Insights year: 2023

In today’s digitally-driven world, the way we send and receive payments has undergone a radical transformation. Legacy payment modes such as cash and checks have been almost entirely replaced by electronic transactions as well as payments via cards and digital wallets. Considering this paradigm shift in payment mechanisms, the significance of building and sustaining an… Continue reading What is the role of program management in building payments infrastructure?

There is no doubt that globalisation has been an incredible driving force in recent decades, powering businesses to transcend national and international borders. But the benefits of globalisation are also accompanied by certain responsibilities such as the need to comply with local laws. Without comprehensive compliance, it is merely a matter of time before any… Continue reading Why AML risks must be countered with product innovation and tech-led measures

Propelled by rapidly changing consumer demands, digital wallets have emerged as one of the fastest-growing financial tools for both individuals and businesses. Considering the ubiquity of mobile phones, digital wallets offer a wide range of digital-first capabilities that bring ease of use, transparency, and an enhanced user experience. As digital wallet users keep increasing, their… Continue reading Digital Wallets: Transforming Cross-Border Payment Solutions

It’s common knowledge that both opportunities and challenges are two sides of the same coin. The countries in the WCA region exemplify the concept of opportunities and challenges being two sides of the same coin. On the one hand, there are significant opportunities, such as rising economic expansion and an improving entrepreneurial landscape. On the… Continue reading Building Payments Infrastructure in West & Central Africa

According to industry predictions, real-time payments (RTP) represent the future of the evolving payments ecosystem. Influenced by the pandemic, RTP’s share of transactions doubled in the US in 2020, as reported by ACI Worldwide. By 2025, the report estimates that RTPs will have a CAGR of 43.4% with 6.2 billion extra transactions.¹ Similarly, as per… Continue reading How Instant Payments Are Shaping Remittances in North America

Be it overseas workers, globe-trotters or expatriates, every cohort relies on cross-border remittances to either send money back home or receive funds from their family. But understanding the intricacies of cross-border remittance payments is essential for both individuals and institutions undertaking international monetary transactions. In this blog, we will explore the fundamentals of cross-border remittance… Continue reading A Guide to Simplifying Cross-Border Remittance Payments

Latin America is one of the most exciting regions to follow for innovation in the financial sector and the emerging fintech ecosystem. Updates to infrastructure through open banking initiatives, embedded finance, Banking-as-a-Service (BaaS), and more are helping to bring payments and banking to those underserved by the existing financial system. Even today, 58% of PoS… Continue reading How Digital Payments Enhance Financial Inclusion in LATAM

Technology and innovation have provided an incredible impetus to digital transformation in Latin America’s payment industry. With a total addressable market of over 600 million consumers that generates close to $6 Trillion of the GDP, Latin America has opened doors for exciting opportunities in the payment industry. This is where TerraPay is exhibiting its innovative… Continue reading What are the key challenges faced by the LATAM payments industry and how can we address them?

In a global economy, the ability to make borderless payments is essential for businesses and consumers alike. Moving money successfully across borders is fundamental to international commerce as it drives and sustains economies in developed and emerging markets. Cross-border payments are the oil that keeps the globalization machine going. As the world becomes more connected,… Continue reading Solving the cross-border payments puzzle

Worldwide, as steps are underway to boost financial inclusion, the measures are benefitting millions of underbanked people. Finally, underserved cohorts are gaining access to savings accounts, investments, loans, and other financial products. To achieve an objective based on user convenience, technology is being used to drive financial inclusion across all geographies, including remote regions. Financial… Continue reading How Tech is Driving Faster Financial Inclusion Worldwide