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Cross-Border Payments in Numbers: Global Corporations Lost $120 Billion in Transaction Fees

Fintech Finance

The current cross-border payment system imposes high costs on businesses and economies worldwide, stifling economic potential and limiting financial inclusivity. Any improvement in the efficiency of cross-border transactions would, therefore, lead to considerable benefits for businesses and individuals globally.

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6 Asian Companies Recognized Among the World’s Most Promising in Cross-Border Payments

Fintech News

FXC Intelligence, a data platform specializing in the cross-border payment and e-commerce sectors, has released its annual selection of the world’s most promising cross-border payments companies in 2024. Another company from Singapore featured on the list is Tazapay.

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Thai Governor Highlights Data, Cross-Border Payment Initiatives at SFF 2024

Fintech News

Looking ahead, he highlighted Thailand’s efforts to strengthen cross-border payment connectivity through projects like Nexus and mBridge. The post Thai Governor Highlights Data, Cross-Border Payment Initiatives at SFF 2024 appeared first on Fintech Singapore.

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Nium Boosts Cross-Border Payment Efficiency with Partior

Fintech News

This collaboration makes Nium the first fintech payment service provider to join the Partior network, unlocking new capabilities such as programmable enterprise liquidity management and Just-in-Time multi-bank payments for financial institutions.

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Temenos Launches Enterprise Service to Power Faster, Lower-Cost Cross Border Payments

Fintech Finance

Temenos today launched a SaaS enterprise service for cross border payments, empowering Payment Service Providers (PSPs), including banks, electronic money institutions (EMIs) and fintechs, to swiftly launch and lower the cost of cross border payment services.

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Nium Offers Swift Connectivity for Faster Cross-Border Payments

Fintech News

This eliminates the need for complex and costly API integrations, making cross-border payments faster and more affordable. ISO 20022 is also the new industry standard in the process of migration, further streamlining cross-border payment processes. said Alex Johnson, Chief Payments Officer at Nium.

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Navigating the evolving landscape of cross-border payments 

The Payments Association

Cross-border payments are transforming rapidly with evolving regulations and technological advancements. Addressing regulatory compliance Businesses, including EMD Agents, face a challenge in cross-border transactions: complying with anti-money laundering (AML) and know-your-customer (KYC) regulations.