Archives: UniTeller blog

Accepting card payments is essential for any business that wants to grow. The challenge is choosing the right gateway credit card processing partner when every provider offers different fees, features, and promises.

The decision matters because it shapes your costs, protects your customers’ data, and determines how easily you can expand into new opportunities such as international remittances and digital remittances.

In this article, we will explain what to look for, from understanding the roles of gateways and processors to evaluating pricing, features, security, and contract terms. With this knowledge, you can choose a partner that fits your needs today and grows with you tomorrow.

The Roles of a Payment Gateway and Processor

Every card transaction relies on two partners working together: the gateway and the processor. Understanding their roles helps you see where each fits into the payment process and why both are essential.

What Is a Payment Gateway?

A payment gateway is the secure technology that captures a customer’s card details at checkout and encrypts them for safe transfer. You can picture it as the digital cash register: it takes the payment information, locks it up for security, and passes it along to the next step. Beyond this, gateways often support fraud screening, recurring billing, and smooth checkout experiences that keep customers coming back.

What Is a Payment Processor?

A payment processor takes the encrypted data from the gateway and communicates with the card networks and banks. You can think of it as the bank teller: it verifies the customer’s account, confirms the funds are available, and completes the transfer into your merchant account. In other words, the processor makes sure the payment journey is completed safely and reliably so you get paid.

Payment Processing Solutions

When you shop for gateway credit card processing, you will find two main options: getting a gateway and processor from separate providers, or using a bundled service that combines both. For many small and medium-sized businesses, bundled solutions are easier to manage and often more cost-effective.

All-in-one providers, sometimes called payment aggregators, allow you to accept cards quickly without setting up a dedicated merchant account. They handle both the digital cash register and the bank teller roles under one roof. Services like Square and PayPal are well-known examples. This setup is popular with businesses that want a fast start and predictable fees.

Working with separate gateway and processor providers can offer more customization, but it may also create extra contracts, fees, and integration challenges. For most SMBs, simplicity and support matter more, which is why bundled solutions are often the better fit.

Analyze Pricing Models and Fees

The headline rate a provider advertises rarely tells the full story. To make the best choice, you need to understand how gateway credit card processing fees are structured and what extra charges might apply.

Common pricing models

• Flat rate: One percentage plus a fixed fee per transaction, such as 2.9% + 30¢. Simple to forecast, often used by services like PayPal.
  
• Tiered: Transactions are placed in “qualified,” “mid-qualified,” or “non-qualified” categories with different rates. Easy to understand on paper but can be more expensive in practice.
  
• Interchange-plus: Interchange and card-brand fees, plus a transparent markup from the provider. Offers the clearest breakdown, often better for growing businesses with higher volume.
  

Other fees to check

• Monthly or gateway access fees
  
• Setup and cancellation fees
  
• Chargeback or retrieval fees
  
• Cross-border and currency conversion fees
  
• PCI compliance or non-compliance penalties
  

Before signing, review both the pricing schedule and the fine print. A quick calculation based on your average sales and seasonal peaks will show which option truly fits your budget and growth plans.

Assess Features and Integrations

Choosing a gateway credit card processing partner involves more than just fees. The right provider should also offer tools and integrations that match the way you do business.

For online sellers, features like secure checkout pages, tokenization, subscription billing, and fraud prevention tools make transactions smoother and safer. Brick-and-mortar shops may prioritize reliable point-of-sale integrations, card-present rates, and hardware support. 

No matter your setup, it is important that the gateway connects easily with your accounting software, ERP system, or e-commerce platform so you do not waste time reconciling payments manually. Developer resources also matter. A provider with clear APIs and strong documentation reduces friction for your technical team and ensures your payment system can evolve with your business. 

Here’s the draft for the next section, staying aligned with the brief, keywords, and external link guidance:

Consider Security and Contracts

Security should always come first when selecting a gateway credit card processing provider. Every company you consider must comply with the Payment Card Industry Data Security Standard (PCI DSS), which sets the global rules for protecting cardholder data. Working with a PCI-compliant partner reduces your risk of fraud and shields your business from costly fines. 

Look for advanced protections such as tokenization and end-to-end encryption. These tools safeguard customer details during every transaction and build trust, especially if your business also handles international remittances or digital remittances. Strong fraud prevention measures like multi-factor authentication or 3D Secure can add another layer of defense.

Contract terms are just as important as technical safeguards. Pay attention to the length of agreements, early termination clauses, and any auto-renewal conditions. Flexible terms give you room to grow, while hidden fees can lock you into an arrangement that costs more than you planned. Choosing a provider that balances fair contracts with strong security helps you protect both your customers and your business.

Choosing a Gateway Partner That Scales With You

The decision to choose a gateway credit card processing partner is about more than handling transactions. The right provider helps you reduce costs, protect sensitive data, and build the trust that keeps customers returning. When features, pricing, and security all align, your business is better positioned to grow steadily and explore opportunities like international remittances and digital remittances.

Take time to compare providers carefully, read the fine print, and verify compliance with industry standards. A thoughtful choice today creates fewer headaches tomorrow and gives you a payment system that grows alongside your business.

If you are ready to expand with confidence, explore enterprise-grade solutions at Uniteller.com or SMB-friendly options at uLinkBusiness.com.

Running a small or mid-sized business today often means working with international partners, suppliers, or contractors.

Whether you are sourcing raw materials, paying overseas staff, or settling invoices with global vendors, international B2B payments are now part of everyday operations for growing companies.

Yet, many SMBs unknowingly spend more than they should on B2B payments. Hidden exchange rate markups, layered fees, and outdated systems quietly eat into margins and reduce cash flow flexibility. Over time, these unnecessary costs can make B2B money transfers far more expensive than they need to be.

However, with the right approach, international remittances and other cross-border transactions don’t have to drain your budget.

In this article, we’ll look at five common ways SMBs overpay on digital remittances and international transfers, and how better solutions can protect your bottom line.

1. Overpaying on Foreign Exchange Rates

One of the most common and least visible costs for SMBs using international b2b payments comes from hidden exchange rate markups.

Traditional banks and some legacy providers tend to offer less favorable conversion rates, keeping the difference between the mid-market rate and the rate you receive as a built-in profit.

Industry data shows these markups can range significantly:

• Specialized fintech platforms often offer rates within 0.5% to 2% above the interbank or mid-market rate, compared to traditional banks that may apply markups of 3% to 5% or higher. These fintech providers also tend to be more transparent about their pricing.
• In some cases involving automated FX setups, banks may impose markups of 2% to 5% or more. Automated FX setups are default currency conversion arrangements that process foreign payments without negotiation, often applying higher rates than businesses realize.
• A deeper dive by research firm Redbridge found that SMBs often pay fees up to ten times higher than larger corporate clients, with some “automated transactions” carrying markups as high as 220 basis points (that is, 22%) in extreme cases.

To put this in perspective, consider a small business sending $50,000 each month to an overseas vendor:

• With a 1% markup, you lose $500 per transfer, or $6,000 annually.
• A 3% markup increases that monthly loss to $1,500, totaling $18,000 a year.
• If your provider applies even higher automated markups, the annual cost can escalate dramatically.

This makes it critical to look beyond the headline fee and assess the total cost of each B2B money transfer, including how close the provider’s rate is to the true mid-market rate.

When SMBs use transparent platforms that clearly show the mid-market exchange rate and apply a modest, explicit differential, they can dramatically reduce these hidden costs, keep more revenue in the business, and improve cash-flow predictability.

2. Wasting Money on Unnecessary Fees

Beyond exchange rate markups, SMBs often overpay on international B2B payments because of layered fees that add little value.

Traditional banking channels, in particular, are notorious for charging multiple parties along the transfer chain. These costs may not be obvious upfront, but they can significantly increase the total expense of sending money overseas.

Wire Transfer Fees

Most banks charge a flat fee for international wire transfers.

In the U.S., the average outgoing international wire costs around $45, while incoming wires average $15 per transaction. For SMBs making frequent supplier or contractor payments, these fees can compound quickly. Ten international payments a month could mean an extra $450 in fees.

Intermediary Bank Fees

When a transfer moves through the SWIFT network, correspondent or intermediary banks often handle the transaction.

Each bank in the chain may deduct its own service fee, sometimes ranging from $15 to $30 per bank. Since SMBs rarely know how many intermediaries will be involved, the final cost can be unpredictable and higher than expected.

Receiving Fees

The recipient’s bank may also deduct a fee simply for receiving an international payment.

Depending on the bank and country, these charges can range from $10 to $20 or more per transaction. For SMBs managing global payroll or supplier invoices, these hidden receiving costs further erode the value of each transfer.

Together, wire transfer charges, intermediary deductions, and recipient fees create a layered system that drains SMB budgets.

Worse still, these charges are often non-transparent until the transaction is complete. Modern providers of B2B money transfers and digital remittances reduce or eliminate many of these costs, allowing SMBs to pay partners abroad without unnecessary financial waste.

3. Relying on Inefficient Payment Methods

Another way SMBs overspend on international B2B payments is by sticking with outdated or ill-suited methods. While these options may feel familiar, they are often slow, unpredictable, and expensive compared to modern alternatives.

Traditional wire transfers are a prime example.

They can take several business days to settle, especially if routed through multiple banks, and often come with high and opaque fees. For SMBs working with international suppliers or contractors, these delays and costs disrupt cash flow and strain vendor relationships.

Credit cards are another common but costly choice for B2B payments.

While convenient, credit cards carry processing fees that typically range from 1.5% to 3.5% per transaction. For large invoices, that percentage translates into hundreds or thousands of dollars in avoidable fees. In addition, credit card networks are not designed for recurring cross-border settlements, creating inefficiencies when managing regular supplier payments.

