Caxton

Caxton business review

Discover more about Caxton’s business payments platform.

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Caxton utilises technology and automation in order to help bring business payments, expenses and currency accounts under one umbrella. It strongly focuses on foreign exchange and caters for international payments, payroll processing and expenses.

What is Caxton business?

Caxton is a business platform which combines domestic and international payments, expense management, prepaid business cards and currency accounts all in one place. It has 4 main solutions: supplier payments, payroll processing, expenses and risk management.

It also has a dedicated API which enables businesses to connect their own applications to their Caxton account for a secure and single point of access for several payment solutions.

How does Caxton business work?

You can create a business account with Caxton and take advantage of the following solutions:

  • Payments. You can use Caxton to pay local and global suppliers, send and receive international payments and automate mass payments.
  • Payroll processing. Caxton automates all your payroll payments and allows you to send up to 1,000 single or multiple currency payments in one file.
  • Expense management. This comes with an app to upload and categorise digital receipts and multi-currency prepaid cards where you can approve expenses, automatically top up balances or block cards instantly.
  • Risk management strategy. This service enables you to work with an expert to review your future foreign currency exposure and create a strategy to minimise the risk of foreign exchange market volatility.

Is Caxton suitable for your business?

If your business regularly deals with foreign exchange and needs to make global payments, then Caxton’s range of solutions could be suitable.

You can send and receive over 28 currencies as well as make local and overseas payments. It also has a range of hedging products including forward contracts, spot contracts and market orders. These can help to lock in favourable exchange rates in order to mitigate the risk of foreign currency fluctuations.

Is Caxton business safe?

Caxton is fully regulated in the UK under the Financial Conduct Authority (FCA) and has an electronic money licence.

It has over 600,000 customers and processes 8.6 million transactions per year.

Finally, if any of its prepaid cards are lost or stolen, you can block them instantly from the app.

Our verdict: Is this platform worth it?

Caxton has always specialised in foreign exchange and multi-currency services. So if you are looking for a business payments platform that can help make international payments cheaper and easy, Caxton could be a good fit.

Caxton’s pricing depends on which prepaid card you opt for between its sterling and multi-currency cards. You can book a demo through the site to learn more about the solutions and presumably the cost. The main feature that stands out about Caxton is its customer support and hands-on care, which could be a real advantage if you are dealing with multimillion-pound transactions.

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