Visa, Western Union partner on cross-border payments
Payments Dive
MARCH 6, 2024
The card network and the cross-border payments company are developing an international payment system that could be used in disaster situations.
6 Asian Companies Recognized Among the World’s Most Promising in Cross-Border Payments
Fintech News
OCTOBER 31, 2024
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. One of Singapore’s entries is Partior. Another company from Singapore featured on the list is Tazapay.
UK Banks Urged to Act Now Ahead of New Cross-Border Payments Legislation ISO 20022 to Prevent Exclusion from International Payment Networks
Fintech Finance
APRIL 24, 2024
The replacement RTGS system, slated for readiness in August 2024, makes support for ISO 20022 a prerequisite for all international payments from the SWIFT deadline. The shift in cross border payments is the first step in what will become a broader adoption of the ISO 20022 standard in the payments environment as a whole.
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Temenos and Visa Join Forces to Simplify Cross-Border Payments for Banks
Fintech News
JULY 16, 2024
Banking software provider Temenos and global payments leader Visa have announced a collaboration to simplify and streamline cross-border payments for banks and their customers. Visa Direct facilitates real-time cross-border and domestic payments, reaching billions of endpoints in over 190 markets and 160 currencies.
BRI Partners with Nium to Expand Real-Time Cross-Border Payment Solutions
Fintech Finance
OCTOBER 18, 2024
Nium , the leading global infrastructure for real-time cross-border payments, is thrilled to announce a partnership with Bank Rakyat Indonesia (BRI) to provide Indonesian customers with real-time international money transfer capabilities.
Currencycloud Powers OPAL to Simplify Cross-Border Payments for SMEs
Fintech News
JUNE 11, 2024
Licensed as a Major Payment Institution (MPI) by the Monetary Authority of Singapore (MAS), OPAL offers domestic and cross-border payments, payment accounts, and e-money services. Find out how Currencycloud can help you build your payments infrastructure by speaking to one of their experts today.
RBI Discusses CBDCs for Cross-Border Payments with HKMA, US Fed, and SWIFT
Fintech News
DECEMBER 10, 2023
The Reserve Bank of India (RBI) has initiated discussions with the Hong Kong Monetary Authority (HKMA) , the US Federal Reserve, and the international payment platform SWIFT to explore the use of central bank digital currencies (CBDCs) for cross-border payments.
CBA and BNY Deliver Near Real-Time Cross-Border Payments
Fintech Finance
AUGUST 22, 2024
Through a new cross-border payments collaboration between Commonwealth Bank of Australia (CBA) and The Bank of New York Mellon ( BNY ), Australian businesses and individuals who receive international payments from BNY’s customers may now be paid in as little as 60 seconds1 regardless of who they bank with.
Standard Chartered Taps Wise for Faster, Cheaper International Payments
Fintech News
NOVEMBER 4, 2024
Standard Chartered announced a new partnership with Wise Platform to improve speed and lower costs for its international payments service, SC Remit. Wise Platform’s infrastructure includes over 65 licences and six direct connections to domestic payment systems including the latest one with Philippines’ InstaPay.
Swift Cross-Border Payment Processing Speed Stretches Further Ahead of G20 Target
Fintech Finance
OCTOBER 17, 2024
Swift today published new data which reveals continued progress towards meeting the G20’s goal for the speed of cross-border payments, reporting that 90% of cross-border payments made over the Swift network reach the destination bank within an hour.
Temenos and Mastercard to Expand Cross Border Payment Options for Banks
Fintech News
JUNE 4, 2024
Roberto Tittarelli Roberto Tittarelli, EVP New Payments Platform Europe, said, “With the integration of Mastercard Move’s money transfer solutions with Temenos’ payments capabilities, banks will benefit from a streamlined process to deploy, scale, and maintain ongoing interoperability for cross-border payments.
Bitso Business Surpasses $12 Billion in Transactions in 2024 and Unveils Study Revealing Stablecoins as the Leading Alternative for Cross-Border Payments
Fintech Finance
DECEMBER 17, 2024
Bitso Business the B2B arm of Bitso that provides the infrastructure for the future of cross-border payments releases its 2024 results. The global cross-border payments market, currently valued at $44 trillion, is projected to reach $65 trillion by 2030. trillion by 2030.
Standard Chartered and Wise Platform Partner to Transform International Payments Experience
Fintech Finance
NOVEMBER 5, 2024
In a significant move to strengthen its retail cross-border payments offering, leading global bank Standard Chartered and Wise Platform, Wise’s global payments infrastructure for banks, have announced a partnership, to power faster and cheaper international payments for the bank’s cross-border payment service, SC Remit.
13 Asia Pacific Firms Make Top 100 Cross-Border Payment Companies List for 2024
Fintech News
MAY 7, 2024
FXC Intelligence, a data platform specializing in the cross-border payment and e-commerce sectors, has released its annual selection of the world’s top cross-border payment companies, recognizing the leading publicly traded companies, startups and private companies operating in the space worldwide.