Peer-to-peer consumer apps also present challenges. They may offer fast transfers but often have strict transaction limits, lack the reporting tools SMBs need for reconciliation, and expose businesses to potential security risks. They are designed for personal use, not for the complexity of B2B money transfers.

Inefficient payment methods ultimately cost more than they appear to on the surface. 

Modern providers of digital remittances and international business payment solutions give SMBs faster processing, lower fees, and stronger security. By moving away from outdated systems, businesses can streamline operations and retain more value in every cross-border transaction.

4. Overlooking Centralized Solutions

Many SMBs still rely on manual or fragmented processes to manage international B2B payments, which creates inefficiencies that translate directly into higher costs.

Handling payments through spreadsheets, paper forms, or multiple providers often leads to errors, delays, and missed opportunities to optimize cash flow.

Manual processes also create weak audit trails. Without a centralized system, it becomes difficult to track where money is, how much has been paid in fees, and whether transfers are delayed.

For SMBs managing multiple international vendors, this lack of visibility not only wastes time but also increases the risk of compliance issues and strained supplier relationships.

A centralized payment platform solves these challenges by consolidating all global transactions into one system. Businesses gain full visibility into exchange rates, transaction timelines, and associated costs.

This makes reconciliation easier, reduces the likelihood of error, and improves overall financial control. According to industry experts, centralizing cross-border payments can reduce administrative overhead while increasing transparency and speed.

For SMBs, adopting a centralized solution for B2B money transfers and digital remittances can mean more than efficiency. It helps build trust with global partners, strengthens financial planning, and protects margins that are often tighter than those of large enterprises. By modernizing processes, SMBs not only save money but also position themselves to scale internationally with confidence.

5. Underestimating the Cost of Transfer Speed

For SMBs, time is just as critical as money when it comes to international B2B payments.

Delays in sending or receiving funds can create ripple effects across the entire supply chain. Late supplier payments may halt production, trigger penalties, or even erode trust with long-term partners.

Slow payment processing also creates opportunity costs.

If an international invoice takes a week to clear through a traditional wire transfer, that is cash that cannot be reinvested in inventory, payroll, or business growth. For smaller companies where working capital is often tight, those lost days can translate into missed sales and constrained operations.

According to a survey on cross-border payment challenges, 44% of finance professionals said delays in settlement times were a top pain point. Inconsistent settlement windows, sometimes ranging from two to five business days depending on the banking route, only make planning harder.

Modern providers of B2B money transfers and digital remittances are addressing this issue with faster, more predictable delivery times.

Some platforms now settle international transactions in as little as one business day, giving SMBs more control over their cash flow. Choosing a faster and more reliable provider not only saves direct costs but also preserves relationships with global partners and strengthens a company’s ability to grow.

With UniTeller Stop Overspending on Global Payments

SMBs are the backbone of international commerce, yet too many lose money through hidden markups, layered fees, outdated systems, and delays in their international b2b payments.

Each of these inefficiencies chips away at margins and slows down growth, making it harder to compete on a global scale.

The good news is that smarter solutions already exist.

By seeking out transparent exchange rates, avoiding unnecessary fees, centralizing processes, and choosing faster settlement options, SMBs can regain control over their B2B money transfers and protect valuable working capital.

At UniTeller, we understand that every dollar and every day counts for small and mid-sized businesses. Our suite of solutions is designed to reduce costs, increase transparency, and give you the speed and reliability you need to strengthen global partnerships.

Explore how UniTeller can help your business save on cross-border payments or learn more about digital solutions tailored to SMBs.

Digital remittances to Asia represent one of the world’s most significant cross-border payment flows, with billions of dollars transferred annually to support families and drive economic growth across the continent.

This article builds upon UniTeller’s comprehensive report on remittances to Asia, and complements our previous analysis of the report. 

While our earlier piece examined the receiver’s perspective across four key Asian markets, this analysis focuses on the critical other side of the equation: the individuals and institutions who send these essential transfers to India, Indonesia, the Philippines, and Vietnam.

Understanding these senders, including their motivations, challenges, and preferences, is crucial for money transfer operators, corporate partners, and financial institutions seeking to optimize their cross-border payments infrastructure.

This article examines who sends money to Asia, why they do it, and how the evolving landscape of digital remittance services is reshaping this vital economic ecosystem.

The Global Network Behind Asian Digital Remittances

Asian immigrants represent some of the world’s most mobile and economically active populations, creating robust remittance corridors that span multiple continents. 

According to World Bank data, East Asia and the Pacific received an estimated $190 billion in remittances during 2023, while South Asia received approximately $189 billion.

The geographic distribution of Asian diaspora communities directly correlates with major remittance-sending regions.

High-skilled professionals from countries like India, China, and the Philippines have established significant communities in developed economies, particularly the United States, the United Kingdom, and the Gulf Cooperation Council (GCC) countries. 

These migrants often earn substantially higher wages than available in their home countries, creating both the capacity and motivation to send regular transfers.

Gulf countries serve as the primary source for remittances to South and Southeast Asia, with millions of workers from India, Pakistan, Bangladesh, and the Philippines employed in construction, hospitality, and service sectors. 

According to UniTeller’s research, 29% of senders report making lifestyle sacrifices to send money home, representing substantial flows that support entire family networks despite the financial burden on senders.

The United States and the United Kingdom host large populations of highly skilled Asian immigrants working in technology, healthcare, and finance sectors. These professionals often maintain strong family connections and cultural obligations that drive consistent remittance behavior over extended periods.

Additionally, intra-Asian migration creates significant remittance flows, with workers moving from lower-income countries to regional economic hubs like Singapore, Hong Kong, and Malaysia. This includes substantial numbers of domestic workers, construction personnel, and service industry employees who support families across Southeast Asia.

Remittance trends indicate that Asian senders increasingly prefer digital channels that offer speed, transparency, and competitive exchange rates. These are all factors that directly influence their choice of service providers and financial institutions.

Understanding Remittances Senders: Motivations and Sacrifices

Is it relevant to analyze and understand sender profiles?

Absolutely. Knowing what and how they transfer money is essential for financial institutions and money transfer operators who want to optimize their service offerings and capture market share.

Relationship With Receivers

UniTeller’s research reveals that family relationships drive the overwhelming majority of remittance transactions to Asia.

These strong family connections translate into predictable sending patterns.

According to the report, spouse-to-spouse transfers represent 21% of all remittances, while parent-to-child transfers account for 19%. And these senders across Hong Kong, Singapore, and the United States make an average of 1.6 remittance payments per month.

The data shows that spousal digital remittances represent substantial portions of senders’ income, averaging 15% of annual wages across all markets. In Hong Kong specifically, senders remit almost a fifth (19%) of their annual wage back home, representing the highest proportion among the three origination markets studied.

For money transfer operators, these relationship patterns provide valuable insights for developing targeted products and services.

Family Responsibility

Beyond financial calculations, emotional and cultural obligations significantly influence remittance behavior among Asian diaspora communities.

Traditional family structures often designate eldest children or primary earners as responsible for supporting parents, siblings, and extended family members.

Research indicates that these responsibilities extend beyond immediate financial needs.

Senders frequently fund education expenses for younger siblings, medical treatments for elderly relatives, and major family events like weddings or religious ceremonies.

The psychological burden of migration creates additional pressure to maintain family connections through regular financial support.

UniTeller’s findings reveal that many senders feel responsible for family members’ financial security and future opportunities. This responsibility often continues for decades, with some migrants sending money for 10-20 years or more.

The emotional weight of these obligations influences senders’ financial decisions, often prioritizing family support over personal savings or investments in their host countries.

Geographic separation intensifies these feelings of responsibility.

UniTeller’s data shows that senders return home on average only once every 26 months, with those in Hong Kong facing the longest separations at 24 months between visits. This extended physical absence creates additional emotional pressure, as 32% of senders across all markets are expected to reside away from their home countries permanently.

And despite 96% of receivers believing their senders are happy in their chosen destinations, the emotional cost of family separation drives increased remittance behavior as senders attempt to compensate for their physical absence through financial support.

Understanding these emotional drivers helps financial institutions develop more empathetic customer service approaches, as well as products that help maintain family connections, such as bill payment services or educational funding programs.

Financial Burden

While most senders (67%) have more than enough money to live comfortably after sending remittances, nearly one-third face significant financial pressures that directly impact their quality of life abroad.

UniTeller’s research reveals that 29% of senders must make lifestyle sacrifices to maintain their remittance commitments.

This burden varies by location, with Hong Kong showing the highest rate at 32%, followed by the United States at 28%, and Singapore at 26%. Only 2% of senders across all markets report finding it difficult and often running out of money after sending transfers.

The emotional toll extends beyond personal finances. The expectation of regular remittance payments can be overwhelming, with 33% of senders reporting that these expectations place emotional stress on their families.

The impact on sender-receiver relationships is particularly pronounced in Hong Kong, where 38% of senders feel that remittance obligations negatively affect their relationships with recipients.

Despite these financial and emotional pressures, 75% of senders indicate they would still choose to live abroad even if they didn’t need the money, suggesting that career opportunities and improved living standards outweigh the sacrifices required to support families back home.

For money transfer operators and financial institutions, addressing these burden points represents both a competitive opportunity and a service imperative. Providers offering transparent fee structures, competitive exchange rates, and flexible payment options can help alleviate financial stress while building stronger customer relationships with this committed but financially strained customer segment.

The Future of Remittances: Asia and Beyond

The evolution of digital remittances and cross-border payment systems presents significant opportunities to address longstanding challenges, while creating more inclusive financial ecosystems for Asian communities worldwide.

Financial literacy gaps represent one of the most pressing challenges in the remittance ecosystem. 

