PYMNTS

DECEMBER 4, 2017

One of the latest to do so is international payments company TransferMate , an Ireland-based firm that announced last month it received more than $35 million in equity investment from Allied Irish Banks. For small- and medium-sized businesses (SMBs), cross-border payments fees can be crippling.

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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 company announced Tuesday (May 23) that its Tracker is now available to help businesses track global payments as they occur.

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SWIFT Transactions Cross-Border Correspondent Bank 43

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.

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

PYMNTS

JULY 31, 2019

According to the latest Smarter Payments Tracker , global payment usage is at an all-time high. international transactions per capita every year, up from 0.5 So, why do cross-border payments present so many challenges? Canadian payments network Interac is also investing in blockchain and DLT solutions.

Cross-Border Payments 72

Cross-Border Payments Cross-Border Distributed Ledger Technology (DLT) Payments 72

PYMNTS

APRIL 24, 2017

BBVA plans to offer Ripple’s service to a small group of clients in the coming weeks as a tryout, giving corporate customers a quicker and cheaper way to pay overseas suppliers and execute other international transactions, said Alicia Pertusa, head of the lender’s Digital Transformation in the Investment Banking unit.

Cross-Border Payments 43

Cross-Border Payments Transactions Cross-Border Blockchain 43

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

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. All of these payment methods come with their drawbacks.

B2B 52

B2B Credit Union Electronic Funds Transfer (EFT) RTP 52

PYMNTS

AUGUST 16, 2019

Financial institutions are facing increased pressure to make cross-border payments fast and seamless as consumers grow used to instant P2P payments and such products in other sectors. Recent American Express research found that greater transparency is one of the top priorities for firms that regularly make international payments.

Cross-Border Payments 81

Cross-Border Payments Cross-Border ISO 20022 ISOs 81

PYMNTS

DECEMBER 4, 2019

s efforts to promote bank switching and foster FinTech alternatives, Smith said SMBs still turn to High Street Banks as their default provider for many services, FX and international payments included. Many SMBs don’t realize the importance of routing payments in an efficient way,” explained Smith.

Cross-Border Payments 52

Cross-Border Payments Cross-Border Scams IBAN 52

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. O’Connell acknowledged the increasing population of the cross-border payments services space.

Cross-Border 73

Cross-Border Cross-Border Payments Correspondent Bank Correspondent 73

PYMNTS

SEPTEMBER 6, 2018

… It all means funds can now be transferred at a fraction of the cost and time of traditional correspondent banking.”. Africa As Greenfield Payments Opportunity. Thus, FinTech firms such as Ebury are able to track international payments in real time, and globally.

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SWIFT Payment Initiation Caps Cross-Border Payments 40

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

Fintech Labs Insights

OCTOBER 9, 2015

Quoted at the Ripple blog , company CEO Chris Larsen referred to both new solutions as part of his team’s effort to modernize payment infrastructure for banks, increasing efficiency and lowering costs. “It With Ripple’s new solutions, banks can now achieve real-time, certain settlement at the lowest total cost possible.”.

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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

APRIL 3, 2019

Separately, in other company news, Canadian FinTech Buckzy Payments announced its launch earlier this week, eyeing international payments through what it has termed a “safe, secure and convenient ecosystem.”. The company said it facilitates international payments, with funds reaching recipients in less than five minutes.

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