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Banks may not like it, but the demand is here for faster payments — from businesses, consumers and regulators alike. While they’re apprehensive about the technology, financial institutions are facing pressure to adopt real-timepayments capabilities to meet that demand and to comply with new regulations.
.” “We are on a mission to make it easier for people to use cryptocurrency in real-world payment scenarios and our partnership with Ingenico will go a long way to bringing crypto out of the web and increase its adoption as a powerful paymenttool,” added Eric Anziani , president and COO of Crypto.com.
Mastercard launched Move Commercial Payments , a real-time cross-border payments solution that operates 24/7. The new commercial paymentstool leverages a multi-rail system that includes SWIFT, Visa Direct, and Mastercard’s proprietary networks. Photo by Lea L on Unsplash
As these ecosystems of integrated workflows, technologies, corporates and their financial service providers continue to evolve, the mindset of how to tackle friction in cross-border B2B payments will similarly shift, but not without overcoming some hurdles first.
The enterprise is still unsure about faster and real-timepayments. With companies paying suppliers on strategic schedules, real-time transactions aren’t always necessary — or beneficial — for the B2B payments space. Yet there is some adoption of faster payment technologies among corporates.
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