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Correspondent Bank Global Payments Payments 
PYMNTS
APRIL 15, 2020
China is a notoriously challenging jurisdiction for foreign payment service providers to operate as the nation prioritizes local industry leaders. In addition to dwindling correspondent banking relationships, this model to move funds across borders limits visibility into a payment’s progress, and often means lengthy transaction times.
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. Region Stacy Rosenthal didn’t speak directly of Ripple’s swipes.
75 
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.
Fintech News
DECEMBER 10, 2023
In a global financial landscape where efficiency and accuracy are paramount, the challenge of failed payments is a significant hurdle for small and medium-sized enterprises (SMEs) and financial institutions (FIs), particularly in a vibrant market like Singapore.
101 
PYMNTS
AUGUST 31, 2020
With estimates that over 500 billion real-time payments will be processed over the next five years, the race is on for upgrades and integrations that allow financial institutions (FIs) and their clients to participate in a real-time payments space that is expected to reach nearly 53 billion real-time payment transactions by 2024.
Fintech News
JUNE 4, 2024
The Bank for International Settlements (BIS) has launched Project Rialto to test the potential for improving instant cross-border payments through a combination of a modular foreign exchange (FX) component and wholesale central bank digital currencies (wCBDC).
PYMNTS
MARCH 7, 2019
Corporate payments are still not a guaranteed use case for cryptocurrencies. Co-Founder Dmitry Lazarichev explained to PYMNTS why the company remains confident in cryptocurrency’s potential for corporate payments. Cross-Border Payments Friction.
67 
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.
92 
Fintech Finance
JULY 19, 2024
A global payments technical issue caused The Bank of England ‘s CHAPS payment system yesterday (Thursday 18th July) to fail leaving a large proportion of time-sensitive and high-value payments delayed. Retail payments, such as ATM and card payments, remained unaffected.
82 
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.
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.
PYMNTS
JULY 15, 2020
And yet, the same legacy challenges remain to operate globally. 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.
67 
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. that develops solutions for digital currency. It also gained control of Earthport , having bought the U.K.
52 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.
PYMNTS
AUGUST 1, 2019
In corporate payments, high-value transactions with tall demands for compliance, transparency, speed, efficiency and security aren’t just placing a burden on the businesses sending and receiving funds. International payments often contain unstructured and ambiguous transaction data, causing unnecessary delays and failed processing.
PYMNTS
JULY 26, 2019
The modern-day financial services landscape has a need for speed, and one of the slowest areas of the market can be seen in cross-border payments. Remittance and peer-to-peer payment technologies have accelerated transaction speeds for consumers tired of waiting days for money to move across borders.
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. At the time, the company had pegged its customer base at 80,000.
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. A Call for Transparency.
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
52 
PYMNTS
APRIL 29, 2020
But proponents of the technology argue that crypto is not only here to stay, but it will one day become a vital part of the overall payments and financial services ecosystem — so it’s essential that these companies receive adequate banking services today to prepare for the future. ” Contributing To The Payments Ecosystem.
113 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.
PYMNTS
JULY 31, 2019
According to the latest Smarter Payments Tracker , global payment usage is at an all-time high. So, why do cross-border payments present so many challenges? Increasingly, payments providers are stepping in creating solutions that solve speed and security issues for companies while maintaining seamless user experiences.
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.
PYMNTS
JANUARY 13, 2020
13) it has reached an agreement to acquire Germany-based GIROXX, which provides payment and FX hedging solutions for small and medium-sized businesses (SMBs) in Germany, Austria and Switzerland. INTL FCStone’s Global Payments Division maintains an estimated 350 correspondent banking relationships.
52 
PYMNTS
JUNE 22, 2018
In line with BBVA’s efforts, the bank recently demonstrated a ‘selfie’ payment system based on facial recognition. Face recognition seems to be a focus for tech companies, SensibleVision recently announced their own “Face payments.” Customers can buy items by looking at a camera in a booth adjacent to cash registers.
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. The new blockchain-enabled solution aims to bridge international payments infrastructures, schemes and banks via a Mastercard clearing and settlement network.
PYMNTS
NOVEMBER 21, 2018
Citi ’s Treasury and Trade Solutions (TTS) announced that it has expanded its Citi Payment Insights offering to more than 20 new markets, making it available in more than 70 markets. Citi’s offering goes beyond any other offerings I have seen in the marketplace thus far.”.
52 
PYMNTS
SEPTEMBER 11, 2019
According to the new Simplifying Cross-Border Payments Playbook , there are five key criteria that an ideal cross-border payment solution should meet: speed, security, compliance, transparency and ubiquity. Currently, there are 57 real-time payments rails operating in more than 72 countries, with even more under construction.
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.
Finovate
OCTOBER 21, 2024
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. Mastercard Move Commercial Payments offers more than just real-time settlement.
PYMNTS
JUNE 13, 2019
Visa and Mastercard each made headlines in the payments infrastructure and cross-border realms, eyeing digital payments and B2B payments. As reported earlier in the week, Visa launched B2B Connect , a network focused on enabling financial institutions (FIs) to help their clients make B2B payments across borders.
75 
PYMNTS
JANUARY 20, 2021
Choice is good, and as payment modernization initiatives mature worldwide, corporates now have more choice than ever in how they move money from Point A to Point B. This is particularly beneficial as companies prioritize their payments modernization initiatives to drive optimization. Optimizing Payment Paths.
PYMNTS
DECEMBER 18, 2019
Innovation in the payments arena has provided more rails upon which to move money. In B2B payments, though, legacy tools continue to lead. Local and global ACH transfers are used by 29 percent (the same portion of businesses that write checks to make international payments), while 17 percent use prepaid debit cards.
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. Regulatory Burdens.
41 The Paypers
JUNE 2, 2021
Datasoft , a global provider of foreign exchange and global payments software solutions, has launched FxOffice Platform-as-a-Service (PaaS).
PYMNTS
APRIL 5, 2016
Today, the company announces yet another tie-up in India, this time, with Yes Bank. According to Uphold EVP of Growth and Partnerships Robin O’Connell, even amid the earthquake of FinTech disruption, the existing banking infrastructure upon which payments has depended for so long is unlikely to go unneeded in the future.
73 
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. In the U.S.,
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.
PYMNTS
MARCH 1, 2017
With increasing globalization, cross-border, or global, payments have become a very big piece of the banking business. Needless to say, banks are feeling the pressure on all fronts to get their capabilities aligned with what the innovators around them are already providing. New Challenges, Old Systems.
58 
PYMNTS
JULY 16, 2018
Citi announced Monday (July 16) the launch of Citi Payment Insights, a new service that gives institutional clients access to real-time payment information and the ability to action payments on demand via the CitiDirect BE electronic banking platform.
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.
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. .
52 PYMNTS
JULY 16, 2019
When consumers use mobile apps like Uber or iTunes, the expectation that payments occur in a seamless, integrated way represents a broader paradigm shift in the payments world — one that is seeping into the corporate community as well. procurement), and its related payments (i.e., the function of payment a vendor).
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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