More than four in ten respondents believe that better payment interoperability would most benefit instant cross-border payments, highlighting both the need for improvements and vast opportunities in this segment.
A recent poll conducted by Thunes, a fintech company specializing in global payment infrastructure, revealed that 44% of those surveyed believe instant cross-border payments have the greatest opportunity to benefit from improvements in payment interoperability.
It illustrates the clear demand for faster, more seamless global money movement, as cross-border payment infrastructures remain fragmented, impacting the speed and cost of international transactions, as well as ease of their integration.
Other perceived opportunities were divided among financial inclusion (22%), SME global growth (19%), and scaling digital platforms (14%).
Seamless payment interoperability means people in underserved regions could access global money flows more easily, whether through mobile wallets, local banks, or digital platforms. It reduces reliance on cash, cuts transaction costs, and connects unbanked populations to affordable financial services, thus boosting financial inclusion levels.
With smooth bilateral or multilateral integrations of various payment networks and systems, small and medium-sized businesses could expand internationally without facing the high costs and delays of traditional cross-border transfers. Faster, cheaper, and interoperable payments would give SMEs access to new markets and global customers with far less friction.
Digital platforms like e-commerce, gig economy apps, and super-apps could integrate multiple payment methods across regions in a unified way. This would help them onboard more users, improve checkout experiences, and scale operations globally without fragmented systems slowing them down.
