and Jeonbuk Bank (JB Bank), a South Korean financial institution, have announced a partnership.
Together, they will offer the country’s first global remittance service “targeted at the 2.5 million non-Korean residents that live in South Korea.”
The service will provide affordable and reliable global payment solutions to this community, giving them “access to the financial tools they need to thrive in an increasingly interconnected world.”