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

PYMNTS

AUGUST 16, 2019

Cross-border payments are expected to surge over the next few years as the economy becomes increasingly global and interconnected. The latest Smarter Payments Tracker looks at the infrastructure developments that are making cross-border payment systems faster, more seamless and interoperable.

Cross-Border Payments 81

Cross-Border Payments Cross-Border ISO 20022 ISOs 81

PYMNTS

JULY 11, 2019

There has been, seemingly, a parade of announcements geared toward bringing B2B payments into the digital age, bringing about the end of paper, speeding the time for settlement of transactions and making payments across borders cheaper and more transparent. Transactions settle in one business day, he said.

Correspondent Bank 67

Correspondent Bank Correspondent Blockchain Bitcoin 67

Fintech Finance

NOVEMBER 4, 2024

Wise has spent the last 14 years building an alternative to traditional correspondent banking. With over 65 licenses globally and now six direct connections to domestic payment systems, this infrastructure enables over 63% of all Wise transactions to be completed instantly (under 20 seconds), with an average fee of 0.62%.

Instant Payments 86

Instant Payments Settlement Accounts Cross-Border Payments 86

The Fintech Times

NOVEMBER 5, 2024

Wise , the fintech focused on money transfer, has been granted direct access to the Philippines’ real-time payment system, InstaPay, enabling it to enhance the cross-border payment experience for around 13 million of its customers. per cent. .

Real Time Payments 59

Real Time Payments Cross-Border Payments Cross-Border Correspondent Bank 59

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.

Cross-Border Payments 51

Cross-Border Payments Cross-Border Visa Blockchain 51

Fintech Finance

APRIL 17, 2024

The Payments division of StoneX ( StoneX Payments ) will supply NatWest with third-party delivery and international FX payment systems, allowing the bank’s corporate clients to transfer money to more nations with ease.

Cross-Border 52

Cross-Border Cross-Border Payments Correspondent Bank Payments 52

Fintech Finance

JANUARY 2, 2024

StoneX has announced that it is one of the first financial organizations to enable Swift ’s new leading-edge solution for cross-border payments. Cross-border payments have long been a complex area marked by ongoing regulatory and compliance changes, bank offline hours, and increasing competition.

Cross-Border Payments 59

Cross-Border Payments Cross-Border SWIFT Verification 59

PYMNTS

DECEMBER 18, 2018

SWIFT said Tuesday (December 18) that its SWIFT gpi payment service is being used for more than half of SWIFT’s cross-border traffic. The pace of its adoption since its launch in early 2017 is particularly impressive; less than two years since its launch, gpi is rapidly becoming the cross-border standard. “The

Cross-Border 55

Cross-Border SWIFT Cross-Border Payments Correspondent Bank 55

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

AUGUST 1, 2019

Payments messaging firm SWIFT has released its first set of guidelines for financial institutions using the ISO 20022 payments messaging standard to complete cross-border transactions. “International payments often contain unstructured and ambiguous transaction data, causing unnecessary delays and failed processing.

ISO 20022 76

ISO 20022 ISOs SWIFT Cross-Border 76

PYMNTS

OCTOBER 22, 2019

Money constantly flows across borders in the increasingly interconnected global economy, from workers overseas back to their families, and from buyers to their suppliers. Any complications cause major headaches, and international payments are often more involved and costly than those made domestically.

Cross-Border Payments 41

Cross-Border Payments Cross-Border P2P B2B 41

Finovate

APRIL 9, 2024

This includes offshore banking for international contractors, banking platforms for nonprofits and cross-border businesses, and white-label bonding solutions for insurance agents. Infinity is a banking and payments platform for cross-border businesses in India.

FinTech 52

FinTech Cross-Border Due Diligence AI 52

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

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. ISO 20022 will modernize international and domestic payment rails, enabling right and new payment services.”.

Interoperability 61

Interoperability ISO 20022 Cross-Border Correspondent Bank 61

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

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

AUGUST 21, 2020

Yet as cross border trade picks back up, the foreign exchange and global payments needs of businesses will intensify. Beyond Payments Initiation. FXPress entered the market with a focus on cross-border payments and foreign exchange services.

Multi-Currency 69

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

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. Regulatory Burdens.

B2B 41

B2B Cross-Border Payments Cross-Border Correspondent Bank 41

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.

