In today’s digital economy, most people think that sending money across borders is a seamless process.
While it’s true that most front-end user experiences now offer a more frictionless environment for both consumers and businesses, the behind-the-scenes processes that allow for money to move from payor to payee still rely on an incredibly archaic system.
The reality is, we are still far from simple when it concerns global money transmission. Due to regulations that are designed to thwart money laundering, anyone attempting to transact on a global scale will encounter a patchwork of complex laws and local requirements that make payments anything but borderless. Payment service providers focusing on moving money globally must act as the interpreter of these requirements, where any mistake may prove to be costly.
To get comfortable with cross-board payments, read the full article visit www.paymentsource.com.
Originally posted and written by PaymentSource.
In the Press
Buoyed by reports of record 2018 holiday spending, analysts predict more retail growth in 2019, particularly in the evolving small and midsize business (SMB) sector. Advanced technologies have introduced SMBs to a big-brand experience and new set of challenges.
When it’s time to pay up, commercial buyers may be in for a pleasant surprise when purchasing online. The launch of Amazon’s Pay By Invoice feature last year opened the door for more flexible B2B payment schedules.
The expectations of B2B buyers are evolving. Today, buyers are looking for the same ease and convenience Amazon delivers for B2C transactions. Satisfying such demand, however, isn’t as simple as developing an online presence.
Don’t think of them as mere podcasts — though PYMNTS certainly does a lot of podcasts, discussing with payments and commerce experts the hottest topics of the day, with each conversation not only digging into the past and present but having an outlook toward the future.
Today’s business world is one of rampant change. While technology is driving much of this disruption, evolving customer expectations are dramatically altering the face of the financial services, payments and fintech industries.
MSTS, a global B2B payment and credit solutions provider, today announced that its innovative Credit as a Service solution is now available to mid-market and small businesses.
CIO Spotlight: Dan Zimmerman, MSTS
Name: Dan Zimmerman
Job title: Chief Product and Information Officer (CPIO)
Time in current role: 3 yrs.
Location: Overland Park, KS