Cross-border payments can be rough seas for any company. Data suggests SMEs in particular are struggling to grow internationally because they fear the consequences of a lack of expertise and knowledge in going global, but corporates of any size expose themselves to new risk when entering new markets.
The challenges are vast, from being able to reach customers in an unfamiliar territory to running afoul of local regulations. But transacting across borders is one of the largest challenges, especially when it comes to paying overseas suppliers.