B2B payments are undergoing a vast digital transformation, with solutions providers stepping up to offer more speedy options as companies look to expand internationally. Nowhere is this change more apparent than cross-border payments, where a host of payment providers are offering new alternatives to the...
The World Bank projects that $572 billion will be sent from migrant workers to their families abroad in 2020. These payments affect the day-to-day lives of nearly one out of every three humans globally, as the world’s estimated 1 billion migrants each provide for other...
For UAE's 90 percent expatriate population, sending remittances back home often means paying exorbitant fees and dealing with glacial processing times. But use of local switches and remittance-as-a-service has a real potential in disrupting the old ways of remitting money, according Mashreq Bank’s Executive Vice...
Cross-border payments are expected to hit $39 trillion by 2022, with $572 million worth of payments consisting of remittances sent from migrant workers to their families abroad. These payments can be painstakingly difficult to process, however, with excessive fees and sluggish payment speeds that many...
FIs and enterprises are facing increased pressure to make cross-border payments fast and seamless as consumers grow used to such products in other sectors. The road to real-time cross-border payments is long and fraught with challenges, however. The following Deep Dive explores how cross-border payments...
Remittances had a record year in 2018 despite the frictions that still exist when senders move money cross-border to receivers in need. In the latest Smarter Payments Tracker, Khun Sarintorn, vice president of international remittance and business solution head for Thailand-based Kasikornbank, explains how FinTechs...
The cross-border payment market is thriving, and trends are expected to continue over the next few years. In fact, cross-border payments are expected to reach $240 billion in value by 2024. For these transactions to run smoothly, however, communication must remain seamless and secure. Companies...
The world is becoming more interconnected, boosting demand for fast and low-cost services that enable cross-border transactions. Such experiences require payments interoperability, which can be a significant challenge due to changing technologies and regulations. Many initiatives are currently underway around the globe to push such...
According to the latest Smarter Payments Tracker, global payment usage is at an all-time high. Revenues are forecast to hit $2 trillion by 2020, according to McKinsey. Currently, there are 0.7 international transactions per capita every year, up from 0.5 in 2014. So, why do...
