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Some payments providers are also leveraging blockchain and distributedledgertechnology (DLT) to meet these needs, expediting the cross-border payment process. Remittance and peer-to-peer (P2P) payment technologies have accelerated transaction speeds for consumers tired of waiting days for money to move across borders.
This month’s Deep Dive explores the frictions currently afflicting the B2B cross-border payments and P2P remittances spaces, as well as the solutions being developed to accelerate transactions and reduce pain points. Global financial companies like Circle provide zero-fee remittances via DLT, and Ripple began piloting xRapid for U.S.
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