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Lowering international payment costs in line with the huge flows from e-commerce is vital, says Westpac. Being AML and KYC compliant equally so.
Blockchain is widely touted as a tool that will save banks billions, but savings on payments and settlements will give treasurers leverage to demand cost cuts.
Qoo10, a joint venture between eBay and the founder of Korean company Gmarket, needed a more efficient way to process its high volume payments.