How are you all I hope you are well by the infinite mercy of the Most Merciful Creator.  Today we will discuss What are the benefits of using cross-border payments?I will try to make a short informative discussion today.

[Source](https://www.pexels.com/photo/bitcoin-coin-on-background-of-business-charts-7788006/)
There are many advantages to developing a cross-border payment strategy:
Cross-border payments enable merchants to capitalize on the rapidly growing global cross-border B2C e-commerce market, which is estimated to be worth $4,195.4 billion by 2027.
Cross Border payment options allow for a more personalized customer experience by enabling merchants to present customers with a choice of their popular regional payment methods.
Most cross-border payment platforms are mobile-enabled, so merchants can invoice suppliers from any device and any location;  Intelligent scheduling makes it so that merchants can schedule invoice payments.  These capabilities enable merchants to expand their supplier and affiliate base — in addition to their customer base — globally.
Cross-border payment systems process domestic and international money transfers using a single platform, increasing accounts payable efficiency and transparency.

[Source](https://www.pexels.com/photo/holding-golden-shiny-bitcoin-coin-8370780/)
Cross-border payment platforms enable merchants to connect with multiple acquirers, including local acquirers, resulting in higher bank approval rates, lower exchange costs and greater risk diversification.  In fact, merchants using multiple acquisitions have a 16 percent higher acceptance rate than those using a single acquisition setup.
Cross-border payments enhance merchants' ability to customize authentication and fraud rules using configurable workflow and risk management options.
The upcoming global adoption of ISO 20024 will create international cross-border message standards and increase the efficiency of cross-border payments.
Today's discussion ends here.  I hope you find it interesting and understandable.  Share your thoughts on today's topic.  Greetings and blessings to all.  Stay well everyone, stay healthy, stay tuned to Steemit.