Doha Bank and Nium Partner to Introduce Real-Time Cross-Border Payments in Qatar
Fintech Finance
OCTOBER 22, 2024
Nium , the leading global infrastructure for real-time cross-border payments, is thrilled to announce its strategic partnership with Doha Bank , a premier financial institution in Qatar. Central to this collaboration is the commitment to offer fast, reliable, and cost-effective remittance services to residents of Qatar.
SWIFT Launches Service For Low-Value Cross-Border Payments
PYMNTS
OCTOBER 1, 2020
Among the improvements include streamlined service with security embedded at every level, tighter service levels between banks with increased speed, competitively priced processing fees with upfront transparency and payments exchanged through the secure SWIFT network and cleared through channels for international payments.
Navigating the evolving landscape of cross-border payments
The Payments Association
OCTOBER 24, 2024
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.
Bank Of America Expands SWIFT gpi, Intros CashPro Cross-Border Payment Tracker
PYMNTS
DECEMBER 10, 2020
Bank of America (BofA) is introducing a cross-border payment tracker and expanding SWIFT gpi to support more than 140 currencies, accessible through the integrated CashPro platform. SWIFT gpi Instant for real-time cross-border payments and transfers went live in the U.K. 10) press release.
Bank of America upgrades improve international payment transparency
Payments Source
DECEMBER 10, 2020
Bank of America has launched a cross-border payment tracker through its Swift GPI module that allows clients real-time visibility into their international payments.
Cross Border Payments on the Rise, Trulioo Reports 142% Surge in Remittance Transactions
Fintech Finance
AUGUST 29, 2024
As cross-border payment demand reaches new heights, remittance companies continue to turn to the Trulioo global platform for its comprehensive analytics and localized digital verification workflows in 42 languages. We are proud to hold the trust of leading remittance brands in a rapidly expanding global industry.”
International coalition pursues cross-border payments improvements
Payments Dive
JANUARY 23, 2023
In a new report, a group of international organizations give a broad overview of routes for improving international payments systems.
PCBB and Finzly Partnership Boosts International Payment Services
Fintech Finance
OCTOBER 28, 2024
PCBB and Finzly , two leading innovators in the financial payments industry, have formed a strategic partnership to deliver enhanced international payment services to Finzly’s customers. The post PCBB and Finzly Partnership Boosts International Payment Services appeared first on FF News | Fintech Finance.
Datapro and Mastercard Join Forces to Expand Opportunities for Cross-Border Payments in Latin America
Fintech Finance
JULY 12, 2024
Datapro , a leading provider of core banking systems and digital solutions, recently collaborated with Mastercard to expand the integration of Mastercard Cross-Border Services, a solution within the Mastercard Move portfolio of money transfer solutions.
Mastercard Move Collaborates With urpay to Enable Convenient and Secure Cross-Border Payment Services
Fintech Finance
JUNE 25, 2024
As part of its mission to connect and power an inclusive digital economy, Mastercard has signed a strategic agreement with urpay to offer urpay consumers across the Kingdom greater access to an advanced selection of cross-border payment solutions. Our cross-border services are fully geared towards doing exactly that.
Morgan Stanley Partners with Wise to Enhance Cross-Border Payment Capabilities
The Fintech Times
DECEMBER 20, 2024
Morgan Stanley is teaming up with Wise to bring faster and smoother cross-border payments to its corporate clients, making it the first investment bank to integrate Wises global payments platform.
Wise to Power Morgan Stanley’s Cross-Border Payments for Corporate Clients
Fintech News
DECEMBER 17, 2024
Morgan Stanley has partnered with Wise Platform to enhance its cross-border payment capabilities for corporate and institutional clients. The collaboration makes Morgan Stanley the first investment bank to offer foreign exchange international settlements through Wises infrastructure.
Payoneer Launches Global Cross-Border Payments Capabilities
PYMNTS
SEPTEMBER 8, 2020
Digital payments platform Payoneer is working to expand its services globally with the launch of its new Payoneer for Banks, which will aim to let more financial institutions aid businesses with cross-border payments, according to a Tuesday (Sept. 8) press release.
Amex Touts Success In Ripple Cross-Border Payments Pilot
PYMNTS
DECEMBER 12, 2018
” He pointed to blockchain company Ripple in particular, which is working with American Express and Santander to test a blockchain-powered, cross-border payments solution. “We did a test, partnering with Santander locally, and with Ripple to just do cross-border transactions,” he said, according to reports.
Temenos Simplifies Cross-Border Payments with Cloud-Based Service
Fintech News
OCTOBER 22, 2024
Banking software provider Temenos has introduced a new service designed to make cross-border payments faster and more affordable. The Temenos Cross Border Payments Enterprise Service is available to banks, Payment Service Providers (PSPs), electronic money institutions (EMIs), and fintechs.
