A couple of days ago, I saw a news story about A7, a Russian fintech company, launching a new service in Mumbai: buyers pay overseas invoices in USDT, while suppliers don’t need to open a crypto wallet—the money goes straight into their bank accounts in US dollars, euros, Chinese yuan, or UAE dirhams. From January to August this year, the volume of payments it processed to India was already 60% higher than the total for all of last year.
It reminded me of the hassles of receiving payments from overseas: the other party says they’ll pay in U, and I have to verify the network, address, and amount. If the exchange rate changes, I have to recalculate everything.
Now I usually use PayAll to accept payments: I generate an invoice with the amount and currency fixed, and the exchange rate is locked for 15 minutes. Once the other party pays, the payment is automatically matched and credited. A refund address is required when the invoice is created, so if they pay by mistake, the original currency can be returned without any back-and-forth afterward. They pay in U, and I receive the currency I’ve set— the platform never handles the funds.
Receiving cross-border payments is shifting from “only people who know how to navigate the hassle can do it” to “anyone who can send a link can get paid.”
$USDT #稳定币 #Cross-border payments
It reminded me of the hassles of receiving payments from overseas: the other party says they’ll pay in U, and I have to verify the network, address, and amount. If the exchange rate changes, I have to recalculate everything.
Now I usually use PayAll to accept payments: I generate an invoice with the amount and currency fixed, and the exchange rate is locked for 15 minutes. Once the other party pays, the payment is automatically matched and credited. A refund address is required when the invoice is created, so if they pay by mistake, the original currency can be returned without any back-and-forth afterward. They pay in U, and I receive the currency I’ve set— the platform never handles the funds.
Receiving cross-border payments is shifting from “only people who know how to navigate the hassle can do it” to “anyone who can send a link can get paid.”
$USDT #稳定币 #Cross-border payments