Technological innovations and globalization have expanded the reach of international companies and boosted trade volumes. It is no surprise to see a rise in international money transfers and demands for such services. Hundreds of thousands of international payments take place every second for business-to-business payments. According to the world trade organization, global trade and international e-commerce transactions have already crossed 15 trillion dollars.
As the digital race heats up between the service providers of international money transfers, the transfer services are only attracting more competition and online channels across the world. Thus, one is witnessing new systems integrations, partnerships, and cross-border functionalities in the industry along with regulatory advances.
