What makes a Cross-border payment actually work?

Behind every successful cross-border payment is a combination of factors, from payment networks and regulatory frameworks to settlement capabilities and, importantly, local payment infrastructure.

A payment network may connect businesses to dozens of markets, but the transaction still needs to work within the payment ecosystem of the destination market. This makes local payment infrastructure an important link in the cross-border payment journey.

The endpoint of every transaction is still local

Regardless of where a payment originates, its journey ultimately ends at a bank account, e-wallet, card, or local payment endpoint.

However, according to a PYMNTS report, 72% of merchants say that payment failure rates are higher for cross-border transactions than for domestic transactions.

A failed transaction can mean an incomplete order, a seller waiting to receive funds, a supplier waiting for settlement, or a customer losing trust in the payment process.

When global reach does not mean a local payment experience

Each market has developed its own payment ecosystem, shaped by regulations, technology adoption, and everyday payment habits. Therefore, there is no single payment experience that can be applied uniformly across every country.

Brazil is a clear example. Pix has become an integral part of the domestic payment system, driving expectations for instant transactions and high-speed account-to-account transfers. In India, UPI has also become deeply integrated into everyday financial life.

European markets demonstrate an even stronger degree of localisation. BLIK accounts for 63% of e-commerce payment value in Poland, iDEAL accounts for 70% of total online payments in the Netherlands, while 91% of Swedish consumers use Swish monthly.

According to various reports, 82% of e-commerce payment transactions use local payment methods, while 99% of shoppers expect to use a familiar payment method and 94% expect to pay in their local currency.

As these domestic systems become the preferred choice for users, cross-border transactions almost inevitably need to enter these ecosystems in order to move funds into the destination country.

(Source: europeanbusinessmagazine.com)

Globalisation creates scale. Localisation creates relevance.

This is perhaps the most important shift in how we should look at cross-border payments.

Recipients do not see the entire payment network behind a transaction. They only care whether their money arrives at the right place, in the right way, and quickly enough. Therefore, the quality of local infrastructure has a direct impact on transaction completion rates, settlement speed, and the reliability of the payment experience.

That is why the future of cross-border payments does not lie in creating a single payment method for every market. It lies in combining global scale with local relevance: broad enough to connect markets, yet deep enough for transactions to operate through the infrastructure that local users actually trust and use.

Vietnam and the role of local payment infrastructure

In Vietnam, where the domestic payment ecosystem remains relatively fragmented, international businesses seeking access to local users and domestic payment flows also need a sufficiently deep local layer to connect with the broader ecosystem.

This is where payment intermediaries such as 9Pay play an important role. Instead of requiring each business to independently build relationships, integrations, and operational capabilities with multiple components of the domestic payment system, an intermediary layer can help connect cross-border payment needs with local infrastructure in a more efficient and compliant way.

Holding a Payment Intermediary Service License issued by the State Bank of Vietnam, along with a Direct Foreign Currency Receiving and Payment License, 9Pay serves as a bridge connecting global fintechs with the Vietnamese market through comprehensive local infrastructure, supporting two-way payment flows across collection, disbursement, and international money transfers.

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