How Low Value Transactions Across Borders are Changing Payments

While the revolution in information and communication technology, the emergence of China as a global manufacturing exporter, and the expansion of global value chains in the 1980s started a new phase of globalisation, the relatively recent rise in e-commerce and direct-to-customer sales, facilitated by online retail platforms, is leading to a new feature of international trade, namely an increase in the number of low-value transactions.