Cross-border payments are a necessary, yet often frustrating part of the world economy, with international transactions prone to overlapping government regulations, excessive fees and slow processing times. These difficulties are due to a process called correspondent banking, in which transactions must also be funneled through...
The payments economy is continuously growing and becoming more digital. The global mobile payments market was valued at more than $3.7 trillion in 2019 and is expected to grow to $12.4 trillion by 2025 — an increase of more than 235 percent. Several factors have...
The COVID-19 pandemic has accelerated the need for financial institutions (FIs) to quickly scale and roll out faster payment experiences, whether that means offering businesses instant access to loans or enabling access to consumers' stimulus funds without any wait, says Bryce Elliott, chief information officer...
Instant payments are in higher demand than ever in 2020, with ACI Worldwide estimating that more than 500 billion real-time payments will be processed over the next five years. India currently leads in terms of transaction volume, processing 15.3 billion real-time payments in 2019 and...
October 28, 2020
Digital payments are growing ever more widespread, with the global digital payments market increasing by more than 50 percent in the past three years to hit $4.7 trillion in 2020. This growth is not expected to slow down anytime soon, with eCommerce and its associated digital payments expected to hit $4.5 trillion in transaction value […]
October 15, 2020
Cross-border payments are a necessary, yet often frustrating part of the world economy, with international transactions prone to overlapping government regulations, excessive fees and slow processing times. These difficulties are...
August 06, 2020
Payments are an omnipresent part of life for corporates and consumers alike, with the United States seeing 174.2 billion noncash payments totaling $97.04 trillion in 2018. Businesses’ and individuals’ transaction...
