Why SMEs are wary of using cross-border payment platforms

The Borderless Payments Report 2023 notes that SMEs prefer to make cross-border payments online rather than using in-person methods.

"Usage of digital apps has increased the most significantly since 2021, up six percentage points, with the greatest growth coming from the UAE (up 27 per cent ) and Canada (up 13 per cent)," the report says.

According to most respondents,...