Digipay Guru

  In the digital financial industry, cross-border payments are among the fastest-growing markets. In the year 2023, global remittance transactions were valued at around $840 billion. It reflects the growth and pace of this industry.   As we are observing tremendous growth in the market of cross-border payments, international remittance providers are also constantly looking for cost-effective solutions for reducing remittance costs. If they can get cost-effective solutions, they will be able to provide affordable services to their customers.   A cost-effective strategy can resolve major cross-border issues and help your business get a competitive edge in this industry. Thus, in this article, we will go through the significant challenges in international remittances, how a cross-border remittance solution can elevate your business, and much more.   Significant Challenges in the International Remittance Industry Businesses with international operations face multiple ch...

  The world is increasingly moving towards digitization. Every second traditional business that requires face-to-face meetings is now being replaced by a digitization method. Technology is taking over, and it’s making things much easier and faster. One of the most important areas where this digitization has played a very essential role is traditional KYC. In the past, verifying a customer’s identity meant a lot of paperwork and manual checks. It was slow, expensive, and could be risky if something was missed. But now, with eKYC, everything is different. It has made the whole KYC process faster, safer, and efficient. Here are the top 5 benefits of eKYC solutions for your business: 1. Faster and More Efficient Processes With eKYC everything is automated and digital. Customers can easily upload their information online and businesses can easily verify their customer's identities within minutes. All this has become possible because of the adoption of advanced technologies like AI, mac...

  Near-field communication (NFC) technology has emerged as a popular means of quick, contact-free financial transfers in the fast-evolving world of digital payments. For example, including NFC payments in these systems is becoming more common as companies and consumers move to digital wallets or e-wallets.  However, like any other technological device, there are advantages and disadvantages to incorporating NFC payments into your eWallet Payment System . A.   The Pros of Integrating NFC Payments Here are the benefits that you can unleash after integrating NFC Payments into your business process: Convenience and Speed One of the main benefits of using NFC and QR code payment systems is their convenience. An NFC-enabled device only takes a quick tap on the phone or smartwatch near the payment terminal for one to transact.  This eliminates the need for physical cards or cash during transactions, thus making payment more manageable. This also enhances customer experienc...

  Today, businesses aren't confined to operating within a single country. With the rise of global trade and e-commerce, businesses are increasingly conducting transactions across borders and expanding their reach. According to a study, global cross-border payments will reach to whopping $290 trillion by 2030. Furthermore, global migration and the post-pandemic resurgence in trade have increased the demand for efficient cross-border payments. According to the World Bank, SMBs are vital to the global economy, representing nearly 90% of businesses and over 50% of employment worldwide.  As per research, the cross-border business payments market offers a nearly $6 trillion opportunity, which could benefit over 80 million underserved SMBs. Let's learn about the opportunities for cross-border payments for small businesses.  The Growing Need for Cross-Border Payments As the world becomes increasingly interconnected, small and midsize businesses are engaging more in international ...