The future of cross-border payment: Traditional vs digital
- Africa is experiencing a rise in regional real-time payment infrastructure, shifting the tide of global remittances.
- The largest remittance corridors in Africa include transfers between Cameroon and Nigeria, Niger and Nigeria, and South Africa and Zimbabwe.
- Verto, a single digital platform, offers streamlined services with lower fees and more favorable exchange rates compared to traditional banks.
The rise of digital payment systems and the emergence of platforms like Verto offer significant advantages for businesses, particularly SMEs, dealing with international clients. By providing streamlined services, lower fees, and more favorable exchange rates, Verto allows SMEs to focus on growth and financial planning. This shift away from traditional banks is a positive development for businesses in Africa, as it reduces costs and improves efficiency in cross-border transactions.