UniTeller’s research reveals substantial knowledge disparities between senders and receivers regarding transaction costs. Nearly one-third of receivers (29%) in Indonesia are unaware of the exact transaction fees, followed closely by Vietnam at 27%. 

This lack of awareness extends across all markets, with at least half of the receivers believing that fees only comprise 2-5% of total remittance amounts, underestimating the true costs highlighted by World Bank data, which show average fees of 5.8% for East Asia.

These knowledge gaps contribute to continued reliance on expensive, traditional transfer methods and limit both senders’ and receivers’ ability to make informed financial decisions.

Without proper financial literacy in Asia, families struggle to maximize the transformative potential of remittances for long-term wealth building.

UniTeller remains committed to addressing these challenges through transparent pricing and educational initiatives. Our focus on providing competitive exchange rates and clear fee structures helps bridge the information gap that has historically disadvantaged remittance users. 

In this regard, the G20 Cross-Border Payments Roadmap provides a crucial framework for industry-wide improvements through enhanced transparency, reduced costs, and increased speed. 

The roadmap’s emphasis on reducing remittance fees to less than 3% by 2030 aligns with our mission to provide better, more cost-effective solutions for all users.

Technological advancement continues to reshape the remittance landscape. The shift toward digital platforms becomes increasingly critical, especially as traditional, physical money transfer methods prove inadequate during crises like the coronavirus outbreak. 

Mobile-first solutions, enhanced security measures, and streamlined user experiences are improving access while reducing operational costs—innovations that particularly benefit Asian markets where mobile adoption rates continue to grow.

Providers who prioritize transparency, invest in financial literacy programs, and leverage new technologies will be best positioned to serve this vital customer segment while contributing to broader financial inclusion goals.

Empower Asian Remittance Networks With UniTeller

Digital remittances to Asia represent far more than simple financial transactions—they embody family connections, cultural obligations, and economic opportunities that span continents and generations.

Understanding the sender’s perspective reveals the complex motivations, challenges, and financial sacrifices that drive billions of dollars in annual transfers to Asian families. 

The future of Asian remittance markets lies in combining technological innovation with a deep understanding of sender and receiver needs. 

As remittance trends continue evolving toward digital-first solutions, UniTeller remains committed to supporting financial institutions and money transfer operators with the technology and expertise needed to serve Asian remittance markets effectively.

Our comprehensive payment processing solutions enable partners to offer reliable, cost-effective services that benefit both senders and receivers.

Discover how UniTeller can enhance your cross-border payment capabilities and help you capture opportunities in growing Asian remittance markets.

For businesses seeking comprehensive remittance solutions, explore uLink Business to access our full suite of digital payment services designed for modern financial institutions.

Digital remittances have become essential for millions of Asian families who rely on money from relatives working abroad.

Countries like India, China, and the Philippines rank among the world’s top remittance recipients—their economies are deeply impacted by these transfers.

This article showcases UniTeller’s report, Both Sides of the Coin: The Receiver’s Story, which surveyed nearly 2,000 recipients across four Asian markets.

We’ll examine how remittances transform lives in India, Indonesia, the Philippines, and Vietnam, while addressing critical challenges around financial literacy and over-reliance that reveal gaps in global financial inclusion.

As mobile technologies reshape cross-border payments, understanding the receiver’s perspective becomes crucial for creating sustainable financial ecosystems.

At UniTeller, we’re committed to more than just moving money: We’re dedicated to improving remittance experiences and expanding financial opportunities for everyone involved in this vital economic network.

The Scale of Remittance Recipients in Asia

Asia dominates the global remittance landscape, with recent 2024 data showing India leading as the world’s largest recipient with an estimated $129 billion in annual inflows, followed by China at $48 billion, and the Philippines at $40 billion.

This massive flow of funds reflects an equally impressive diaspora: India has the world’s largest diaspora, numbering approximately 35.42 million people as of 2024, consisting of 15.85 million non-resident Indians (NRIs) and 19.57 million people of Indian origin (PIOs).

The Philippines demonstrates the strong correlation between overseas populations and remittance volumes, with 2.16 million overseas Filipino workers (OFWs) as of 2023 supporting the country’s position as a top recipient.

Meanwhile, approximately 23.6 million migrants from South-Eastern Asia work globally, with the majority remaining within the continent.

These numbers reveal that digital remittances aren’t an exception in Asia—they’re an economic engine. Remittances have evolved from supplementary income to essential financial infrastructure for millions of households.

How Remittances in Asia Are Used

According to the findings in our report, remittances unequivocally transform lives across Asia, with over three-quarters (77%) of recipients saying the money enables them to meet costs they may not otherwise be able to pay, while 82% report that remittances significantly improve their quality of life. This financial lifeline provides crucial support that extends far beyond basic survival.

The allocation of these funds reveals both opportunities and concerns. Nearly half of remittance money goes toward essential needs: 23% for day-to-day family expenses and 25% for bills and loan payments. Education receives 11% of funds, while medical needs account for 10%. An important finding is that recipients maintain strong control over fund allocation, with 93% having full decision-making power over how remittances are spent. This autonomy represents a crucial opportunity for positive change, as 68% of recipients express strong interest in learning and cultivating good financial habits.

Yet, concerning patterns emerge around financial management.

Nearly half (48%) of recipients regularly run out of remittance money, with many reaching out to senders for additional support when funds are exhausted.

Despite remittances significantly improving lives, recipients allocate relatively high amounts—ranging from 12% in India to 7% in the Philippines—to non-essential luxury items rather than long-term financial planning.

Conversely, only 14% is allocated to savings, highlighting a significant gap in financial literacy in Asia.

This pattern suggests that while remittances provide immediate relief and improved living standards, there’s an urgent need for better financial education to help recipients leverage these funds for sustainable wealth building and reduced dependency.

Challenges and Opportunities in Remittance Management

While remittances provide undeniable benefits across Asia, usage patterns reveal deeper issues around financial literacy and planning. The fact that recipients consistently exhaust funds and allocate limited amounts to savings highlights systemic challenges that also present significant opportunities for change.

With recipients expressing strong interest in developing better financial habits while maintaining control over fund allocation, there’s a clear pathway to empower communities with the knowledge and tools for sustainable financial growth.

Addressing these challenges requires collaboration between remittance providers, governments, and educational institutions to create ecosystems that foster financial literacy in Asia and build pathways to economic independence.

A Lack of Financial Literacy

The limited allocation toward savings among remittance recipients reflects a broader financial literacy gap across Asia.

Just 30% of people in most countries in Southeast Asia are financially literate, one of the lowest financial literacy percentages worldwide. As a reference, the top countries boast over 70% financial literacy.

The consequences extend beyond individual households.

Poor financial management creates an overreliance on senders, with recipients frequently reaching out for additional support when funds are exhausted. This cycle perpetuates dependency, rather than building sustainable financial independence, limiting the transformative potential of digital remittances.

Despite the global explosion of fintechs designed to make finance more accessible, digital financial literacy has not kept pace, particularly affecting Southeast Asia’s 265 million unbanked adults.

Without proper financial literacy, recipients struggle to leverage remittances as stepping stones toward economic empowerment, instead treating them merely as supplementary income for immediate consumption, rather than tools for wealth building and future security.

Empowering Receivers Through Education

Financial education represents the most promising pathway to transform remittances from temporary relief into sustainable wealth-building tools.

By equipping receivers with knowledge about budgeting, saving, and investing, comprehensive programs can break the cycle of dependency and enable families to maximize the long-term impact of digital remittances.

As one expert notes, “there’s a pressing need to equip individuals with the knowledge and tools necessary to make informed financial decisions,” given the current patterns of sporadic investing and limited savings across the region.

Education should emphasize “responsible remittances” by encouraging both senders and receivers to view transfers as opportunities for economic advancement, rather than simple income replacement.

Financial education can help make emerging digital financial services more accessible by reducing confusion, increasing confidence, and empowering individuals to make more informed decisions.

This approach transforms remittance recipients from passive beneficiaries into active participants in their financial futures, creating sustainable pathways out of poverty and building generational wealth.

Government and Institutional Initiatives

Recognizing the critical need for improved financial literacy, governments and international organizations across Asia have launched targeted initiatives to educate remittance recipients. 

Key programs include:

• Asian Development Bank: Technical assistance programs generating policy-relevant knowledge on remittances and financial literacy in Asia, supporting technology-assisted education for migrants and families.
• Cambodia: Policy on Labour Migration explicitly includes migrants’ financial literacy understanding as a key objective.
• Vietnam: Mandatory pre-departure training with opportunities to integrate digital financial literacy education.
• Philippines: Bangko Sentral ng Pilipinas recalibrated its National Strategy for Financial Inclusion with updated priority activities and targets
• Indonesia: National Strategy on Financial Literacy for 2021-2025, encouraging collaboration between fintech companies, educational institutions, and government agencies.

These initiatives emphasize that financial literacy programs should address not just “how to remit” but also “how to save and invest,” creating comprehensive frameworks for empowering remittance recipients with the knowledge needed to transform their financial futures.

The Digital Transformation of Remittances

The adoption of digital remittances in Asia faces a fundamental challenge: While technology infrastructure exists, cash preferences persist.

We found that, despite governments pushing toward cashless economies, recipients show strong comfort with physical money, with 55% in India and 35% in the Philippines preferring excess cash over bank deposits.

Yet the foundation for transformation is already established. Our report also shows that mobile wallet ownership rates are remarkably high: 97% in India, 92% in both Indonesia and Vietnam, and 78% in the Philippines. This creates unprecedented opportunities to connect unbanked communities to formal financial services.

The growing mobile adoption in cross-border payments demonstrates significant potential. 

