PYMNTS

JUNE 7, 2018

Competition in the cross-border payments market is on the rise as blockchain firm Ripple and payments messaging company SWIFT vie for market leadership. The company also launched a partnership earlier this year with Spain’s Banco Santander to develop a cross-border payments service based on XCurrent.

Cross-Border Payments 59

Cross-Border Payments Cross-Border SWIFT Correspondent Bank 59

PYMNTS

DECEMBER 2, 2020

Belgium-headquartered payments solution provider SWIFT is introducing a new service for real-time cross-border payments and transfers called gpi Instant. He added that SWIFT’s gpi Instant targets four main issues: “speed, security, transparency and compliance.” Global payments routed to the U.K.

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SWIFT Cross-Border Cross-Border Payments Faster Payments 102

PYMNTS

DECEMBER 28, 2020

Digital currencies could render the SWIFT global payments network unnecessary, RT.com reported, citing the Central Bank of Russia (CBR). In this case SWIFT it may not be necessary, because it will be a different kind of technological interaction,” Skorobogatova said during a virtual meeting, per RT.com.

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Central Bank SWIFT Digital Currency CBDC 142

PYMNTS

JULY 1, 2019

The rise of the global economy and the demand for swift and secure cross-border payments is driving the development of more efficient infrastructures, and spurring financial institutions (FIs) to experiment with emerging tech. The bank recently announced it had been testing moving international funds using Ripple.

Cross-Border Payments 84

Cross-Border Payments Cross-Border Blockchain SWIFT 84

PYMNTS

MARCH 5, 2019

In a press release sent to PYMNTS on Monday (March 4), ONPEX revealed it will provide Wirexend with its cross-border payments and Banking-as-a-Service technology so that Wirexend can offer its own business customers with global payment capabilities, enabling customers to access to SWIFT and SEPA money transfer services.

Cross-Border Payments 46

Cross-Border Payments Cross-Border SWIFT Multi-Currency 46

PYMNTS

FEBRUARY 14, 2019

The movement toward cross-border payments — done digitally, at lower cost and completed faster — is an inexorable one. Headlines in recent weeks have centered on the efforts by Ripple and messaging service SWIFT to improve cross-border money transfer activities. dollars to Philippine pesos.

Cross-Border Payments 73

Cross-Border Payments Cross-Border SWIFT Blockchain 73

Payments Source

OCTOBER 17, 2017

The Society for Worldwide Interbank Financial Telecommunication says its Global Payments Innovation service surpassed two million cross-border payments during September.

Cross-Border Payments 62

Cross-Border Payments Cross-Border SWIFT Payments 62

PYMNTS

SEPTEMBER 17, 2020

SWIFT , a global provider of secure financial messaging services, announced Wednesday (Sept. 16) that its cross-border platform will be retooled to enable financial institutions to deliver instant transactions. SWIFT said the planned platform will leverage its reach across more than 11,000 institutions in 200 countries.

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Cross-Border SWIFT Cross-Border Payments API 139

PYMNTS

MAY 24, 2018

SWIFT announced Thursday (May 24) that 25 percent of all SWIFT cross-border payment traffic is being sent over the global payments innovation — or gpi — in the 15 months since the service was rolled out. That enables gpi banks to track all SWIFT payment instructions at all times.

Cross-Border Payments 40

Cross-Border Payments Cross-Border SWIFT Accounts 40

PYMNTS

JULY 29, 2020

and China heating to a boil, one of China’s top banks is urging financial institutions (FIs) to cut their use of the SWIFT financial messaging network for cross-border transactions. adopting measures such as locking Chinese banks out of SWIFT, Reuters reported.

ISO 20022 116

ISO 20022 SWIFT Cross-Border ISOs 116

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

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. How Cross-Border Payments Are Made. So, what’s the problem? What’s Changing?

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Cross-Border Payments Cross-Border ISO 20022 Real Time Payments 76

Payments Source

FEBRUARY 16, 2017

A dozen global transaction banks are now using the Society for Worldwide Interbank Financial Telecommunication's new global payments initiative service to improve cross-border payment delivery.