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SWIFT Transactions Cross-Border Correspondent Bank 43

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. Despite the U.K.’s

Cross-Border Payments 52

Cross-Border Payments Cross-Border Scams IBAN 52

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

APRIL 5, 2016

Last week, Uphold announced a partnership with India’s IDFC Bank, a move that allows Uphold’s business and consumer customers to conduct cross-border transactions to and from the home of the world’s fastest-growing economy. Today, the company announces yet another tie-up in India, this time, with Yes Bank.

Cross-Border 73

Cross-Border Cross-Border Payments Correspondent Bank Correspondent 73

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

The Fintech Times

FEBRUARY 21, 2024

Having reflected on what the top priority is for businesses looking to enter the cross-border payments space, we now turn our attention to the future, and how the sector will evolve in 2024. Most notably, the European Payment Council ’s ‘One-Leg Out Instant Credit Transfer (OCT Inst)’ scheme went live in December.

Cross-Border Payments 78

Cross-Border Payments Cross-Border ISO 20022 SWIFT 78

PYMNTS

DECEMBER 18, 2019

New research from Tipalti, conducted by Levvel Research, found that when it comes to cross-border B2B payments, wire transfers remain the most common method (cited by 69 percent of survey respondents), despite the high fraud risks and sluggish speed of the tool. MoolahGo Explores The Interoperability Challenge.

B2B 52

B2B Credit Union Electronic Funds Transfer (EFT) RTP 52

PYMNTS

NOVEMBER 8, 2017

Friction abounds in the world of B2B payments, especially amid international payments across far-flung supply chains. To that end, SWIFT debuted its global payments innovation initiative (gpi) earlier this year, a solution which looks to boost the infrastructure underpinning the movement of money on a global scale.

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SWIFT B2B Correspondent Bank Overlay Service 43

PYMNTS

AUGUST 2, 2019

In B2B, cross border payments are about much more than dollars and cents. That can be a logistical challenge for businesses making payments in currencies deemed exotic, defined as belonging to emerging economies in, say Africa, Asia and the Middle East. Those banks may use Barclays in the U.K.

B2B 41

B2B Cross-Border Online and Mobile Banking Central Bank 41

Nanonets

SEPTEMBER 8, 2023

A well-established network of correspondent banks facilitates cross-border and cross-currency transfers with typically only one or two intermediaries involved. Going Global with Wire: Wire transfers are often preferred for international payments.

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Wire Transfer Wire Wires ACH 52

PYMNTS

JUNE 30, 2017

Banks, Ludwin said, are looking for better products to offer their clients when sending money from one business to another cross border. Banks, themselves, may also be a little skittish in the wake of the SWIFT/Bangladesh heist. Everyone knows the reality, which is that today there is really only one choice.

Blockchain 77

Blockchain B2B Payments Correspondent Bank 77

PYMNTS

APRIL 3, 2019

It may seem that cross-border payments were in the … well … crosshairs this past week, with a number of country-by-country and company-by-company initiatives using blockchain and other methods to speed payments and lower fees. These shortcomings make the cross-border payment industry ripe for disruption and innovation.

Cross-Border Payments 92

Cross-Border Payments Cross-Border Blockchain Distributed Ledger Technology (DLT) 92

PYMNTS

MARCH 12, 2018

“The advantage of a digital, risk-free claim against the central bank is you remove the friction from the [payments] system,” Cooke said. Among the problems solved by digital fiat: Looking at speed, said Cooke, cross-border transactions can take a while. The problem exists on all fronts.

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Faster Payments Central Bank Cross-Border Payments 44

Fintech Labs Insights

OCTOBER 9, 2015

The company also announced this week that it was shortening its name to “Ripple,” representing the technology’s emergence as an enterprise-grade solution and the debut of two new products for banks: Cross-Currency Settlement and FX Market Making. International transaction banking service.

Cross-Border 25

Cross-Border Settlement Correspondent Bank Correspondent 25

PYMNTS

SEPTEMBER 24, 2019

For today’s payment service providers, accelerating payments across borders means either developing new infrastructure, or making use of existing rails, to move money around the world. Below, PYMNTS looks at the latest news in cross-border payments innovation as industry players complete, collaborate and innovate.

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SWIFT Cross-Border Payment APIs and Integration Cross-Border Payments 73

PYMNTS

OCTOBER 11, 2017

Cross-border payments aren’t easy. Banks that power international payments must satisfy the regulations and standards on both ends of the transaction, but while also protecting the transacting parties and the funds moving between them. If the exchange rate fluctuates, banks can lose U.S.

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Cross-Border Correspondent Bank Cross-Border Payments Correspondent 40