As instant payments proliferate world-wide, a new white paper from global payment technology experts RS2 cautions banks to get smarter about optimising their foreign exchange (ForEx) strategies.
Data from Capital Monitor reveals[1] foreign exchange can carry costs of between 2.5% and 3.58% on average, depending on the currency pair.
As cross-border instant payments using cards become the norm over the next five years, banks will need to better manage ForEx to avoid excessive costs.
[1] Capital Monitor White Paper
The post In an instant world, banks need to manage ForEx better appeared first on Payments Cards & Mobile.