Cross-Border Payments 60

Cross-Border Payments Cross-Border SWIFT Payment Initiation 60

Payments Source

MARCH 12, 2019

Ideally, Swift would like to see its worldwide bank network fully adopt its Global Payments Innovation initiative as well as the ISO 20022 messaging standard for cross-border payments.

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ISO 20022 SWIFT Cross-Border Payments Cross-Border 79

Payments Source

MAY 21, 2019

Seven European banks are testing Swift's Global Payments Innovation real-time cross-border payments through the continent's Target Instant Payment Settlement process.

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SWIFT Settlement Cross-Border Payments Cross-Border 76

Payments Source

APRIL 5, 2016

Swift is moving into the testing phase of its global payments initiative, saying 21 banks have started a pilot for clearer communication amongst banks making and accepting cross-border payments.

Payment Initiation 62

Payment Initiation SWIFT Global Payments Cross-Border Payments 62

PYMNTS

MARCH 16, 2020

Cross-border payments via Swift’s ISO 20022 migration, originally set to roll out by November 2021, have now been set back a year and are expected to come by the end of 2022 instead, according to reports. ISO 20022 is set to make changes to the payment landscape as a whole, according to the company.

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ISO 20022 ISOs SWIFT Cross-Border Payments 78

Payments Source

DECEMBER 18, 2018

The Global Payments Innovation service now moves 55 percent of Swift's cross-border transactions as it nears its second anniversary.

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Cross-Border Cross-Border Payments SWIFT Global Payments 60

PYMNTS

OCTOBER 6, 2016

SWIFT’s year has been filled with controversy, the apex of which occurred when reports surfaced that cyberthieves infiltrated Bangladesh Bank via the SWIFT messaging system in February, resulting in $81 million stolen from the bank’s account at the New York Federal Reserve. Among its criticisms was a lack of speed.

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SWIFT Global Payments Innovation Cross-Border 75

PYMNTS

AUGUST 1, 2019

The second is network interoperability, in which one payment scheme negotiates exchange agreements with another. This type of interoperability is almost exclusively used for cross-border payments, allowing consumers to make credit card purchases in countries with domestic currencies different from their own.

Cross-Border Payments 43

Cross-Border Payments Cross-Border Interoperability Electronic Funds Transfer (EFT) 43

PYMNTS

SEPTEMBER 10, 2019

That’s especially true with cross-border payments , where commerce done globally demands that firms be aware of regulations and payments preferences that are endemic to a specific country or even specific region. 57: Number of real-time payments schemes operating worldwide in 2019.

Cross-Border Payments 53

Cross-Border Payments Cross-Border Real Time Payments Security 53

Fintech Finance

APRIL 9, 2024

It will launch an embedded finance feature for SEPA, SEPA Instant, FPS and SWIFT transactions. Now more than ever, financial agility and global connectivity are crucial. PayDo aims to improve cross-border payments. It will do this by providing access to SEPA, SEPA Instant, and SWIFT transactions.

Embedded Finance 52

Embedded Finance Finance Payment APIs and Integration Cross-Border Payments 52

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.

Cross-Border Payments 64

Cross-Border Payments Cross-Border Innovation Correspondent Bank 64

PYMNTS

MARCH 14, 2019

” Cross-Border Payments in the Crosshairs. One of the areas of corporate finance experiencing the biggest exposure to these disruptors is global payments. “If you look at cross-border payments, at the highest level they are the settlement engine for a rapidly globalizing economy,” said Kohli.

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Global Payments Cross-Border Payments Cross-Border ISO 20022 77

Payments Source

FEBRUARY 25, 2021

The payments division of Western Union has integrated with the Swift Global Payment Initiative for faster transfers, and has added international currency options.

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SWIFT B2B Payment Initiation Global Payments 102

The Paypers

JUNE 25, 2018

(The Paypers) The SWIFT Community has extended its global payments innovation (gpi) scheme to all 10,000-member banks on the global network for cross-border payments.

