PYMNTS

OCTOBER 6, 2016

All of this has occurred as the company has continued to expand the pilot phase of its global payments innovation (gpi) initiative, thus far signing on dozens of major financial institutions to an effort aimed at streamlining cross-border payments. ” The FinTech boom is loud and growing louder. .”

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SWIFT Global Payments Innovation Cross-Border 75

PYMNTS

SEPTEMBER 11, 2019

Enterprise software provider R3 is teaming up with Mastercard to establish a blockchain solution for cross-border payments, the companies said in a press release on Wednesday (Sept. More than 300 financial services firms, technology companies, banks, regulators and associations are part of R3’s Corda ecosystem. “Our

Cross-Border Payments 51

Cross-Border Payments Cross-Border Visa Blockchain 51

PYMNTS

JULY 15, 2020

In a conversation with PYMNTS, Nader discussed the role payments plays in helping (or hampering) a company’s global growth ambitions, and the value of an efficient global payments strategy on giving smaller companies a competitive edge that had once been out of reach. Although the globalization of U.S.

Cross-Border 67

Cross-Border Cross-Border Payments Multi-Currency Correspondent Bank 67

Fintech Finance

AUGUST 12, 2024

Nium , the global leader in real-time cross-border payments, is strengthening its presence in Latin America by applying for essential licenses, joining key fintech associations, expanding its employee presence, and signing new customers. Nium has been present in the region dating back to 2017.

Real Time Payments 94

Real Time Payments Cross-Border Payments Cross-Border Central Bank 94

PYMNTS

MAY 3, 2019

It seems that’s the journey for cross-border payments, which are in the midst of a digital disruption as innovators focus on addressing a range of friction points, from sluggish speeds to high costs. Only a few years ago, small businesses lagged in global payments technology uptake.

Global Payments 60

Global Payments Cross-Border Payments Cross-Border Small Business 60

PYMNTS

FEBRUARY 20, 2018

Individual jurisdictions around the globe are pressing for both faster and more efficient cross-border payments. China’s central bank, for instance, took steps last month to boost the efficiency of cross-border transactions involving Chinese parties by lengthening its clearing window time span.

Cross-Border Payments 43

Cross-Border Payments Cross-Border International Payments Electronic Funds Transfer (EFT) 43

Fintech News

AUGUST 12, 2024

Global payments company Nium is enhancing its presence in Latin America, with a focus on expanding its operations in Brazil. BS2 is leveraging Nium’s Global FX product to reduce costs and enable real-time payouts between Brazil and key trading partners like China and the UAE.

Cross-Border 96

Cross-Border Cross-Border Payments Correspondent Bank Real Time Payments 96

PYMNTS

FEBRUARY 20, 2019

Cross-border payments firm Veem is introducing a rewards program for its business customers. 19) said the company is rolling out VeemRewards, a cash-back rewards program for businesses that use Veem to send payments across borders. An announcement made on Tuesday (Feb.

Cross-Border Payments 66

Cross-Border Payments Cross-Border Payment APIs and Integration B2B 66

PYMNTS

MARCH 7, 2019

Subsidiaries based in different countries, with different bank accounts, are obliged to send funds to each other using existing payment rails,” Lazarichev said in a recent interview, adding that traditional global payments tools take several days to complete. “In Cross-Border Payments Friction.

B2B 67

B2B Cross-Border Cross-Border Payments Correspondent Bank 67

PYMNTS

MARCH 17, 2016

The company, which uses a hybrid of blockchain technology and other payment rail infrastructure to enable cross-border payments, said it will look to capitalize on the demand spike for global payment services during the Olympic games, where hundreds of thousands of people will flock from all over the globe.

Cross-Border Payments 40

Cross-Border Payments Cross-Border Blockchain Payments 40

PYMNTS

SEPTEMBER 4, 2020

Earlier this year, Spain-based CaixaBank was one of six financial institutions in the country to sign up for the Swift global payments innovation (Swift gpi), the new standard for cross-border payments that promise to improve the customer experience by increasing speed, transparency and end-to-end tracking.

Cross-Border Payments 75

Cross-Border Payments Cross-Border Correspondent Bank SWIFT 75

PYMNTS

JUNE 13, 2019

The transactions between businesses are done on an account-to-account basis, as opposed to using the existing correspondent banking network — which, of course, relies on intermediaries. It has also linked with MoneyNetInt on cross-border payment processing in the U.S. Mastercard, Too.