Cutting Through The Cross-Border Payments Confusion
PYMNTS
DECEMBER 1, 2020
The world doesn’t lack for stories about cross-border payments gone wrong. In some examples, by the time the money went through all the byzantine steps that have historically made up the cross-border payments process, only about $4 worth of spendable value actually arrived.
Airwallex’s Cross-Border Payments Technology Streamlines McLaren Racing’s Financial Operations
Fintech Finance
SEPTEMBER 23, 2024
Airwallex , a leading global payments and financial platform for modern businesses, today revealed how its global financial technology has improved McLaren Racing’s financial operations throughout the 2024 Formula 1 season.
Cross-Border Real-Time Payments Make Tangible Progress as Over 50% Consumers Use Them, Says GlobalData
Fintech Finance
JULY 12, 2024
Cross-border payments are becoming increasingly important to international economies. The G20 roadmap for enhanced cross-border payments aims to improve the speed, access, transparency, and cost of international payments by 2030.
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Global Cross-Border Payments Expected To Grow, But Challenges Remain
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.
dLocal Partners with MoneyGram to Expand Leading International Payment Services in High-Growth Markets
Fintech Finance
SEPTEMBER 19, 2024
dLocal, the leading cross-border payment platform specializing in emerging markets, today announced a strategic partnership with MoneyGram, a leading global financial technology company that connects the world’s communities.
The Treasurers’ Guide To Simplifying Cross-Border Payments
PYMNTS
SEPTEMBER 9, 2019
On the other hand, it also means they must learn to navigate a highly fragmented and complex international payments ecosystem. Each country has its own rules and regulations dictating how businesses can make and receive payments, as well as its own, unique financial infrastructure. To learn more, download the playbook.
Why Cross-Border Payments Still Present Challenges
PYMNTS
JULY 31, 2019
international transactions per capita every year, up from 0.5 So, why do cross-border payments present so many challenges? Some payments providers are also leveraging blockchain and distributed ledger technology (DLT) to meet these needs, expediting the cross-border payment process.
TransferWise On The Faster Future Of Cross-Border Payments
PYMNTS
OCTOBER 16, 2020
The traditional correspondent banking network is one major speedbump that stops financial institutions (FIs) from providing speedy, inexpensive, cross-currency and cross-border transfers, Lembo explained, but financial services providers can adopt new technology and approaches to safely streamline these transactions.
International payments have been neglected for too long
Payments Source
JULY 31, 2020
Cross-border payments do not and should not exist in a vacuum, says Veem's Marwan Forzley.
BIS Completes Project Mandala, Automating Cross-Border Transaction Compliance
Fintech News
OCTOBER 28, 2024
The initiative showcases how regulatory requirements can be embedded directly into cross-border payment processes, aligning with G20 priorities to make these transactions faster and more cost-effective. We are optimistic about the potential of these early results to enhance cross border payments.”
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RAKBANK Completes International CBDC Transaction Using eCNY and Digital Dirham
The Fintech Times
SEPTEMBER 11, 2024
Central bank digital currencies (CBDCs) have a lot of potential to uproot the cross-border payments market. The cross-border payment was completed using the Central Bank of the UAE’s (CBUAE) mBridge platform and marks a significant step forward in the international payments market.
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PNC’s Treasury Unit Joins RippleNet For Cross-Border Payments
PYMNTS
SEPTEMBER 19, 2018
PNC Treasury Management joined the Ripple cross-border payments network that uses blockchain to facilitate global transactions. Payments sent from across borders can be received in real time via RippleNet , the firms noted, providing a boost to corporate payees’ cash flows.
Qonto Announces Partnership With Wise Platform to Bring Faster, Cheaper and More Convenient International Payments to Its Customers
Fintech Finance
JUNE 26, 2024
The first is a new strategic partnership with Wise Platform , Wise’s market-leading global infrastructure for banks and enterprises, to further enhance Qonto’s cross-border payment capabilities. Faster payments: Over 60% of Wise’s transfers are settled instantly (in 20 seconds or less) and 95% are completed in under one day.
SWIFT Successfully Tests Instant Cross-Border Payments
PYMNTS
OCTOBER 21, 2018
SWIFT announced Sunday (October 21) successful test results of its new instant cross-border payments proof of concept, involving banks in China, Singapore, Thailand and Australia. These results demonstrate two important prerequisites necessary to realize an instant cross-border payment service.
CARD.com Corporation Announces Collaboration With Visa for Visa Direct Cross-Border Payments
Fintech Finance
DECEMBER 17, 2024
Card Corporation, a leading privately-owned financial services technology company specializing in mobile banking and card payments, is pleased to announce a new collaboration with Visa to introduce Visa Direct Cross-Border payments.
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