Cross-Border Payments 28

Cross-Border Payments Cross-Border SWIFT Payments 28

PYMNTS

AUGUST 12, 2020

AscendantFX Capital , which works in technology-based payment innovations, has joined the SWIFT Network for the benefits it offers, including better transparency and faster payments, the company announced in a Wednesday (Aug. SWIFT gpi’s technology is revolutionary for the payments industry and gives power back to the customer.”

Cross-Border 77

Cross-Border SWIFT Cross-Border Payments Payee 77

PYMNTS

JULY 20, 2017

ABB, Nestle, SBB and others reportedly sent an open letter to banks promoting their support for SWIFT’s gpi (global payments innovation) initiative and urging those FIs to take part in exploring how to improve cross-border payment processes.

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SWIFT Cross-Border Payments Cross-Border Non-Bank 59

The Fintech Times

AUGUST 24, 2024

Altery , a UK-based payment service provider startup, is teaming up with a leading digital bank in Uzbekistan, Uzum Bank , to offer more cost-effective money transfer solutions tailored to the fast-growing market in the region.

Cross-Border Payments 64

Cross-Border Payments Cross-Border Funds Transfer SWIFT 64

PYMNTS

APRIL 9, 2018

SWIFT ’s global payments initiative (gpi) service has a new bank on board. Reports on Friday (April 6) in WebIndia123 said ICICI Bank is the first in India to join and roll out the global payments service. ICICI, along with Axis Bank, were the first banks in India to join SWIFT’s gpi.

SWIFT 54

SWIFT Cross-Border Payments Cross-Border Real Time Payments 54

PYMNTS

JUNE 24, 2019

Payments messaging firm SWIFT will allow blockchain companies to connect into its global payments innovation (gpi) platform, SWIFT said in its latest report on the future of payments. The initiative follows a collaboration between SWIFT and R3 that was announced in January, reports noted.

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SWIFT Cross-Border Payments Blockchain Cross-Border 43

PYMNTS

OCTOBER 11, 2018

SWIFT announced Thursday (Oct. 11) that Santander , the retail and commercial bank, has gone live on SWIFT’s global payments innovation (gpi) service in Spain, the U.K., In a press release , SWIFT said Santander will go live in Chile and Mexico on SWIFT gpi by the end of this year.

SWIFT 55

SWIFT Cross-Border Payments Cross-Border Real Time Payments 55

PYMNTS

MAY 13, 2020

While it’s a feat with unique requirements that arose from the special circumstances of today, Perplies discussed some of the lessons the experience has to offer the broader global payments ecosystem for a post-pandemic world. Accelerating PPE Procurement. to multiple vendors in China to facilitate PPE procurement.

Cross-Border 81

Cross-Border Cross-Border Payments Facilitators B2B 81

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.,

Cross-Border Payments 43

Cross-Border Payments Cross-Border International Payments Electronic Funds Transfer (EFT) 43

PYMNTS

NOVEMBER 7, 2018

FIS , a global leader in financial services technology, announced that it has connected LVMH Group to the SWIFT Global Payments Innovation (gpi). LVMH’s volume of cross border payments presented unique challenges for the company, and we are pleased to provide the tools needed to leverage these emerging opportunities.”.

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SWIFT Cross-Border Payments Cross-Border Treasury 58

PYMNTS

SEPTEMBER 9, 2019

David Watson, the former managing director and head of cash management for Deutsche Bank in the Americas, as well as the head of global digital cash products, has joined SWIFT as the new strategic relationship director in North America, according to a release. He has also been a member of TCH’s Company Board since 2017.

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SWIFT Cross-Border Payments Cross-Border API 71

The Paypers

MARCH 21, 2019

(The Paypers) Six Spanish banks have adopted the SWIFT global payments innovation standard for cross-border payments.

Cross-Border Payments 28

Cross-Border Payments Cross-Border SWIFT Payments 28