Businesses send more than $155 Trillion in cross border payments annually - the total cost on these transactions is in excess of $200 Billion*. This creates an overlooked opportunity where businesses rely on fragmented systems that are hard to navigate due to complex global regulations and no ownership of the end-to-end experience. International payments touch an average of five banks which is highly inefficient; they are costly, time-consuming, and require manual processes like emails, paper trails and phone calls. Moreover, companies and individuals making international payments often have little visibility of transaction status, delivery times, or costs.
With this launch, Euronet is changing the game for cross-border payments, leveraging the modern financial infrastructure it has built for its own use and making it available to other companies as the foundation for seamless global payments with a frictionless experience and instant, unlimited access to one country or the whole world. Dandelion offers the payments infrastructure that FinTechs and companies across countless industries have needed to enable rapid global expansion – and we know it works, because we use it ourselves.