CrossBorderPaymentRails are platforms that enable businesses to send or receive money transfers payments from and to any individual or company anywhere in the world.
A cross-border payment system (CBPS) is any system used to settle financial transactions through the transfer of monetary value from one country to the next. CBPS relay on domestic payment systems. A CBPS includes the institutions, instruments, rules, procedures, standards, and technologies that make the transfer of funds from one country to another, possible. If you are facing the public – a person, a business entity, whether you are in the sending side or receiving side, you need a large array of payment processors, payment bridges, along the way. You need a technology solution, a bank, a payment processor, a payment gateway and a number of components in the ever-evolving chain of payment solutions. Payment platforms are now integrating a number of payment solutions in one package such as mobile wallet providers to RaaS services. Aggregators are offering the interconnection with hundreds of distribution networks. There are so many country-specific and product-specific systems that it is quite remarkable what the industry achieves. Payment Protocols are being developed, such as Blockchain, that challenge established protocols and/or interoperates with them. Interoperability is now the name of the game.
For the Cross-Border Money Transfer & Payments Industry, is most of the time difficult to put all the elements of a successful, efficient and secure payment system together. At Mohr World we can listen to your goals, discuss your needs and help you build the payment chain that suits your needs and aligns with your goals. Talk to us.
If you are a payment facilitator eager to serve the Cross-Border Money Transfer & Payments Industry, reach out. We can introduce you to companies in this sector that need your solution and are eager to use your services. Talk to us.
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