Local payments are a cheaper alternative and sometimes faster alternative to sending a wire or swift payment.
We wrote a blog about this sometime ago, that you can read here.
Local Payments are transactions processed using the local banking infrastructure of a specific country, such as ACH in the USA or SEPA in Europe.
They offer significant cost savings and faster processing times compared to international payment methods like SWIFT. However, they may have a higher fraud risk and lack standardized receipts. Local payments are ideal for frequent, smaller transactions or intra-company transfers, while SWIFT is recommended for large B2B transactions.
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