We outline the market outlook for cross-border payments and money transfer tech — from investment trends, to leading companies, to recommendations for players in the space.
What is cross-border payments & money transfer tech?
Cross-border payments and money transfer tech companies help businesses send funds to businesses in other countries. These companies are helping organizations eliminate the middlemen in cross-border transactions, which are often slower and costlier.
Cross-border payments companies are making money transfers cheaper and faster through a variety of tech solutions: 1. Cross-border payments infrastructure that doesn’t run on traditional bank networks; 2. Platforms that allow clients to easily access legacy bank rails; 3. Crypto-based cross-border payment solutions run by blockchain technology.
Features & capabilities
Cross-border payments and money transfer tech provide payment leaders with several capabilities and tools, including the following:
- The creation of end-to-end flows from and to a wide range of countries using a single application programming interface (API)
- The transfer of funds across accounts held by different financial institutions
- Payment acceptance from multiple buyers across the globe
- Simplified local and international payouts
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