Digital remittances offer faster processing, enhanced security, and lower costs compared to traditional methods. Despite security concerns, with 77% in Indonesia citing fears about digital interfaces, attitudes remain overwhelmingly positive, with 96% across markets willing to use mobile apps for transfers.

As these technologies mature and user education improves, cross-border payments are positioned to become more convenient, accessible, and cost-effective for millions of families across Asia.

Creating Lasting Change Through Responsible Remittances

Digital remittances have evolved into a vital economic lifeline supporting 320 million people across Asia, transforming supplementary income into essential financial infrastructure.

While these transfers significantly improve lives and provide crucial support for daily needs, the patterns of usage reveal urgent opportunities for positive change.

The path forward lies in responsible remittances—combining convenient digital transfer technologies with comprehensive financial education. By empowering recipients with financial literacy skills and leveraging growing mobile wallet adoption, the industry can help families transition from dependency to sustainable wealth building.

UniTeller remains committed to more than just moving money across borders.

We’re dedicated to helping develop ecosystems that foster financial inclusion, support economic independence, and unlock the full transformative potential of remittances for millions of families throughout Asia.Learn how UniTeller can help your business grow with the help of international remittances.

Global remittances have become crucial financial lifelines connecting economies around the world. These transnational payments form strong economic links between developed nations and emerging markets and developing economies, facilitating the flow of capital across country boundaries. 

Remittances are not simply private transactions between family or close friends. They’re an important contributor to economic growth and stability in many developing countries around the world. Remittances also provide direct access to the economic benefits generated in developed countries, creating pathways for sustainable development and poverty reduction in regions that need it most.

But, as we will illustrate here, these financial flows are playing a much larger and deeper role than just affecting individual households. They’re also determining whole economies of countries and regions.

What Are EMDEs?

Emerging markets and developing economies (EMDEs) represent nations in transitional phases of economic development. There’s an important distinction between the two main categories within EMDEs:

• Emerging markets are countries experiencing rapid industrialization and growth but haven’t yet reached advanced economy status. These nations typically have developing financial markets, increasing per capita income, and growing integration with global markets.
  
• Developing economies are at earlier stages of industrialization, often characterized by lower income levels, less diversified economic structures, and financial systems still in formative stages.

Key characteristics that define EMDEs include:

• Lower per capita income compared to developed economies.
• Higher growth potential than mature economies.
• Developing financial sectors with evolving regulatory frameworks.
• Increasing integration with global markets.
• Notable demographic advantages, such as younger populations.
• Higher risk factors, including political instability and regulatory uncertainty.

EMDEs have become an essential tool for international investors looking for growth opportunities in countries with known economic challenges, making information about their financial opportunities valuable for everyone.

Today, these economies are among the most dynamic markets in the world and are important engines of growth for the global economy.

EMDEs by the Numbers

Emerging markets and developing economies represent a significant portion of the global population and economic landscape. These nations span multiple continents and vary widely in their stages of development, from rapidly industrializing powerhouses to economies taking their first steps toward modernization.

Some prominent examples of EMDEs include:

• Brazil, Russia, India, China, and South Africa (collectively known as BRICS).
• Mexico, Indonesia, Nigeria, and Turkey (sometimes called MINT economies).
• Vietnam, Philippines, Bangladesh, and Kenya.
• Egypt, Pakistan, Colombia, and Peru.

EMDEs have become increasingly influential in the global economy:

• EMDEs are home to approximately 86% of the world’s population, which highlights their demographic significance.
• The performance of emerging market members of the Group of Twenty (G20) accounted for almost two-thirds of global growth in 2021.
• By 2035, emerging markets are projected to contribute about 65% of global economic growth, with an average GDP growth rate of 4.06% through 2035, compared to just 1.59% in advanced economies.

The collective economic significance of these nations continues to grow, making them attractive destinations for international investment and highlighting their importance as engines of global economic expansion. 

What’s particularly noteworthy is how cross-border payments and financial connections between developed and developing economies have accelerated this growth trajectory, with remittances playing an especially critical role in this development story.

The Impact of International Remittances on EMDEs

Remittances have evolved into a critical economic lifeline for many emerging markets and developing economies. These cross-border financial flows represent much more than simple money transfers—they’ve become fundamental pillars supporting economic growth and stability across the developing world.

Recent data illustrate the profound impact of these financial flows:

• In 2024, India received an unprecedented 14.3% of global remittances, setting a historical record and strengthening its position as the world’s top remittance recipient.
  
• According to recent economic projections, Kenya is expected to outpace global GDP growth averages in 2025, with remittances playing a significant role in this economic expansion.

The significance of these financial flows becomes even more apparent when examining their proportion relative to national economies.

In many EMDEs, remittances represent between 5-35% of GDP, often exceeding foreign direct investment and official development assistance combined. This substantial economic input creates resilience during downturns and provides consistent capital inflows that support broader economic development.

As highlighted in the International Organization for Migration’s World Migration Report, these transfers create crucial economic bridges between diaspora communities and their home countries.

The volume of digital cross-border payments continues to grow annually, with global remittance flows reaching approximately $650 billion in 2024—a figure that demonstrates the essential role these transfers play in the global economic ecosystem.

Perhaps most interesting is how remittance patterns have shifted as economies have changed. Remittance senders in developed economies have a tendency to work harder during periods of downturn to maintain, or even increase, their support to family members in their home countries, which provides evidence of the extraordinary resilience of remittance flows even in rough economic times.

Benefits of Global Remittances in EMDEs

Remittances deliver multiple tangible benefits to emerging markets and developing economies through several key channels.

Household Income and Consumption

Remittances directly increase recipient household purchasing power, enabling better access to food, healthcare, and education. These transfers often represent a significant portion of family income.

Local Economic Impact

The benefits extend beyond individual households to strengthen local economies:

• Increased spending stimulates local businesses.
• Higher consumption generates additional tax revenue.
• Regular transfers promote financial inclusion and banking services.
• Remittance recipients frequently invest in small business development.

These economic ripple effects combine to create a powerful multiplier impact. Each dollar sent through remittances generates more economic activity within recipient communities. This transforms individual transfers into engines of collective growth and development.

Buffer During Economic Downturns

Remittances demonstrate remarkable counter-cyclical behavior, often increasing during recipient country economic crises when:

• Local unemployment rises.
• Government safety nets are strained.
• External economic shocks occur.

This stability was particularly evident during the COVID-19 pandemic, when many EMDEs experienced sustained remittance flows despite initial projections of steep declines.

Investment in Future Growth

Cross-border payments facilitate critical investments that might otherwise be impossible:

• Education funding creates human capital development.
• Housing investments build wealth and stability.
• Business formation generates employment opportunities.

These direct financial flows represent one of the most efficient mechanisms for supporting development, as they reach households directly without administrative overhead or political conditions that can affect other forms of international assistance.

Building Bridges to Prosperity

Remittances have changed from a mere money transfer to a potent force for economic transformation, especially in emerging markets and developing economies.

These cross-border financial flows create ripple effects that span multiple areas, supporting individual households, strengthening national economies, and providing a layer of resilience against economic shocks.

At UniTeller, we remain committed to facilitating these essential financial flows that connect the global economy and support millions of families and businesses worldwide. Our continued innovation in payment processing technologies aims to make cross-border transfers more accessible, affordable, and impactful for both senders and recipients. Learn more about how your business can leverage our international payment solutions.

It’s fair to say that the concept of FPS interlinking represents the cross-border payments equivalent of a video call. Just as digital connectivity has made it possible to talk and see each other halfway around the world, by just holding a mobile device, FPS interliking aims to make digital cross-border payments just as instantaneous.  

FPS interlinking is emerging as a new way to move money across borders, connecting fast payment systems (FPS) across different countries. And as the G20 Cross-Border Payments Roadmap pushes forward with ambitious goals, FPS interlinking is gaining momentum as the ideal tool to accomplish them.

Near-instant speed, complete transparency, and minimum costs throughout the process—that’s the promise of FPS interlinking. In this article, we’ll explore what it entails, its full benefits and challenges, and where we can expect it to expand.

What Are Fast Payment Systems (FPS)?

Fast payment systems enable near-instantaneous fund transfers around the clock, typically with immediate confirmation and settlement.

These financial infrastructures have gained significant traction all over the world, marking a major departure from legacy payment systems that can take days to process and settle.

Key characteristics that distinguish FPS include:

• Speed: Transaction processing in near real-time, usually in seconds.
• Availability: 24/7/365, including weekends and holidays.
• Settlement: Funds are transferred and made available to the recipient almost immediately.
• Confirmation: Instant confirmation messages ensure that both the sender and receiver know the status of their transaction.

These systems have revamped domestic payments across many nations, leading to expectations of a similar experience in cross-border transactions.

FPS Interlinking: A Global Perspective

FPS interlinking connects domestic payment systems for seamless cross-border transfers. It creates technical bridges between different national systems, enabling transactions to flow across borders with the same efficiency as domestic payments.

As a result, users experience familiar interfaces while sending money internationally—and benefit from the speed.

FPS interlinking eliminates unnecessary intermediaries by linking payment infrastructures directly. Reduced costs and faster processing times are the initial gains with respect to traditional cross-border payments.

The G20 Cross-Border Payments Roadmap, launched in 2020, identified FPS interlinking as a priority. The plan is to create more efficient and inclusive global payments by 2027, addressing high fees, slow speeds, and limited access that have long frustrated users.

The Committee on Payments and Market Infrastructures (CPMI) is an essential partner in helping to realize this vision through the development of critical standards and guidelines. Their October 2024 reports highlight growing opportunities as more countries adopt fast payment systems and improve technical interoperability.

