SMBs Unaware Of FX Management Tools, Volopa Says

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A company no longer has to be a massive, multinational conglomerate to be exposed to foreign exchange fluctuation risks. Small businesses are going global, too, establishing partnerships and business relations with customers and suppliers overseas, as well as physically traveling across borders.

According to Jay Wissema, director of business development at cross-border payment solutions provider Volopa, recent events in the global markets have heightened awareness of the importance of foreign exchange volatility risk mitigation.

“There have been recent events that have escalated the importance of FX volatility and managing it, whether it’s trade disputes happening internationally at the moment, or Brexit,” he told PYMNTS in a recent interview.

A recent survey from American Express found that


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