‘The Road Ahead: Towards Seamless Payments Interoperability’, an eBook from Thunes, Visa, and The Paypers, explores how payments interoperability is reshaping the future of cross-border transactions.
Cross-border payments are a vital part of the global economy, but they often face barriers such as high costs, delays, and a lack of transparency. However, a transformation is underway that promises to revolutionise the way money is moved internationally.
Payments interoperability refers to the ability for different financial systems and networks to work together seamlessly, allowing for smoother and faster cross-border transactions. This eBook takes a deep dive into the current challenges and frictions caused by a lack of interoperability, ranging from consumer-to-consumer (C2C) to business-to-business (B2B) payments.
The path toward achieving payments interoperability relies on a combination of advanced technologies and global regulatory standards. The report sheds light on critical solutions that enable this transformation, including:
APIs (Application Programming Interfaces) for seamless integrations.
Open Banking frameworks that foster innovation.
Blockchain technology for enhanced security and efficiency.
Real-time payment networks for instant cross-border payments.
Global regulatory initiatives and standards are key in making payments interoperability a reality. This section of the report covers:
International laws and guidelines that encourage interoperability.
The importance of regulatory bodies in shaping a globally unified payments landscape.
In this rapidly evolving landscape, solution providers like Thunes are playing a critical role. Thunes is simplifying cross-border transactions and enhancing payment interoperability by offering multilingual customer support, implementing dispute resolution systems, and developing cutting-edge technologies that address payment inefficiencies.
The eBook identifies the stakeholders that stand to benefit most from seamless payments, including:
Consumers: for frictionless international transactions.
Businesses: seeking faster, more cost-effective cross-border payments.
Governments: aiming for financial inclusion and regulatory compliance.
By understanding payments interoperability, stakeholders can unlock new opportunities in the global finance ecosystem. This report equips readers with valuable insights to navigate the complex world of cross-border payments and emerge with practical solutions to overcome challenges.
If you're interested in exploring this topic further, we’ve prepared an in-depth review of the eBook for you. You can read more about it here.
A special thank you to Thunes for their invaluable insights in making this eBook a reality and for driving the future of seamless cross-border payments.
Interested in learning more? Download your free copy today here!