FPS Interlinking in Singapore and Thailand

Real-world FPS interlinking success stories are mounting rapidly.

Singapore and Thailand were the first to adopt this type of system in 2021. Their PayNow-PromptPay link allows transfers using only mobile numbers, shrinking transaction times from days to minutes and massively decreasing costs for users in both countries.

India and Singapore followed in 2023, connecting UPI with PayNow. This links two of Asia’s fastest-growing payment networks, creating new opportunities for businesses and consumers in both markets.

Project Nexus is the next step in FPS interlinking. Rather than building separate connections for each country pair, it generates a hub-and-spoke model, where payment system operators can  reach out to all participating countries via a single connection.

The project includes the central banks of India, Malaysia, Singapore, Thailand, and the Philippines, with Indonesia participating as an observer. Together, their objective is to revolutionize digital cross-border payments by 2026, setting new standards for speed, cost, and accessibility.

Benefits of FPS Interlinking

The benefits of FPS interlinking are many and support the objectives of the G20 Roadmap’s enhancement of cross-border payments. These benefits ripple through consumers, businesses, financial institutions, and the broader economy, redefining how money moves across borders.

Speed and Efficiency

FPS interlinking significantly reduces transaction times for international money transfers, enabling near-instantaneous payments across borders.

The PayNow-PromptPay linkage between Singapore and Thailand demonstrates this transformation, as transfers that once took days are now completed in minutes.

Recipients gain immediate access to funds, which is particularly valuable for time-sensitive payments like emergency assistance or business transactions.

Reduced Costs

Conventional cross-border payments often include multiple intermediaries and charge fees that progress from one to another along the transaction path. FPS interlinking facilitates a more direct flow between payment systems, vastly lowering those costs.

With traditional cross-border payments, transactions cost around 7% of the total amount—or more. Before the PayNow-PromptPay linkage, senders had to pay up to 10% to move money between Singapore and Thailand. FPS interlinking aims to bring down those costs dramatically..

The cost advantages reach beyond single transactions. As payment providers compete with each other due to FPS interlinking, costs could continue to fall throughout the industry, making international transfers more affordable.

Improved Security

FPS interlinking incorporates robust security features to protect against fraud and cybercrime in cross-border transactions.

By implementing standardized protocols and data encryption throughout the interconnected systems, these arrangements often provide better security than traditional methods, which rely on outdated technologies or inconsistent standards across different countries.

Increased Transparency

One of the most frustrating aspects of traditional cross-border payments is the lack of visibility into transaction status and fees. FPS interlinking addresses this challenge by providing greater transparency throughout the payment journey. 

Users can track their transactions in real time, understand exactly what fees they’re paying, and know precisely when money will arrive at its destination.

Expanded Market Reach

FPS interlinking is an opportunity for a business in the world market to promote itself by streamlining cross-border payments. Entering new markets is easier for businesses that can provide familiar payment experiences, no matter where they are located.

This benefit is particularly valuable for businesses targeting international customers or operating in regions with significant cross-border commerce, enabling growth opportunities that might otherwise be hindered by payment friction.

Challenges in FPS Interlinking

Despite its promising benefits, FPS interlinking faces several significant challenges that must be addressed to achieve its full potential in transforming digital cross-border payments. These hurdles span regulatory, technical, security, and operational domains, requiring coordinated efforts from multiple stakeholders.

Regulatory Harmonization

One of the fundamental challenges is navigating different regulatory frameworks, which govern payment systems across jurisdictions. The comprehensive blueprint for Project Nexus acknowledges this complexity, identifying the need for a governance framework that enables interoperability while respecting diverse regulatory environments.

In order to achieve regulatory harmonization, collaboration between financial authorities, central banks, and other stakeholders is necessary to align rules on key issues like data protection, consumer rights, and anti-money laundering requirements. 

Without this alignment, FPS interlinking may face barriers that limit its effectiveness across different jurisdictions, creating an uneven global landscape.

Technical Standardization

Bridging disparate FPSs that use different technical frameworks requires extensive technological coordination. The domestic landscape of messaging formats, communication protocols, and data standards is diverse, making interoperability anything but seamless.

The increasing use of APIs and the ISO 20022 financial messaging standard has opened new possibilities for facilitating payment system interlinking. 

However, further standardization efforts are needed to ensure consistent connectivity across diverse systems. As the network of interconnected systems expands, so do the technical challenges.

Security and Fraud Prevention

As payment systems become more interconnected, they face increased security risks and sophisticated fraud attempts. Robust security that is able to work across systems and borders—while keeping speed and convenience—is essential to protect against these threats, which can undermine the benefits of FPS.

Coordinated approaches to security standards are needed to implement strong authentication mechanisms, encryption standards, and fraud monitoring between interconnected systems. Security levels and capabilities might vary across countries, creating weaknesses throughout the interconnected network that must be addressed.

Operational Reliability

Another big challenge is ensuring operational reliability in a complex interlinked system. The more payment infrastructures that connect, the more opportunities for technical problems or outages that can impact users in multiple countries all at once.

Developing resilient systems with minimal downtime requires careful design, thorough testing, and ongoing maintenance. Contingency plans must address scenarios where one part of the interconnected system experiences problems, ensuring that disruptions don’t cascade throughout the network and erode confidence in the system.

The Future of FPS Interlinking and Digital Cross-Border Payments

The future of FPS interlinking is poised for significant growth and evolution, driven by several cross-border payments trends:

• Expanding global adoption: Project Nexus aims to launch in 2026, connecting multiple countries through a unified network rather than individual bilateral agreements. This scalable approach will dramatically expand global payment connectivity.
  
• Public-private collaboration: The Financial Stability Board notes that while progress has been made, “further efforts are needed” to meet cross-border payment targets, requiring continued commitment from all stakeholders.
  
• Central bank leadership: Financial authorities will balance innovation with risk management, providing crucial oversight and promoting standardization across borders.
  
• Technological advancement: Cross-border payment APIs will continue revolutionizing payments by acting as master keys that harmonize diverse systems and compliance requirements across different jurisdictions.
  
• Financial inclusion: Expanded FPS interlinking will reach developing economies, bringing more people into the formal financial system and supporting regions that rely heavily on remittances.
  

These developments collectively point toward a future where cross-border payments become as seamless, affordable, and accessible as domestic transfers, fundamentally transforming global financial connectivity.

The Path Forward With FPS Interlinking

FPS interlinking is revolutionizing cross-border payments with unprecedented speed, savings, and transparency. As the G20 Roadmap progresses toward its 2027 targets, this technology will continue dismantling barriers that have hindered international transfers.

Despite challenges in regulation, standardization, security, and operations, successful initiatives like PayNow-PromptPay and Project Nexus show that collaborative innovation can overcome these obstacles.

UniTeller leads this evolution with cross-border solutions in 120 countries, providing real-time payment capabilities to MTOs, corporations, banks, and retailers. Through a single API integration, businesses access their global network for P2P, B2C, C2B, and B2B payments with real-time transaction visibility.

Ready to transform your cross-border payment experience? Discover how UniTeller’s innovative solutions can help your business stay ahead in today’s interconnected financial world.

The cross-border payments landscape is undergoing a major shift, and traditional banks are feeling the heat. 

With digital solutions gaining ground, you may wonder whether the legacy ways of handling international transfers are still up to the task.  

In this article, we’ll take a closer look at traditional bank cross-border payments, how they’re falling short, and why the digital route might be a better choice for both consumers and businesses alike. 

We’ll also explore how digital cross-border payment solutions are stepping up to meet the needs of the modern world, and how they compare to the traditional system. 

What Are Traditional Cross-Border Payments?

Put simply, cross-border payments are financial transactions in which money is transferred between two parties that are in different countries. 

This may come in the form of:

• Remittances: These refer to the direct transfer of money between individuals, typically across borders.
• Business/e-commerce payments, which include paying international suppliers and receiving customer payments across borders, often in multiple currencies.

Traditionally, cross-border payments have been handled by banks using the correspondent banking network. Banks that don’t have a direct relationship with one another use this method, by means of intermediary banks to help transfer funds internationally.

The way it works is seemingly simple.

Let’s say Bank A in the U.S. wants to send money to Bank B in Spain but doesn’t have an account with them. So, both banks use a correspondent (go-between) bank to help facilitate the transfer.

Interestingly, in this context, the term “cross-border payments” might be a bit misleading. The transferred funds aren’t technically “paid”. Rather, what happens is that accounts in one country are debited, and corresponding accounts in another country are credited. 

While the correspondent system sounds pretty straightforward, it’s unfortunately not without its complexities.

For popular currencies like the U.S. dollar and Euro, fewer intermediaries are generally needed—making transfers faster and cheaper. 

But for less commonly traded currencies, more intermediaries must often get involved, with each link in the chain adding more delays and fees to the process. 

Changing Tides in Cross-Border Payments

As the world rapidly (and fully) transitions into the digital age, we are seeing two major trends reshaping how the financial sector provides services. 

New Demands for More and Faster

Whether it’s buying a coffee at a local bar or making an international transfer, people today expect transactions to be quick, affordable, and easy.

According to the Federal Reserve, the demand for real-time payments is surging as consumers and businesses expect immediate access to their funds. In fact, in 2023, 86% of businesses and 74% of consumers used faster or instant payments.

In short, consumers want and expect things now, especially as mobile-first solutions become the norm. 

With smartphones becoming the go-to tool for everything, financial institutions must be able to provide seamless, user-friendly experiences for all transactions—not just domestic ones, but also across borders. 

Emerging Markets

Developing nations are increasingly vital to the global economy. However, citizens in these countries still face significant roadblocks in accessing the financial services they need to sustain their livelihoods and businesses.

