Mastercard’s Post

According to Insider Intelligence Global remittance forecasts, global remittance inflows are set to top $800T. Money transfer operators who lead in secure remittances are more likely to attract and retain customers than industry laggards. At Worldpay, we're privileged to work with a wide range of financial services firms that can facilitate your business growth. If you're looking to expand your remittance reach and are having difficulty accessing a market, then please DM me. We support disbursement to 180 countries with 135 currency options, making it easier for you to expand your business and reach new markets. Let us help YOU achieve YOUR business goals. #remittances #financialservices #globalreach

The second chapter of our Mastercard Move: Money In Motion series explores how quick, convenient payments rooted in choice are crucial for furthering inclusive economic growth across the Asia Pacific region.  #MastercardMove #MoneyMovement #financialinclusion#payments

For businesses looking to diversify and innovate, mastering the art of transacting with China's SMEs is critical. It can be a complicated, expensive and slow process – but it is essential for anyone looking to expand their business globally in the near future. Mastercard's 2023 Borderless Payments Report indicates that 87% of Chinese SMEs are planning on doing more business internationally in the future. Are your clients equipped to transact with those suppliers, services and potential customers? Conduit makes the entire process seamless, with a single payments dashboard that enables cheaper, faster and simpler cross-border payments. Find out more here: https://www.conduit.fi/ #payments #chinamarket #globalpayments #crossborderpayments

Capping my series of posts on Domestic Payments is to articulate the changes that are impacting this space globally. 10-15 years ago, these were happening in pockets, wherein leading markets were making changes in their own, hoping to solve for their own problems in isolation. Today, all these changes are happening in parallel, where leading markets are enjoining others to follow their lead and work faster towards a globally connected ecosystem. Real Time Payments are fast becoming the norm for a dynamic, progressive and resilient economy. Learning from the pandemic, where digital payments have helped sustain economic activity, more and more pre countries have realized the systemic importance of a real time payments system. With payments will come enhanced information, a critical enabler of fast, transparent and accessible payments. The coordinated shift to ISO20022 will help realize the promise of interoperability and transparency. This will also enable cross border connectivity. Open Banking will open the door for more innovation, outside of the banking system and truly deliver inclusive progress and prosperity, especially for a country like The Philippines that still has a long way to go with financial inclusion and digital penetration. Lastly, it is important to spend some time to focus on resiliency, especially in a country where natural calamities can happen any time, and where it is important to protect the supply chain. As countries work towards common goals, I have no doubt that we will see significant changes in domestic payments over the next 5 years, with the help of our stakeholders and everyone in the financial services community. #domesticpayments #globaltrends

Swift is advancing its mission on cross-border payments, aiming to meet the G20's goals for improving international payment systems. https://ow.ly/wOzu50QXInY #crossborderpayments #internationalpayments #wirepayments #fintech #forex #currencyexchange #financialinstitutions #banking #g20

Exciting insights from the The Payments Association's latest whitepaper, "King for a Day: Charting the Future of Cross-Border Payments." 🌐 Despite significant progress in domestic payments, cross-border transactions remain costly and outdated, hindering financial inclusion. 🌍The report emphasizes the need to shift focus from legacy regulations to tech-driven solutions, advocating for adaptable, rules-based systems bridging diverse regimes. 💡Rasika Raina of Mastercard highlights the real competition: outdated technology. Gary Palmer from Payall stresses the urgency of aligning cross-border payments with the rapid technological transformations seen in other aspects of our lives. 🌟 A must-read whitepaper challenging the status quo and presenting new paradigms for a tech-infused future in the $156 trillion cross-border payments sector. 💰💻 #paymentsinnovation #crossborderpayments #fintech

Unlock the Future of Cross-Border Payments with MG's Insightful Whitepaper! 🚀 Dive into a world of opportunities as we analyse the key factors propelling the cross-border payment industry to new heights. Our whitepaper explores cutting-edge trends and opportunities that promise to revolutionise international remittance. Don't miss your chance to be at the forefront of the next big wave in global finance. Read our whitepaper now and accelerate your journey into the future of cross-border payments! https://lnkd.in/ggpCMPbN #fasterpayments #openbanking #crossborderpayments #globalpayments #internationalremittance #paymentsinnovation #paymentsolutions #fintechinnovation #fintech #netremit #macroglobaluk

The future of remittances in Latin America: Digitalization, multiple rails, and the strategic role of partnerships via Mastercard X Payments and Commerce Market Intelligence 🌎 Did you know that in 2022, remittances to Latin America reached a staggering💲146B? Discover how digitalisation, multiple rails, and strategic partnerships are reshaping the remittances landscape in Latin America. Uncover a $155B opportunity and learn about the solutions that Mastercard is offering to address industry pain points 👇🏽. 🔑 Key stats from the report: ▪️ Global digital remittances' market share exceeded 50% for the first time in history in 2023. ▪️ Remittances can represent over 30% of the national GDP for impoverished countries. ▪️ The US–Mexico corridor is the world's largest remittance pipeline, with a volume of US$56 billion in 2022. ▪️ Cash still accounts for nearly 50% of global remittances, posing challenges and costs. ▪️ The average cost of sending remittances in 2022 was 6.3%, above the United Nations' target of 3%. Read the full report and unlock the future of remittances in Latin America here ➡️: https://lnkd.in/g5rUw8T6 #fintech #digitalfinance #digitalization #remittances #LatinAmerica

For payments, borders don't exist! Fast, secure, and affordable - that's how modern cross-border payments should be. These payment types are now one of the foundations of global trade and service exchange, so it's worth delving into them including exploring their strengths and potential weaknesses. Unfortunately, many of them don't meet mentioned conditions. The threat of cyberattacks and theft remains one of the biggest issues affecting both consumers and companies 💳 As much as 76% of customers reported that due to a delayed transaction, they were left without the means to live 🛒 This is particularly crucial in the context of cross-border payments - everyone can easily imagine a similar situation while traveling or living abroad. That's why so many efforts from ours and other fintechs are aimed at eliminating risks. Remarkable successes have already been achieved in this field, so we look to the future with optimism and hope. An increasing number of SMEs are opting for a global business model. In international collaboration, swift payments are a matter of both brand image and security. That's why this sector is particularly important to us 💡 You can find more information on this topic in the linked article ⬇️ #mastercard #payments #digitalpayments