really excel in their approach . At UniTeller , we make a deliberate effort to understand and learn from their business models and how they portray their services to their customers .
Q . COULD YOU DESCRIBE UNITELLER IN 25 WORDS OR LESS ?
» We are a leading global cross-border payments service provider with state-of-theart technology , advanced digital capabilities , and a robust compliance platform .
Q . WHAT ARE THE BIGGEST FRICTIONS THAT EXIST WHEN CONSUMERS MOVE MONEY ACROSS BORDERS ?
» There ’ s still a lot of work that needs to be done to achieve frictionless global crossborder payments .
Even within the realm of very large corporate payments , it ’ s astonishing that in certain cases , the process extends beyond two or three days . There ’ s still a lot of interdependence of banking networks , structural intricacies of different banks , and liquidity issues around making these payments in real-time . This is still a big challenge that has yet to be overcome .
At times , these types of payments lack transparency with regards to fees and payment times . Fortunately , for low-value payments , we ’ ve witnessed significant improvement . There are several emerging fintechs , including UniTeller , that are actively improving user experience by facilitating more transparent and real-time crossborder payments .
However , there are still challenges that persist since not all payment networks are built to deliver the value of realtime payments . Despite the presence of companies like UniTeller and others that provide access , the ultimate delivery of payments still hinges on the efficiency of the last-mile infrastructure . Regrettably , in some countries , this final leg of the journey isn ’ t adequately equipped to deliver such payments . We ’ re engaged in discussions with multiple business partners in different countries to ensure that we can have a seamless experience in a wider range of countries .
Q . DO YOU THINK B2B PAYMENTS STILL LAG BEHIND B2C ?
» I believe that the B2B sector is experiencing improvement and catching up . In B2B , especially on the higherticket transactions , liquidity for real-time payments is a problem to solve . For instance , if your company provides these services and needs to make a payment
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