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Mastercard to Offer Real Time Cross-Border Payments for Commercial Clients

Finovate

Mastercard launched Move Commercial Payments , a real-time cross-border payments solution that operates 24/7. The new commercial payments tool leverages a multi-rail system that includes SWIFT, Visa Direct, and Mastercard’s proprietary networks. Photo by Lea L on Unsplash

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BS2 Bank Chooses Nium to Support Global FX Settlements and Real-Time Payouts

Fintech Finance

BS2 will use Nium’s Global FX product to lower FX costs and provide more real-time payouts between Brazil and popular trading corridors with China and the UAE. ” Nium’s banking network is comprised of global banks, national banks, and payment service providers, to provide a versatile and robust payment product suite. .

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Small Firms Demand Higher Speed, Lower Costs In Global Payments

PYMNTS

Only a few years ago, small businesses lagged in global payments technology uptake. A 2016 report from HSBC found that a “lack of international business experience and knowledge” held small business owners back from global expansion and, therefore, from the adoption of global payment solutions.

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SWIFT Stands Behind Its Global Payments Innovation Initiative

PYMNTS

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. Region Stacy Rosenthal didn’t speak directly of Ripple’s swipes.

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Nium Expands Operations in Latin America, Accelerating Global Real-Time Payments in the Region

Fintech Finance

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.

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High Revenues, Low Margins An Opportunity In X-Border Corporate Payments

PYMNTS

In a new report , “A vision for the future of cross-border payments,” SWIFT and McKinsey & Company found that B2B cross-border transactions accounted for $125 billion in revenues last year. The next-highest category, consumer-to-business (C2B) cross-border payments, paled in comparison at just $54 billion.

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Crypto Goes After Intercompany B2B Payments

PYMNTS

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.

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