International Payments

International payments refer to the transfer of money between individuals, businesses, or governments across different countries. These transactions are often necessary for trade, tourism, and investment. They can involve various currencies, requiring conversion rates to determine value. International payments can be facilitated through banks, online platforms, or financial services, and usually include fees and processing times. Common methods include wire transfers, credit cards, or digital currencies. Understanding international payments is crucial for anyone engaged in cross-border activities, as it impacts costs and efficiency in global economic interactions.