B2B 75

B2B Distributed Ledger Technology (DLT) Cross-Border Cross-Border Payments 75

PYMNTS

JUNE 28, 2016

As of today, 73 new banks have signed on to Swift’s Global payments initiative. The goal of the project is to expand the payment services and experience for customers by upping the speed, transparency and predictability of cross-border payments.

Payment Initiation 40

Payment Initiation Global Payments Cross-Border Payments Cross-Border 40

PYMNTS

OCTOBER 2, 2018

Cross-border payments technology provider AscendantFX is bolstering its offering for financial institutions (FIs) through an integration with WireXchange, the wire transfer service operated by Fiserv. The integration follows ongoing change in the payments landscape, leading banks to demand more agile, efficient payment services.

Cross-Border Payments 55

Cross-Border Payments Payment APIs and Integration Cross-Border Wire Transfer 55

PYMNTS

APRIL 1, 2019

The jockeying for cross border-payments continues, and SWIFT and Ripple continue to dominate the headlines. As noted, SWIFT has rolled out its gpi (short for global payments initiative). Ripple has xRapid, its cross-border payments solution.

Cross-Border 61

Cross-Border Distributed Ledger Technology (DLT) Cross-Border Payments Transactions 61

PYMNTS

AUGUST 21, 2020

There are signs that the wheels are beginning to churn once again, however, and though not every industry will recover at the same pace, there is evidence that global trade is once again on the rise. Yet as cross border trade picks back up, the foreign exchange and global payments needs of businesses will intensify.

Multi-Currency 69

Multi-Currency Cross-Border Payments Cross-Border Finance 69

PYMNTS

OCTOBER 28, 2019

Cross-border payments firm Western Union has rolled out full application programming interface (API) access to domestic and global payment applications, the company said in a press release on Monday (Oct. Domestic and cross-border payments are supported in over 130 currencies.

International Payments 51

International Payments API Payment APIs and Integration Cross-Border 51

PYMNTS

APRIL 5, 2016

These profits are coming from the 3–5 percent foreign exchange fees that banks can charge for conducting a cross-border transfer, often through the costs that get tacked on as a payment moves between corresponding banks. To India, And Beyond . Its rivals, of course, will be doing the same.

Cross-Border 73

Cross-Border Cross-Border Payments Correspondent Bank Correspondent 73

PYMNTS

DECEMBER 17, 2019

Payment rails are getting more attention these days, and there is an increasing focus on offering a standardized, relatively seamless experience that can be locked and loaded by various operators with minimal hassle. Open Banking. We offer a single API across all banks,” Kirsch told Webster. It’s moving slowly.”.

Central Bank 52

Central Bank Global Payments Cross-Border Payment APIs and Integration 52

PYMNTS

AUGUST 1, 2019

Financial service providers are operating in a global payments market filled with disruption as they work to offer cross-border corporate payment services that live up to businesses’ standards.

Interoperability 61

Interoperability ISO 20022 Cross-Border Correspondent Bank 61

Payments Source

MARCH 7, 2019

INTL FCStone's Global Payments Division's foreign currency pricing has picked up enough momentum to extend beyond its initial launch to more than 350 correspondent banks globally.

Correspondent Bank 62

Correspondent Bank Correspondent Global Payments Payments 62

Fintech Finance

JUNE 6, 2024

Nium , the global leader in real-time cross-border payments, today announced a partnership with BS2 , a digital bank in Brazil specializing in fintech solutions for businesses. ” The post BS2 Bank Chooses Nium to Support Global FX Settlements and Real-Time Payouts appeared first on Fintech Finance.

Settlement 52

Settlement Cross-Border Cross-Border Payments Correspondent Bank 52

PYMNTS

APRIL 6, 2016

Payments messaging firm SWIFT is looking to gain support for its global payments initiative and, most recently, announced the latest backers of the pilot program. The company said it will hope to improve the transparency and speed of global payments with the program.

Cross-Border Payments 41

Cross-Border Payments Cross-Border B2B SWIFT 41

Fintech Finance

FEBRUARY 22, 2024

Numeral, the payment technology provider, today announces the support of Swift payments , enabling companies and financial institutions to automate cross-border payments with their partner banks to more than 200 countries, in addition to local European SEPA as well as UK Bacs, FPS, and CHAPS payments, from a single platform. “At

SWIFT 52

SWIFT Technology Cross-Border Payments Correspondent Bank 52

PYMNTS

DECEMBER 4, 2017

FinTech innovators are finally paying attention to the B2B sphere, and much of that focus has landed on the cross-border payments space — a notoriously clunky, expensive and opaque burden for many business payers. Traditional banks are often at the center of that global B2B payments friction.

