Worldpay Executive Calls UAE the Modern Silk Road for Payments

Ahmed Zifzaf describes the United Arab Emirates as a central hub for cross-border transactions, citing its high per capita remittance volumes.

Summary

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Terms & Concepts
  • Cross-border payments: Transactions involving sending money between parties in different countries, often requiring currency conversion and payment networks.
  • Remittances: Funds transferred by individuals working abroad to recipients in their home country, typically through banks or money transfer services.
  • Silk Road: A historic trade route connecting Asia, Africa, and Europe, used here metaphorically to describe a hub for global commerce and financial flows.