Fintech Insider Podcast by 11:FS
863. Focus: How to revolutionise cross border payments for businesses in Southern Europe
Jun 5, 2024
Visa Europe's Lynsey Verrillo discusses revolutionizing cross-border payments for businesses in Southern Europe, highlighting challenges and opportunities for innovation. Industry leaders from Viva.com and TeamSystem elaborate on advancing payment solutions for SMEs in the region, emphasizing the importance of education and collaboration for tailored solutions. The role of AI in enhancing network resilience and customer service is also explored, along with the potential impact of digital EU regulations on fintech adoption.
49:35
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Quick takeaways
- Cross-border payments in Southern Europe present opportunities for innovation and disruption, especially for small businesses facing high costs and complexity.
- Partnerships and AI integration are crucial in enhancing payment solutions for SMEs, streamlining processes, and improving customer experience.
Deep dives
Cross-border Payments in Southern Europe: Opportunities and Challenges for SMEs
Cross-border payments present a growing area of innovation with significant disruption and improvement opportunities, especially for businesses in the southern European region dually responsible for the majority of global cross-border payments. Despite the potential, challenges such as high costs, slow processes, and complexity hinder seamless transactions. Small businesses face additional hurdles due to limited resources, making it crucial to enable them for expansion. With SMEs representing a substantial part of the European economy, facilitating access to secure and efficient cross-border payment methods is key to supporting their growth.
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