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New Delhi [India], September 6 (ANI/GPRC): The recent 'Essential Payments Transformation' report released by NIUM in August 2022 highlights the need for a 'Global by Default' approach to modern money movement. As part of the report, NIUM- the global platform for modern money movement- spoke to 172 business leaders and summarised that global businesses have unfortunately been relying on a fragmented patchwork of solutions to move money. 89 per cent CEOs say that streamlining payments is key to competitive advantage. Modern money movement can help accelerate growth, maintain competitive advantage, and retain market share in the future. The way the world works and moves money has changed irreversibly. Hence, the highly fragmented global payments network is a hot C-suite discussion topic. Even though business has already become global, money is still controlled, regulated, and moved differently according to geography. Add to this, the risk of fraud, money laundering, and fu ....

New Delhi , Essential Payments Transformation , New Delhi India , Eptember 6 Ani Gprc The Recent 39 Essential Payments Transformation Report Released By Nium In August 2022 Highlights Need Fora Global Default Approach To Modern Money Movement As Part Of , Ium The Global Platform For Modern Money Movement Spoke To 172 Business Leaders And Summarised That Businesses Have Unfortunately Been Relying Ona Fragmented Patchwork Of Solutions Move 89 Per Cent Ceos Say Streamlining Payments Is Key Competitive Advantage Can Help Accelerate Growth , Aintain Competitive Advantage , Nd Retain Market Share In The Future Way World Works And Moves Money Has Changed Irreversibly Hence , He Highly Fragmented Global Payments Network Isa Hotc Suite Discussion Topic Even Though Business Has Already Become , Oney Is Still Controlled , Nd Moved Differently According To Geography Add This , He Risk Of Fraud , Money Laundering , Nd Funding Illegal Activity Means That Global Money Movement Is One Of The Most Scrutinised Activitiesa Business Can Perform Any Institution Must Demonstrate Compliance And Accountability Within These Rules In Each Territory To Be Allowed Operate Move Understand How Severely Issue Management Discussed Boardrooms , Iuma Platform That Holds Licenses And Authorisations In Over 40 Countries Spoke To 172 Top Business Leaders Integrated Their Views Into The 39 Essential Payments Transformation Report Nium , A Platform That Businesses Can Connect To And Payout In More Than 100 Currencies Over 190 Countries , Perates Ina Very Competitive Market There 39s Paypal , Tripe And Payoneer On The One Hand Other Small Business Facilitators Such As Freshbooks Pleo Growth Adoption Of Platforms Arises From Concerns Ona Broad Range Issues Relating To Global Payments When Evaluating International Expansion While 78 Per Cent Ceos Are Concerned About Ineffective Cyber Security Fraud Risks Or Checks , 3 Per Cent Are Concerned About Operational Inefficiencies , Nd 70 Per Cent Are Concerned About Coordinating Payments To Contractors Vendors Customers Across Multiple Countries The Survey Also Showed That 45 Of Business Leaders Cited Accelerating Digital As Top Driver For Payment Transformation , Ollowed By Growing Revenue 44 Per Cent , Educing Cost 40 Per Cent , Nd Better Compliance 40 Per Cent Among Other Factors The Report Also Highlights That 89 Of Businesses Believe Streamlining Payments To International Independent Contractors Is Essential Gaina Competitive Advantage While 65 Plan Build Their Own Custom Payment Platforms , Ither By Engaging An It Firm Or Building Internally To Increase The Performance , Nd Efficiency Of The Business , 9 Per Cent Of Businesses Said That Building And Maintaining Their Own Payment Systems Is Burdensome This Contradiction Possibly The Highlight Report Summing Upa To Builda Sustainable Future Long Term Success , Usiness Leaders Today Acknowledge The Immense Value Of Easy Payments Across Bordersb Most Businesses Rely On Intermediaries To Manage And Control Payment Flows ,