×
App Icon
The Standard e-Paper
Informed Minds Prefer The Standard
★★★★ - on Play Store
Download Now

Why SMEs are wary of using cross-border payment platforms

Vocalize Pre-Player Loader

Audio By Vocalize

Online Purchasing Payment E-commerce Banking. [Courtesy, Rawpixel.com]

The possibility of being defrauded and unfavorable foreign exchange rates are some of the reasons why small and medium enterprises (SMEs) are reluctant to utilise online cross-border payment methods.

A new report by payment services provider Mastercard also lists poor customer support and funds taking too long to be received as the other reasons why they shun the mode of payment.

Get Full Access for Ksh299/Week.
Uncover the stories others won’t tell. Subscribe now for exclusive access
  • Unlimited access to all premium content
  • Uninterrupted ad-free browsing experience
  • Mobile-optimized reading experience
  • Weekly Newsletters
  • MPesa, Airtel Money and Cards accepted
Already a subscriber? Log in
Athletics
Adak wants media to report doping issues with precision
By AFP 7 hrs ago
Premier League
Liverpool boss Slot says Salah victim of 'his own standards'
By AFP 8 hrs ago
Football
Real Madrid face Man City, PSG draw Chelsea in Champions League last 16
By AFP 9 hrs ago
Premier League
Arsenal face Chelsea title test, troubled Spurs in spotlight