IBAN, short for International Bank Account Number, is an alphanumeric code that helps financial institutions identify the correct recipient of a payment. Although each country may have its own specific format for IBANs, they must comply with...

Historically, international payments were always time-consuming and arduous. Only about two decades ago, making a cross-border payment would require you to go to your local bank and fill up a transfer form manually. In addition, these global payments always came with a hefty fee, be it ...

ACH, which stands for Automated Clearing House, is a network used to send and receive money between bank accounts. This payment system, which uses the ACH Network, was established in the 1960s to ...

The global banking system relies on intermediaries to facilitate payments when the sender’s bank does not have an established relationship with the beneficiary’s bank.

According to the World Bank, global remittances reached a record high of USD $630 billion in 2022. These remittances were sent through money transfer operators, which included wire transfers and telegraphic transfers.

In 2022, SWIFT recorded an average of 44.8 million transactions per day, a 6.6% growth compared to the same period in the previous year.

Since integrating Wallex into its operations, La Cosecha has saved over 40% of its international payment transaction costs. Here’s how Wallex has improved the company’s internal processes and opened the doors to the potential for international expansion.

Remittance is the cross-border transfer of funds from one entity to another. The term remittance is derived from its root word of remit, which means to “send back”.

In a perfect world, everyday items like an apple or a set of utensils should have the same price, regardless of your location. This concept is known as the law of one price (LOOP) — one item, one price, despite the currency exchange. But, the reality is that a currency conversion