What are the challenges with cross-border payments?

05 Nov 2022

The Committee on Payments and Market Infrastructures (CPMI) determined in 2018 that there was "definitely potential to strengthen" cross-border payment system infrastructure. Cross-border transfers certainly include greater risks, complications, and constraints than domestic payments, according to the group, but the difference can often feel disproportionate.

Since then, several banks and other financial organizations have taken attempts to close the gap, although many cross-border payment systems continue to face the same challenges:

• Expensive
• Transactions that are slow
• Concerns about security
• A lack of openness

Customers can find a high-quality cross-border payment solution on PayCEC. Specifically, PayCEC is completely PCI DSS certified , which is the highest level of PCI Security Standards organization (Visa, MasterCard, American Express) accreditation, requiring the gateway to be tested and upgraded on a monthly basis. PayCEC helps merchants enhance business outcomes by offering them a business management page where they can log their transactions, dates and hours, income, and so on. Finally, a premium support team is available 24 hours a day, seven days a week to listen to and resolve any problems that may arise during your PayCEC experience.