With over two billion unbanked adults worldwide, financial inclusion remains a challenge—many still don’t have access to basic banking options. 

But the landscape is changing as new technologies step in to bridge this gap. These innovations are helping to reach underserved populations, fueling growth in both retail and consumer adoption of financial services.

This shift toward digital cross-border solutions is especially crucial as remittances to low- and middle-income countries now surpass other financial flows. High fees—averaging 6.35% per international transaction—still pose a major hurdle, underscoring the urgent need for more affordable cross-border payment options.

Why Traditional Banks Are Struggling

Despite the demands and challenges—and even opportunities—that the above trends present, many traditional banks offering cross-border payment services continue business as usual, with no updates in sight. 

But why? 

• Reliance on correspondent banking: The correspondent banking network has been in place for over a century and provides a familiar structure for banks to facilitate international transactions. For many institutions, it’s simply easier to stick with a long-established system than to overhaul their systems. 
• Outdated infrastructure: Despite the growth of digital payment solutions, many traditional banks still lack the modern technology or partnerships needed to move away from correspondent banking. 
• Limited innovation: Traditional banks are known for being notoriously slow to adopt emerging technologies, especially in digital banking. In fact, in 2023 75% of banks struggled to implement digital solutions due to legacy infrastructure.  
• Reticence to invest: Making the switch from correspondent banking to newer technologies involves costs, both in terms of financial investment and training staff. Many traditional banks consider it more cost-effective to maintain their current systems.

As it stands, many banks remain stuck in their old ways, unable to offer the speed and convenience the world is now used to. 

This creates a major point of friction, particularly for people who need to send funds quickly. On top of high fees, recipients often have to wait several days for the money to clear, which feels like an eternity in an era of instant transfers.

Moreover, immigrant communities and underserved populations face additional challenges with traditional banks’ cumbersome processes—leaving them at a disadvantage in today’s digital, connected world where cross-border payments should be easier and more inclusive.

The Digital Cross-Border Payments Response

As banks fail to evolve their services at the same pace as demand, the traditional approach to making cross-border payments is quickly becoming obsolete. 

Enter the game-changing alternative: International B2B digital payment solutions.

Industry leaders like UniTeller are revolutionizing how consumers and businesses move their money around the world—offering speed and security, at a fraction of the cost compared to traditional banks. 

With real-time transfers, transparent and affordable pricing, and top-tier security, digital is quickly becoming the only viable option for cross-border payments.

As the global B2B payments market grows into the hundreds of trillions of dollars, the demand for faster, more efficient options is sure to only intensify. 

UniTeller’s Digital Solutions for Cross-Border Payments

If your business is still relying on traditional bank methods for cross-border payments, it may be time to take a different course of action. 

Put simply, banks can’t keep up with the growing demand for fast, affordable, and secure transactions—and slow transfers, high fees, and outdated processes are very likely holding your business back. 

In other words? As the world moves towards digital payments, sticking with traditional methods could pose a serious risk to your ability to stay competitive. 

The good news is that, with platforms like UniTeller and uLinkbusiness, you can execute transactions in real-time, at a fraction of the cost, and with much stronger security. 

The future of cross-border payments is here, and it’s digital. Learn about our suite of cross-border payment solutions today!

Central to global trade and financial activity, cross-border payments have evolved dramatically over the years, bringing businesses greater convenience and speed when sending money around the world. 

But despite this progress, challenges like high costs, slow processing times, and limited access still stand in the way of achieving a truly seamless global payments system.

A few years ago, the G20 Cross-Border Payments Roadmap was developed, with the aim of tackling such issues head-on to create a truly efficient, affordable, and inclusive ecosystem. 

In this article, we’ll dive into what the Roadmap is, the key players behind it, and the global obstacles it’s addressing. We’ll also take a look at the progress made over the last year and how this initiative is shaping the future of cross-border payments.

What Is the G20 Cross-Border Payments Roadmap?

Put simply, the G20 Cross-Border Payments Roadmap is a global plan aimed at creating a more efficient, transparent, and inclusive cross-border payments system by 2027.

At the request of the G20, the Roadmap was introduced in October 2020 to address some of the biggest pain points affecting international payments today, including high fees, slow speeds, poor transparency, and limited access. 

By making these payments faster and more affordable, the Roadmap aims to boost economic growth and support global development—especially in countries that rely heavily on remittances or international trade. 

Broken down into 19 “building blocks,” the Roadmap focuses on several areas to reduce the hurdles that tend to come with global transactions, including:

• Payment system interoperability.
• Regulatory alignment.
• Data exchange.
• Messaging standards.

Today, the initiative is coordinated by the Financial Stability Board (FSB), an international body that works to maintain global financial stability, and supported by the Bank for International Settlements’ Committee on Payments and Market Infrastructures (CPMI) and other key groups from around the world.

Cross-Border Payments Challenges

As we briefly mentioned above, the G20 Roadmap aims to overcome four major barriers currently limiting the full potential of cross-border payments:

High Costs

One of the major challenges with cross-border payments is high costs, as fees for international transfers are often much higher compared to domestic transactions.

Global corporations move a whopping $23.5 trillion across borders every year—about a quarter of the world’s GDP. Yet, they lose a staggering $120 billion annually in transaction fees, and that doesn’t even include the extra costs from currency exchange. 

Meanwhile, the impact is even worse for low-income families and small businesses in developing countries, who face high remittance costs.

According to the World Bank, the current global average to send $200 globally is about $12.50 (or 6.25%), but in some regions, the fee can skyrocket by 50%, further hurting those who need money the most. 

Slow Transactions

Despite advancements in technology, many international transactions can be unpredictably slow to process. This is due to several factors including:

• Lack of interoperability between payment systems: Without a seamless connection between payment systems across countries, international banks must act as go-betweens, resulting in slower transactions.
• Varying clearing house schedules: When payments move across time zones, they can get delayed due to different clearing house hours, creating trapped liquidity.
• Compliance requirements: While essential, anti-money laundering (AML) and know-your-customer (KYC) checks add complexity to each transaction, further slowing things down.
• Outdated technology: To make matters worse, many banks are still using legacy software, which can’t keep up with the demand for faster, real-time payments. 

As a result, a cross-border payment could take several days and cost up to ten times more than a domestic transfer.

Lack of Transparency

One of the biggest issues with cross-border payments is the lack of transparency—leaving users in the dark about important transaction details.

Traditionally, payments are routed through multiple correspondent banks, with neither the originating nor the beneficiary bank knowing exactly where the money is at any given time. This makes it nearly impossible to predict when the payment will arrive or what the exact costs will be. 

Moreover, limited transparency around fees and foreign exchange rates result in users losing money. Senders must often send the transaction before knowing the cost of the transaction, including fees and foreign exchange expenses. 

One report shows that businesses lose an average of 3-5% of their transaction value due to confusion and added costs.

Limited Access

Financial inclusion is still a big issue worldwide, with many people and small businesses—often those in developing countries or rural areas—struggling to access cross-border payment services.

There are several reasons for this.

For one, not all currencies are supported by international payment networks, and some providers lack the right connections to handle cross-border payments easily. As a result, they may have to rely on slower, less secure alternatives. 

Meanwhile, a 2022 CPMI report highlighted that only a small number of payment systems offer direct access to non-bank PSPs, financial market infrastructures, and foreign banks—key players in international payments.

Ultimately, these barriers limit access to global markets and opportunities, making it harder for people in underserved areas to improve their financial situation. 

Roadmap Progress So Far

Despite the many challenges that cross-border payments present, the Roadmap continues to make progress.

Now in its sixth year, the FSB shared the Roadmap’s most recent progress report in October 2024, featuring the following milestones. 

Harmonization of ISO 20022

In recent months, many of the world’s central banks and private payment operators have migrated to ISO 20022, a global standard that aims to break down communication barriers caused by different terminology.

This represents a big step toward faster payments, improving processes like compliance with financial crime regulations. 

Extension of operating hours for RTGS / payment systems

In the past, the limited operating hours of Real-Time Gross Settlement (RTGS) systems, especially across different time zones, led to delays and higher costs. Now, more systems are extending their hours, creating better overlap between time zones.

This move should make a big difference in improving liquidity management, reducing settlement risks, and boosting the performance of systems that support cross-border payments. 

Exploration of APIs

APIs (application programming interfaces) are becoming a key part of how payments work, helping with tasks like checking account details, ensuring payments follow the rules, and fixing errors.

However, different countries and systems use their own technical standards—leading to delays, mistakes, and extra costs.

To address this, the Committee on Payments and Market Infrastructures published ten API recommendations in late 2024 to make APIs work better together across borders. These suggestions aim to reduce manual work, speed up data sharing, and make the payment process more affordable for everyone—without pushing for a single global standard. 

FPS Interlinking

Over 70 countries have set up Fast Payment Systems, with many more in the works. 

While they were originally designed for domestic payments, experts believe that FPS interlinking could really improve cross-border payments—enabling money to move more smoothly, and directly, between countries.

Because these systems operate across different nations, currencies, and regulations, setting up proper governance is tricky. Efforts are underway though, with the CPMI working to address these challenges.

Project Nexus is one such FPS interlinking initiative involving central banks and payment operators from ASEAN nations. Phase 3 recently wrapped up, and Nexus is already connecting countries with projects like the PayNow and PromptPay systems between Singapore and Thailand. 

Ultimately, much progress has been made in the several years since the Roadmap was first introduced.

However, more work is needed, especially in terms of cost and speed. Some regions are closer to meeting targets, but achieving them will require more time and continued collaboration to address ongoing technological, legal, and operational changes.

Impact on Businesses

Enhancing cross-border payments is ultimately a win for everyone—businesses, consumers, as well as the general economy. 

