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Unlimint’s ingenuity with cross-border payments

(Source: Supplied)

The internationalisation of trade and investment is a trademark of our hyper-connected world. Aided by mass digitalisation, businesses are increasingly revamping their processes by adopting globalised digital tools, especially cross-border payments.

Ensuring frictionless transactions everywhere, these payment channels are vital for businesses to cope with evolving demands arising from rapid globalisation, alongside safeguarding their cash flows – especially when guarding against unprecedented global events.

Across Asia, the fintech space has witnessed significant technological progress, owing to the ever-growing preference for digital payment methods among societies. Systems required for overseas remittance and international e-commerce have even pushed Asian banks to invest in building multi-country linkages that enable instantaneous global transactions. Moreover, the surfacing of new financial standards, such as the ISO 20022, is also catalysing strong, borderless payment adoption across the continent, moulding Asia as a highly promising market for cross-border payments.  

Akin to a “corporate passport”, cross-border payment features can release Asian businesses from the physical constraints of purely domestic transactions. They are a crucial tool for international expansion – especially given the current e-commerce boom – as they greatly enhance customer shopping experiences. Cross-border payments can also be a conduit for global payment partnerships, where businesses can leverage connections with multinational FinTech companies, digital banks or overseas bank merchants to strategise their international expansion.

The knowledge of these promising opportunities spurred Unlimint’s innovative approach to its cross-border features. Capitalising on the interoperable nature between digital payment platforms and e-commerce sites, Unlimint doubled down on its technological direction to integrate its digital payment technologies with the widely known messenger platform, Telegram.

Leveraging the app’s encrypted nature, Unlimint effectively heightened the financial security of transactions made through the platform. Additionally, the global reach of Telegram further enables sellers and buyers to join the flourishing e-commerce economy while also revealing new revenue opportunities for businesses everywhere. 

“At Unlimint, we take a multidirectional approach to cross-border payments. By leveraging our acquiring licenses and capabilities within and beyond the Asia Pacific, we support the region’s merchants with payment processing worldwide at lower interchange rates – essentially helping them expand globally at a fraction of the cost,” said Irene Skrynova, chief customer officer at Unlimint. 

“Our role as a payment partner involves streamlining local payment setups into a single infrastructure while offering innovative payment options such as crypto, e-wallets and integrated messengers. With our solutions, we plan to make expanding one’s international outreach a seamless experience.”