Experts have noticed recently that global trade is not growing. An I.M.F. study calculated that a 1 percent increase in global growth increased trade volumes by 2.5 percent in the 1990s, while in recent years, the same growth has increased trade by just 0.7 percent.
Ripple Insights discussed what this shift means with Joakim Reiter, Deputy Secretary-General of the United Nations Conference on Trade and Development.
Joakim Reiter comments "Think of trade as a complex, precise machine. Payments are the lubricant to that machine. It allows the pieces to move in close proximity to one another and keep moving. The machine is changing, and when the machine changes, the lube changes."
One brand new global payments specialist, based in Sydney Australia, is Flash Payments. This cutting edge fintech startup is engineered from the ground up to deliver intelligent foreign exchange transfer services.
Flash Payments provides fast, secure and very competitive foreign exchange transfer services as an alternative to the existing opaque, siloed and inefficient banking networks.
Using the innovative Ripple technology platform and XRP, Ripple's digital currency, Flash Payments delivers extraordinary control to users.
Front and center is an exceptional user experience, without "hidden fees".
Built on a common global infrastructure and bringing new efficiencies to financial remittances by enabling near real-time settlements, the technology tightly integrates payments messaging with funds settlements, allowing for unprecedented visibility and transparency.
With Flash Payments you send funds like an email, track transfers like a package, and you are never surprised by hidden charges. There are none.
If you want to make a positive difference, skip the banks and take back control. Choose Flash Payments for your foreign exchange transfers.