By improving speed, reducing costs, and enabling faster settlements, the G20 Roadmap is helping to create a much more efficient and transparent system for global transactions.

For businesses looking to stay ahead of the curve, it’s critical to use payment solutions that align with the Roadmap’s goals. 

UniTeller’s cross-border payments solutions—including UniTeller Cross-Border Pay, UniTeller Cross-Border Send, UniTeller Instapago, and UniTeller Business Payments—are built with the G20 Roadmap in mind, ensuring cost-effective, fast, transparent and inclusive access to businesses worldwide. 

No matter where in the world you’re located, we ensure your transactions will get where they need to go—helping your business stay competitive and run smoothly in an ever-connected world.

Meanwhile, we are not satisfied with the status quo. Rather, we are committed to refining our solutions as more Roadmap milestones are reached, ensuring we remain in line with the most efficient cross-border payment strategies out there. 

UniTeller: Powering the Future of Cross-Border Payments for Business

The G20 Cross-Border Payments Roadmap is a true game-changer, driving much-needed transformation to create a stronger, much more modern, and valuable global payments system for all.

And UniTeller is excited to be championing it. If yours is a company with operations or vendors abroad, our cross-border payments solutions are designed to make your business transactions smoother, more secure, and more cost-effective. Find a solution that best fits your business with one of our business payment solutions.

Meet EcoBean, a growing e-commerce company based in the United States, which sells sustainable coffee products to consumers.

Having recently acquired new suppliers in Colombia, Indonesia, and Vietnam, EcoBean is on a mission to expand its reach even further. They’re looking to hire local sales representatives in each of those countries, and plan to begin shipping products to customers internationally. 

All of these plans require EcoBean to face a crucial challenge: ensuring they can properly pay their global suppliers, compensate staff abroad, and accept payments from customers outside the U.S.

So, how should they go about making these cross-border payments? 

The “how” is an incredibly important business decision, as your ability to manage international transactions can ultimately make or break your business’ cash flow, relationships, and even your reputation.

In this article, we’ll look at the global e-commerce market, the common challenges these companies face with existing payment systems, and how a reliable cross-border payment solution can make it easier to run a thriving business.

The Impact of E-Commerce

In recent years, e-commerce has become a major player in the global marketplace, changing not just how businesses operate, but also how consumers shop. 

With digital technology, companies can now reach more customers and form more partnerships, beyond their local geographies.

This shift has made international trade easier, particularly for small and medium-sized businesses (SMBs). Now, these smaller companies have a chance to compete with the “big guys” by tapping into a whole new world of potential buyers and revenue opportunities. 

And consumers are buying in.

In fact, in 2024, global retail e-commerce sales will likely surpass $4.1 trillion—and nearly double by 2027. In other words, consumers are increasingly willing to buy from companies outside of their own countries.

It’s no wonder that businesses are eager to establish a global presence for themselves. 

However, to thrive in the global e-commerce landscape, businesses must be able to efficiently manage financial transactions with customers, suppliers, partners, and employees across different countries.

The Challenge of Cross-Border Payments

While expanding internationally can offer exciting opportunities, dealing with cross-border payments can present obstacles.

Below, we explore the common problems e-commerce business owners run into with these types of transactions.

Currency Conversion

Currency conversion can complicate cross-border payments for e-commerce companies in several ways:

• Fluctuating currency values can change rapidly: One minute, a dollar might be worth a lot—and the next minute, it could drop. This can lead to uncertainty about the final amounts you’re receiving or paying. 
• Currency conversion fees: These often hidden fees can be challenging for businesses to anticipate and manage. To make matters worse, these aren’t the only fees many payment processors charge.
• Buyer confusion and frustration: If a potential customer is unsure about the total price for your products in their local currency, this can lead to confusion, frustration, as well as abandoned carts. 

Overall, these challenges can hinder an e-commerce company’s ability to efficiently operate across borders, affecting cash flow as well as customer satisfaction, trust, and loyalty.

High Transaction Fees

Some cross-border payment methods can be expensive, and fees and charges vary depending on the country and payment method you’re using.

Here are just a few (but certainly not all) of the other fees that may be added to your total cost of payment:

• Bank/intermediary bank fees: When you make an international payment, it often passes through several intermediary banks. Each one charges a fee for handling your transaction and being the bridge between the sending and receiving banks.
• Compliance fees: Adhering to industry standards like anti-money laundering (AML) compliance can involve additional costs, either in the form of direct charges from the payment processor or by requiring you to invest in necessary legal measures.
• Foreign transaction (FX) fees: Different from currency conversion fees (which are charged for converting from one currency to another), FX fees may also apply when you make purchases or withdrawals in a foreign currency.

On average, sending money internationally can cost about 6.3% of the transaction value. But in some cases, that percentage can be even higher.

These fees can be a major obstacle for smaller e-commerce businesses trying to compete on the global stage. They shrink profit margins and hinder growth, while limiting access to customers around the world.

Delayed Payment Settlements

When the payer and payee are both in the United States, electronic transfers can happen almost instantaneously.

But that’s not necessarily the case when they’re in two different countries. 

Sometimes, a cross-border payment might linger in limbo for days or even weeks before reaching its final destination.

Several factors contribute to these slowdowns: 

• While some cross-border payment systems have embraced advanced digital solutions that include automation, others continue to depend on manual methods for processing each transaction.
• Each international payment must go through multiple steps, including reconciliations and funding processes, anti-money laundering (AML) checks, and know your customer (KYC) protocols.
• Meanwhile, if any step reveals missing information or requires verification, the transaction can be held up, leading to further delays. 

Especially if you’re a small business owner, you rely on timely payments to meet operational costs, pay suppliers, and manage inventory. When payments are held up in less efficient systems, these delays can be detrimental.

Fraud and Security Risks

Unlike domestic transactions, which often have more uniform regulations and protections, cross-border payment systems are inherently riskier.

This heightened risk opens the door to various fraudulent activities, including:

• People using stolen credit card information to make unauthorized purchases.
• Customers disputing legitimate transactions, claiming they were unauthorized so they can receive a refund, while still keeping your product or service (this is also known as “chargeback fraud”).
• Criminals creating fake identities to open accounts or make purchases. 

Meanwhile, each country has its own set of security requirements, which can vary significantly from one jurisdiction to another. This is especially evident in AML regulations, where standards for reporting suspicious activities and verifying customer identities can differ widely.

These variations can make compliance a concern for e-commerce businesses wanting to operate on a global scale, with the added threat of fines, penalties, and reputational harm if they fail to meet regulations.

The Importance of Seamless Cross-Border Payments

It may sound like an exaggeration, but for e-commerce businesses, working with a reliable cross-border payment platform can truly revolutionize their operations. 

In fact, by centralizing international payments, these streamlined solutions essentially remove all the frustrations that often accompany such transactions, while also saving users money and boosting efficiencies.

Let’s explore how these platforms can help ease the pain of cross-border transactions. 

Conversion Made Simple

A seamless cross-border payment solution greatly simplifies transactions for both e-commerce businesses and their customers by automatically handling currency conversion.

Customers can make purchases in their native currency, while businesses receive funds in their own currency—all while bypassing the stress of dealing with fluctuating exchange rates. 

Solutions like UniTeller further enhance this experience by supporting conversions for over 80 currencies. This helps broaden global market access for e-commerce businesses, enabling them to do business with virtually anyone, anywhere in the world.

It also eliminates the need to juggle multiple providers for different currencies—instead, businesses can enjoy the convenience of relying on just one single, reliable service for all international payments.

With the ability to provide transparent pricing, this automation also minimizes customer confusion. Customers can know exactly what they’re paying upfront—instilling confidence in the business they’re purchasing from. 

Reduced Transaction Fees

Unlike traditional banking networks that often involve multiple intermediaries, modern cross-border payment solutions optimize the payment route—processing transactions with fewer institutions involved.

This optimized approach can significantly reduce costs, because it eliminates the various per-transaction fees that traditional banks typically charge. 

For smaller e-commerce businesses, lower transaction fees mean they can maintain healthier profit margins. This not only empowers them to continuously reinvest in their operations, but also allows them to offer more competitive prices to their customers.

Many of these payment processors also provide competitive fees for businesses with high transaction volumes, making them an attractive option for growing e-commerce companies. 

Quick Payments

For smaller companies, having fast access to funds is critical to growth and staying competitive. After all, when cash flow is smooth, it’s much easier to take advantage of new opportunities and keep up with competitors.

Because seamless cross-border payment solutions can often be completed in near real-time, e-commerce businesses can receive their money without unnecessary delays.

Take UniTeller Cross-Border Pay, for example. Because our global payment gateway uses a single API solution to streamline transactions, it ultimately reduces the number of intermediaries involved, which significantly speeds up the payment process. 

Additionally, these online payment platforms prioritize security alongside speed, using advanced encryption and fraud detection systems to protect financial data. This ensures that e-commerce businesses and their customers can enjoy a smooth, safe payment experience, balancing fast transactions with robust safeguards against cyber threats.

Mobile Convenience

As mobile adoption continues to surge globally, cross-border payment platforms like Uniteller are capitalizing on this trend by integrating mobile payment options, allowing e-commerce businesses to cater to customers who prefer to pay via their smartphones. 

These systems provide APIs that merchants can very easily incorporate into their websites and apps, ensuring a seamless and user-friendly buyer experience.

Additionally, many platforms use analytics to track mobile payment trends, helping businesses identify the most popular payment methods and refine their offerings. 

By making payments flexible, cross-border payment platforms enable e-commerce businesses to meet the growing demand for mobile payments and enhance customer satisfaction. With the added benefit of unlocking new opportunities for international sales growth.

