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Financial institutions are facing increased pressure to make cross-border payments fast and seamless as consumers grow used to instant P2P payments and such products in other sectors. More than 110 banks from Europe, Asia Pacific, Africa and the Americas are part of the SWIFT gpi, which has been in a pilot stage. and Australia’s NPP.
More Instant Peer-to-Peer (P2P) Payments Waiting days for payments to clear will become a thing of the past in 2024. In the face of increasing inflation and economic downturn , increasing the velocity of money becomes more important for merchants, and P2P Payments are a great way to do it.
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