The world today is as globalized as it was inconceivable to exist a couple of decades ago. Businesses across continents, freelancers collaborate with foreign clients, and families send money back to their homelands to support their near and dear ones. Despite the innovation that technology has brought to communication and business for speed, cross-border money movement has not. Cross-border payments remain slow, expensive, and cumbersome. To find out why, one must take a close examination of how exactly these kinds of payments really work and why the system is still charged despite the progress of digital finance.