Globally, Asia has a higher level of interoperability and is a leader across a host of payment methods such as QR codes, but the region remains “extremely diverse”, according to FXC Intelligence.
SC has become the first foreign bank in the offshore market that can participate in the global clearing platform for Rmb with two large Greater Bay Area-based firms taking part in the launch.
A global survey by Swift into the low value cross-border payment market has highlighted the importance of security and the adverse impact of hidden fees.