The Future of Cross-Border Payments for E-Commerce Growth

For e-commerce businesses eager to expand globally, the cross-border transaction process can often be complex and frustrating. 

The traditionally long chain of steps increases the likelihood of delays, leaving both businesses and customers anxious about transaction timelines and costs—and leading some businesses to limit their operations to their home countries, stifling growth opportunities.

Fortunately, cross-border payment solutions like UniTeller are changing the paradigm. As a leading payment solution, our global payment gateway enables businesses of all sizes to send and receive money worldwide easily and securely.

UniTeller offers an ever-reliable cross-border payment solution that covers over 120 countries and supports more than 80 currencies.

Meanwhile, our network processes an impressive $17 billion in total volume each year, reflecting the confidence our customers have in us for managing their international payments.

With UniTeller, achieving a streamlined international payment experience is just one API integration away.

Paying and receiving payments are essential for any business to operate—no surprise in that.

Whether you’re compensating suppliers, sourcing products, paying employees, or receiving payments from customers halfway around the world, your payment systems must be quick, safe, and efficient. 

Cross-border payments might sound like something only big multinational corporations need to worry about. But in reality, they are just as important for smaller businesses.

In this article, we’ll discuss how working with a robust cross-border payment solution can help streamline your operations, enhance cash flow, and reduce costs.

To ensure you’re getting the best value, we’ll also guide you in selecting the right solution and provider for your business—and highlight key features to look for. 

Why Your Business Needs a Cross-Border Payments Solution

In today’s increasingly interconnected world, there’s no reason to limit your business to just local markets.

That’s because cross-border payment solutions can open the doors to a new world of possibilities for companies wanting to expand, diversify, and streamline their operations. 

If your focus has solely been local, now’s the time to explore how these solutions can fuel your business growth on a global level. 

Here are just a few reasons to consider investing in a cross-border payment platform. 

Access to Global Markets

Cross-border payment platforms empower businesses to expand beyond their local market and tap into global opportunities.

From reaching new customer segments to connecting with global partners, these platforms help you expand your business in ways that were previously much more complicated.

Plus, you can use these solutions to hire top talent from around the world and streamline international supply chains. After all, a cross-border payment solution can allow you to make (and receive) payments as easily as if you were all in the same country. 

This larger market reach can create exciting growth opportunities and significantly increase your revenue.

Speed and Efficiency

Today’s cross-border payment systems are all about speed—often processing transactions in real-time.

This translates to faster cash flow, which is especially key for smaller businesses to keep operations running smoothly. 

No need for delays when sending or receiving funds: with cross-border payment solutions, everything happens pretty much instantaneously.

Even better, by cutting out unnecessary hold-ups and administrative work, your business can more easily free up resources and improve overall efficiency. 

Better Exchange Rates and Lower Fees

Because they often cut out “middle people” like traditional banks, cross-border payment solutions can help businesses save money on each transaction—helping keep your expenses in check.

Using these platforms’ automatic and competitive currency conversion features, businesses can avoid high exchange rates and extra (and often hidden) fees. 

Overall, cross-border payment solutions make international transactions much more affordable for senders and recipients alike.

Enhanced Customer Experience

If you’re selling products online, standing out from the competition is key—and convenience plays a huge role.

No matter where customers are located globally, cross-border payment platforms provide them the freedom and flexibility to pay in their preferred currency and payment method, making the checkout process much smoother. 

By catering to international buyers’ preferences and ensuring payments go through in a reliable and timely way, can help encourage repeat business.

Ultimately, offering smooth cross-border payment options can foster stronger brand loyalty and keep customers coming back for more. 

Scalability for Business Growth

Today’s cross-border payment solutions are designed to handle transaction volumes of all types and sizes.

So, as your business expands into new regions, you don’t need to worry about eventually outgrowing your chosen system. 

Whether you’re reaching more customers, adding suppliers, or exploring new markets, your payment system will grow with you, keeping things efficient and disruption-free.

With one less concern on your plate, you can focus on what matters most—driving your business growth forward. 

What To Look for in a Cross-Border Payments Solution

Now that you understand the value of cross-border payment solutions for your business, you’re probably asking yourself, “How do I choose the right one?”

To help you make the best choice, we’ve broken down key features you should look for when selecting a platform for your international business payments. 

Currency Coverage and Conversion Rates

Taking your business global can be daunting, especially when you have to deal with fluctuating exchange rates and extra fees for currency conversions. 

That’s why it’s so important to choose a solution that:

• Supports a wide range of currencies.
• Offers competitive exchange rates.
• Handles currency conversions automatically.

Some providers even let you hold multi-currency accounts, so you can keep funds in local currencies, avoid unnecessary conversions, and save even more. 

Transparency and Cost Optimization

Many “traditional” international payment methods often involve extra charges, like intermediary bank fees and currency conversion markups. This makes it hard to know exactly how much each payment will actually cost.

To avoid these surprises, look for a solution that: 

• Displays all fees upfront, with a clear and transparent pricing structure.
• Provides flexible pricing models (whether per-transaction fees, monthly subscriptions, or volume-based pricing) so you can choose the most cost-effective option.
• Offers added benefits like fraud protection, detailed reporting and dispute resolution (these may come at an added cost, but could be worth the extra investment). 

Combined, all these features help ensure your transactions will be much more predictable and cost-effective in the long run.

Security and Compliance Standards

Unlike domestic transactions, cross-border payments come with unique risks like fraud, data breaches, interception and tampering of transactions, and more.

One of the reasons for this is that different countries have varying security regulations. In other words, there is no single authority to oversee and govern international transactions. 

To keep your payments and data out of the reach of cybercriminals, look for a reliable platform that includes:

• Advanced security protocols like encryption, tokenization, and two-factor authentication.
• Fraud detection tools.
• Real-time monitoring.
• Account takeover protection. 

So you can avoid hefty fines, it’s also crucial that your solution is compliant with international anti-money laundering (AML) standards, know your customer (KYC) rules, and other global regulations.

Transaction Speed and Tracking

Same-country money transfers generally happen instantaneously. But this is not always the case when you’re sending and receiving payments across international borders.

Days- or weeks-long delays can be caused by several factors, including manual processing, multiple steps for verification across multiple intermediaries, and anti-money laundering checks. 

For small businesses, these delays can disrupt operations, slow down cash flow, and damage supplier and customer relationships.

That’s why it’s essential to confirm that your cross-border payment provider offers real-time or near-real-time payments—so you can get funds quickly and keep your business running smoothly. 

In addition, look for a solution that offers tracking features. That way, you get ongoing visibility into where your payments are at every step.

Automation, API Connectivity, and Ease of Use

As you search for a cross-border payments platform, keep your eyes peeled for these essential features, which will help your business save a great deal of time:

• API connectivity ensures your payment system can sync data automatically with other business tools, eliminating manual entry, reducing the likelihood of human error, and keeping your financial records organized and accurate.
• Automation is another game-changer. It can do the heavy lifting of converting different currencies without the need for constant human oversight. It can also handle recurring and batch transactions, reconciliation processes, and even schedule payments for you.
• It’s also important to choose a solution that’s simple to use. Look for a platform with an intuitive interface, so your team can get up to speed quickly, saving both time and training costs. 

Ultimately, these features will help your business run more efficiently, improve accuracy, and free up valuable time so you can focus on growth.

Tips for Finding a Trusted Partner

When you’re looking for a solution, make sure to also consider the company behind it. 

Choosing a cross-border payment provider isn’t just about meeting your immediate needs—it’s about finding a reliable partner that can evolve along with your business. 

Here are some helpful tips to guide you in making a smart, strategic decision when evaluating payment providers.

• Read customer reviews: Look for real-world testimonials not only on the provider’s website but also on industry forums. This will give you an idea of how the company has helped businesses like yours navigate cross-border payments—and offer valuable insights into both the strengths and potential weaknesses of the provider.
• Check out their other customers: While not everyone writes reviews or participates in case studies, many customers are happy enough to have their name and logo featured on the provider’s website. If the provider works with established, reputable businesses, that’s a strong sign of trustworthiness.
• Consider reputation, recognition, and longevity: Your ideal provider will have a strong track record in the cross-border payment industry. See how many years they’ve been operating (often the longer, the better) and whether they’ve won any industry awards.
• Look at their partners: Top payment providers often partner with banks, financial institutions, and tech companies. These collaborations can offer additional benefits, including access to real-time payments, currency hedging, or even blockchain integrations, so be sure to check out who they’re working with.
• Ensure they provide quality customer support: Especially when you’re sending money across different countries, you need reliable access to responsive, results-focused customer service. Look for providers who offer multilingual regional teams with local knowledge of regulations and payment practices.
• Confirm their ability to scale: Pick a provider that’s equipped and willing to support your business as you expand. Look for a company committed to staying ahead with regular updates, regulations, and innovations to meet your evolving requirements.
• Don’t overlook their vision and mission: Seek out a partner whose values align with your own. After all, having a provider who shares your vision can make working together that much smoother. It’s all about “speaking the same language,” both literally and figuratively. 

With these guidelines in mind, you’ll be better equipped to manage the complexities of cross-border payments and build strong, enduring partnerships for your business’s success.

The Cross-Border Payments Solution You Deserve 

If you’re looking to take your business beyond local markets and expand internationally, UniTeller is the partner you need to make that goal a reality. 

At UniTeller, our mission is simple: To help companies of all sizes connect with the world and unlock global opportunities through smooth, secure cross-border payments.

With over 30 years of experience in the industry, we’re all about innovation and staying ahead of the curve, ensuring our products and services always stay in lockstep with your evolving business needs. With UniTeller, you’re not just expanding your reach—you’re gaining a reliable partner who makes global growth possible.