December 27, 2015
Mike Massaro, CEO of Flywire (formerly Peer Transfer) shared his thoughts on what the future holds for large cross-border payments.
Flywire is a leading provider of high-ticket, cross-border payment solutions, connecting institutions on six continents with consumers from around the world. Convenient, fast and secure, Flywire’s scalable cross-border platform accepts bank transfers, online banking and credit/debit cards—providing currency conversion at exchange rates that can offer significant savings when compared to home-market banks and credit card providers.
Here are some highlights:
Emergence of a new global citizen demographic:
Today, there are more people transacting across borders in larger sums than ever before. This group does not consider borders in terms of lifestyle, access or travel. They spend more on goods and services outside of their home country and are driving an increase in the number and size of cross-border payments—whether it’s on education for their children, medical care, real estate or other offerings.
Increasing preference for digital channels for large cross-border payments:
As the number of large, ...