B2B 41

B2B Cross-Border Payments Cross-Border Correspondent Bank 41

PYMNTS

JUNE 22, 2018

Face recognition seems to be a focus for tech companies, SensibleVision recently announced their own “Face payments.” The news comes months after BBVA executed its first cross-border payments using a system based on the software that supports bitcoin.

Cross-Border Payments 57

Cross-Border Payments Correspondent Bank Cross-Border Correspondent 57

Faster Payments Council

MARCH 15, 2023

Differences in currency, time zones, infrastructure, laws, and regulation remain barriers to fast, efficient, affordable and accessible cross-border payments for businesses and consumers alike. Panelists will provider perspectives on correspondent banking strategies.

FPC 88

FPC ISO 20022 Cross-Border Payments Cross-Border 88

PYMNTS

NOVEMBER 21, 2018

Launched in July, Citi Payment Insights provides real-time payments visibility, including processing status and timelines, charges deducted across correspondent banks, the amount credited to the beneficiary and the ability to action payments on demand via its electronic banking platform.

Cross-Border 52

Cross-Border Cross-Border Payments Correspondent Bank Real Time Payments 52

PYMNTS

SEPTEMBER 6, 2018

In other payments infrastructure-related offerings, some marquee names have made some strides. For example, tech giant IBM said it launched, via blockchain, its Blockchain World Wire, which is billed as a cross-border payment system that is powered by the Stellar blockchain network. You can find out more here.

Cross-Border 40

Cross-Border SWIFT Cross-Border Payments Payment APIs and Integration 40

PYMNTS

APRIL 24, 2017

Banco Bilbao Vizcaya Argentaria SA (BBVA), Spain’s number two lender, has executed its first cross-border payments using a system based on the software that supports bitcoin. On average, Ripple costs 81 percent less than the correspondent banking network used for decades to send global payments.

Cross-Border Payments 43

Cross-Border Payments Transactions Cross-Border Blockchain 43

PYMNTS

MAY 24, 2017

With lack of visibility into the correspondent banking system a top challenge for B2B payments, SWIFT is rolling out a way for payers to track their cross-border payments in real time. The solution is part of the firm’s broader gpi initiative, a payments innovation focus.

SWIFT 43

SWIFT Transactions Cross-Border Correspondent Bank 43

PYMNTS

APRIL 29, 2020

ius offered insight into exactly why crypto businesses are so difficult to bank. Yet doing so will be key, he said, to supporting the overall evolution of the global payments industry. ius said he is confident that cryptocurrencies will gradually become a standard part of the overall global payments infrastructure.

Cryptocurrency 113

Cryptocurrency Cross-Border Compliance AML 113

PYMNTS

DECEMBER 4, 2019

This week, the firm announced a collaboration with Ebury to integrate foreign exchange (FX) and cross-border payment services into its product suite. At first glance, SMB lending and cross-border FX services may not appear to go hand-in-hand. Recent reports from The Guardian found that more than £1 million ($1.3

Cross-Border Payments 52

Cross-Border Payments Cross-Border Scams IBAN 52

PYMNTS

JUNE 28, 2019

Several European banks, for example, are collaborating on a pilot program that will enable them to use SWIFT global payments innovation (gpi) through the pan-European TARGET Instant Payment Settlement (TIPS) rail. The SWIFT gpi pilot is not the only partnership aimed at improving the cross-border payments infrastructure.

Cross-Border 44

Cross-Border Cross-Border Payments Deposit Account SWIFT 44

PYMNTS

JANUARY 13, 2020

“Our objective is to offer [SMBs] the ability to hedge all parts of their production processes, and to allow these corporates to have access to a digital payments and hedging platform,” said INTL FCStone Global Payments Division Global Head Carsten Hils. “We

Mitigation 52

Mitigation Risk Correspondent Bank Correspondent 52

PYMNTS

FEBRUARY 8, 2018

China’s renminbi (RMB) is one global currency that is pushing its international standing, but new data from SWIFT released earlier this month found 2017 was a mixed year for the currency. In a chat with PYMNTS, Moon emphasized the role of cross-border B2B payments in the ability of the RMB to remain a strong contender in global payments.

B2B 44

B2B Cross-Border Payments Cross-Border Innovation 44

PYMNTS

SEPTEMBER 6, 2018

However, blockchain is also gaining ground, and currency is offering a boost to the payments infrastructure. To that end, IBM said it launched its Blockchain World Wire , billed as a cross-border payment system that is powered by the Stellar blockchain network. Africa As Greenfield Payments Opportunity.

SWIFT 40

SWIFT Payment Initiation Caps Cross-Border Payments 40