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What are cross border payments?

Cross-border payments refer to transactions involving individuals, companies, banks or settlement institutions operating in at least two different countries and are international transactions. These payments are inclusive of retail and wholesale transactions.

What is a cross-border transaction?

Cross border transactions involve the movement of funds between national borders. Specifically, when the merchant’s business is registered in one country, and the customer’s card was issued in another. The 2022 Visa GME study shows that 87% of global merchant executives view cross-border sales as the biggest area for potential growth.¹

What are examples of cross-border payments?

For instance, a Canadian mining company may acquire a mine in South Africa and would make the payment for this purchase with an international transaction. When trading in foreign financial markets, companies often need to make cross-border payments. If a European hedge fund buys US stocks, for example, they would use an international payment.

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