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Voice of the Industry Demystifying cross-border payments – history, challenges, and the road ahead Thursday 29 July 2021 07:43 CET | Editor: Raluca Constantinescu | Voice of the industry Dawei Wang, Head of Strategy at Thunes, lifts the hood on international payments and dives deep into the mechanics and the economics of moving money across borders Traditional ways of making cross-border payments  Originally, people transferred money to another country in one of three ways: by carrying physical cash across borders, by using acquaintances or couriers to move the money on their behalf, or by using informal trust-based broker networks (such as hawala) to transfer the money without physical money movement. However, these methods posed problems – they were inefficient, unreliable, risky, and often costly. It took 100 years before major advances enabled effective cross-border payments on a global scale. 

City ofUnited kingdomDawei wangSociety for worldwide interbank financial telecommunicationImperial college londonWorldwide interbank financial telecommunicationThune headStrategy consultantImperial collegeநகரம் ஆஃப்ஒன்றுபட்டது கிஂக்டம்டாவெய் வாங்ஏகாதிபத்தியம் கல்லூரி லண்டன்மூலோபாயம் ஆலோசகர்ஏகாதிபத்தியம் கல்லூரி