
With eCommerce growth expected to continue after the pandemic ends, businesses are pressed to support an increasing volume of cross-border transactions. Application programming

This is just one of the key findings examined in The New Singularity: Leveraging API Innovation For Cross-Border eCommerce Growth, a PYMNTS and USEND collaboration. Using a third-party API solution, for instance, users can pay or receive refunds in local currencies directly in apps or via their websites. API solutions also help banks become more agile, more innovative and better able to support customer needs, increasing their potential to provide enhanced, streamlined information sharing and payment solutions.
More key findings from the study include:

APIs ease regulatory woes and help eradicate many cross-border compliance problems. An API solution can provide instant access to critical regulatory information by responding to a specific query and inputting the relevant data. When integrated into banking systems, customer relationship management (CRM) software and other digital platforms, regulatory compliance APIs can deliver automated cross-border compliance at any phase of an eCommerce transaction.
APIs help eCommerce businesses alleviate cross-border payment frictions,

To learn more about how FIs and FinTechs can leverage APIs to support smooth cross-border transactions, download the playbook.
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December 06, 2021 at 04:03PM
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Banks and FinTechs Use APIs to Eliminate Cross-Border Payment Friction - pymnts.com
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