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Wise, the global technology company building the best way to move and manage the world’s money has been granted direct access to InstaPay, the Philippines’ real-time payment system, and can also directly settle with the Bangko Sentral ng Pilipinas’ (BSP) real-time gross payment system, PhilPaSS Plus.
Alongside enhancing the service it offers millions of its own customers, the move also benefits millions more users of some of the world’s largest banks and financial institutions, such as Bank Mandiri , which offer their customers internationalpayments through Wise Platform. per cent. .
That can be a logistical challenge for businesses making payments in currencies deemed exotic, defined as belonging to emerging economies in, say Africa, Asia and the Middle East. Internationalpayments can be an expensive proposition where liquidity is scarce, and spreads and FX fees are high. as a middleman to transact.
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