What are the main means of cross-border payments

Cross-border payment is different for each country and region.

Europe and the United States are mainly paypal and credit cards, these are more common. Southeast Asia as well as Latin America is more complicated, these places with paypal settlement is very ink, coupled with the policy issues of each country, it is difficult to complete the payment settlement in a short period of time. Credit card payments in these regions account for about 70% of all payment markets, but the number of people with international credit cards only accounts for 20% of this, so the most important payment methods are credit cards that support local currency transactions in these regions. Choosing a payment channel that supports local currency credit card transactions is an important part of penetrating the Southeast Asian and Latin American markets.

From the example of Brazil, the issuing organizations of Brazilian local currency credit cards are divided into VISA, MASTERCARD and other such international credit card organizations, and also include ELO, HYPERCARD and other such local credit card organizations, and at present, from the perspective of the whole market, only Pagsmile, the cross-border payment platform of W3C, supports all the Brazilian local currency credit card types, as well as the credit cards issued by major Brazilian banks themselves. and credit cards issued by major Brazilian banks themselves.

If you are doing foreign trade, or if you are an overseas company, it is very important to choose the right payment method, otherwise it will take 3-5 days to settle the bill, which is really a headache.