international payments

Sending money to someone else halfway across the world has never been easier and global trade and commerce has been all the better for it. But it wasn't always this way. In fact, moving money across borders digitally is a relatively new phenomenon, aided by the payments infrastructure

As the fourth most populous country in the world, Indonesia is a key market for businesses looking to expand their operations. The country has a rapidly growing economy and a large consumer base, making it an attractive destination for companies looking to enter the Southeast Asian market. However, there are

This concept of foreign currency translation is crucial because of the constant fluctuation of foreign exchange (FX) rates, which impacts the value of assets and liabilities in foreign currencies. In accounting, even tiny differences like these can lead to...

ISO currency codes, commonly used synonymously as country codes, are unique alphanumeric codes assigned to each currency used in international transactions. These codes were established by the International Organisation for Standardisation (ISO) to improve the accuracy of global payments.

First of all, are there alternatives to SWIFT Payments? Well, yes and no — yes, there are competitors; no, there aren’t any direct replacements. To sum this article up, other messaging networks exist, but they each have their own set of limitations.

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 ...

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.