International Payments focuses on developing financial international payment services and facilitating transactions through Floriday. We do this to facilitate international trade flows that are currently handled outside Royal FloraHolland. This is a precondition for making Floriday the number one international trading platform for the floriculture industry in the future.
Creating better payment options creates more purchasing power, because it enables more (international) parties to purchase from Royal FloraHolland. In addition, we can ensure a reduction in transaction costs, and currency costs of credit management.
During phase 1 of the programme, we will facilitate the International Tradelane between Kenya and Saudi Arabia in dollar-dollar transactions, through Floriday and on the basis of advance payments.
What have we already done?
We have a short list of 5 buyers from Saudi Arabia. Three of these buyers are currently registering with Royal FloraHolland.
The desired structure for the International cash management solution has been designed. Preparations are being made for the bank selection in July, in which we will enter into discussions with several banks.
There is clarity about the fiscal and legal preconditions that must be taken into account in the solution. A working group has been launched to shape the customer acceptance policy and the registration process to enable the registration of international customers.
The required IT changes have been determined, both in Floriday and in the financial systems.
What else are we going to do in Q2 and Q3?
Onboard the buyers and growers for phase 1. Develop the service. Local implementation.
Selection of the International Cash Management bank and implementation of the structure.
design and formalise customer acceptance policy. Design the registration process.
Realise and test the required IT adjustments
We are also working on the roadmap for the follow-up phases of International Payments, which focuses on roll-out to other tradelanes and the creation of commercial value.
If you would like to know more
Don’t hesitate to contact the Programme Manager:
Anneke van Beek