word
Cross-Border Payment
kros BOR-der PAY-munt
/krɒs ˈbɔːrdər ˈpeɪmənt/Listen
Hear it in a clear American voice. Slow it down to catch each syllable.
Syllable breakdown
crossborderpayment
Dictionary meaning
A financial transaction in which the sender and recipient are located in different countries, requiring currency conversion, compliance with multiple regulatory regimes, and often passage through intermediary correspondent banks; historically slow and expensive, cross-border payments are being transformed by fintech, blockchain, and real-time payment networks.
Examples
- The startup cut cross-border payment fees by 80% using a blockchain-based settlement layer.
- Traditional cross-border payments can take up to five business days and incur fees at each correspondent bank.
Synonyms: international payment, international wire transfer, overseas remittance
Learn one new pronunciation a day
Get a word, name or idiom like “Cross-Border Payment” in your inbox — daily or weekly, free. Unsubscribe any time.
Something wrong? Suggest a correction