Cross-border payments refer to transactions where money is transferred between individuals or businesses in different countries. These payments can involve various currencies and often require conversion from one currency to another. They are essential for international trade, remittances, and online services, enabling people and companies to conduct business globally. The process of cross-border payments typically involves banks, payment service providers, and sometimes intermediaries to facilitate the transaction. Technologies like blockchain and digital wallets are increasingly being used to make these payments faster and more cost-effective, addressing challenges such as high fees and long processing times.