Expert Calls for Faster Cross-Border Payment Systems to Boost Global Financial Inclusion

Funmi Ogundare 

As cross-border payment systems are becoming increasingly vital to economic growth and financial inclusion in today’s interconnected world, a fintech expert, Kingsley Madu, has called for faster, more accessible and efficient international money transfer infrastructure to support businesses, migrants and families operating across borders.

Madu, co-founder and Chief Executive Officer of Expedier, noted that although capital and people move rapidly across borders, the systems that facilitate international payments often remain slow, costly and inaccessible to many users. 

He explained that traditional payment networks frequently involve lengthy processing times, high transaction fees and complex regulatory requirements that disproportionately affect immigrants and small businesses.

According to him, “Modern cross-border payment solutions now serve as essential drivers of economic participation, enabling individuals to support families abroad, integrate economically in host countries and engage in global commerce with fewer constraints.”

He stressed that efficient payment infrastructure plays a vital role in enhancing financial inclusion, particularly for underserved populations.

The CEO further observed that fintech innovation is transforming the landscape through digital-first platforms, blockchain-enabled transfers and Artificial Intelligence (AI)-driven compliance tools. 

These technologies, he said, are helping to reduce settlement times, lower costs and simplify multi-currency transactions, thereby expanding access to global financial services.

Madu cited Expedier as an example of how technology can facilitate cross-border transfers for immigrants and businesses by enabling faster transactions, reducing foreign exchange friction and streamlining onboarding processes for users with limited access to traditional banking services.

He added: “The benefits of efficient cross-border payment systems extend beyond individual users. Host countries gain from quicker economic integration of immigrants and increased participation in commerce, while countries receiving remittances experience improved economic stability and growth.”

Despite the progress, Madu pointed out that regulatory complexity, data privacy concerns and fraud risks remain key challenges. 

He called for stronger collaboration between fintech innovators, traditional financial institutions and regulators to ensure that payment systems remain secure while supporting innovation.

He said scalable and inclusive cross-border payment systems are no longer optional, but essential for a connected global economy, noting that continued innovation in the sector would further reduce barriers, expand financial access and support global trade.