According to data from Mastercard, 7 in 10 small and medium enterprises (SMEs) in Singapore plan to expand their international business. Of those, 72% plan to source more suppliers, partners, and workers across multiple countries to spread future risks. As more SMEs become involved in international business, more are also using apps for cross-border payments, with 61% of SMEs already using such apps, up 6% from 2022. Globally, SMEs prioritize online payment solutions that can keep their transaction and personal and financial information secure (43%), deliver funds in 24 hours or less (39%), confirm funds received (38%), and enable status tracking of transfer and arrival time (34%).