Cross-border payment plays rev up
Payments Dive
OCTOBER 10, 2022
The Clearing House, Swift and rivals are jostling to speed up cross-border payments, with collaboration and competition likely to emerge at an international conference this week.
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.
Cross-Border Payments in Numbers: Global Corporations Lost $120 Billion in Transaction Fees
Fintech Finance
NOVEMBER 18, 2024
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.
India in Talks to Forge New Cross-Border Payment Linkages, Says RBI
Fintech News
NOVEMBER 21, 2024
India is advancing efforts to establish cross-border payment linkages with multiple countries, as reported by Bloomberg, citing an official from the Reserve Bank of India (RBI). T Rabi Sankar Deputy Governor T.
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.
Southeast Asia’s Trailblazing Role in Real-Time Cross-Border Payments
Fintech News
AUGUST 13, 2024
In a recent webinar hosted by the Fintech News Network, experts from the Bank for International Settlements (BIS), Wise, Airwallex, and LexisNexis Risk Solutions explored the latest trends and developments in cross-border payments, emphasizing the pioneering role of Southeast Asia in this rapidly evolving landscape.
Revolutionising Cross Border Payments in the APAC Ecosystem
Fintech News
APRIL 11, 2024
In the Asia-Pacific (APAC) region, the economic growth narrative is interwoven with technological innovation, propelling the B2B payments market into new realms of possibility. These diverse payment modalities symbolise businesses’ dynamic strategies to navigate the varied financial terrains across the Asia-Pacific region.
Nium Offers Swift Connectivity for Faster Cross-Border Payments
Fintech News
OCTOBER 20, 2024
Nium, a global payments infrastructure provider, announced that financial institutions can now connect to its real-time payments network using their existing Swift infrastructure. This eliminates the need for complex and costly API integrations, making cross-border payments faster and more affordable.
Ant International Joins Swift Initiative for Cross-Border Payment Interoperability
Fintech News
DECEMBER 8, 2024
Ant International has joined Swift ‘s “Network Interoperability Reference Implementation” programme, a pre-pilot initiative designed to improve cross-border payment experiences.
What Impact Is AI Going to Have on Cross Border Payments Security?
The Fintech Times
FEBRUARY 22, 2024
Payments are arguably the face of fintech. When you think about financial technology, it is easy to think about solutions which are making payments faster, easier and more accessible. It will play a big part in ensuring the new payment rails are well protected.
BIS’ Project Agorá Opens to Private Sector for Tokenised Cross-Border Payments
Fintech News
MAY 15, 2024
The project aims to explore how tokenisation can improve wholesale cross-border payments. This partnership aims to tackle inefficiencies in current payment systems, particularly in cross-border transactions, which face various legal, regulatory, and technical challenges, as well as different operating hours and time zones.
Thai Governor Highlights Data, Cross-Border Payment Initiatives at SFF 2024
Fintech News
NOVEMBER 12, 2024
He emphasized the country’s successful implementation of the PromptPay system and QR code standards, which have significantly broadened access to digital payments while prioritizing security. Looking ahead, he highlighted Thailand’s efforts to strengthen cross-border payment connectivity through projects like Nexus and mBridge.
Indonesia, South Korea Central Banks Ink Cross-Border Payments MOU
Fintech News
JULY 15, 2024
Bank Indonesia (BI) and the Bank of Korea (BoK) have signed a memorandum of understanding (MOU) on cross-border payments. The agreement aims to enhance cooperation on the interoperability of cross-border payments and establish a framework for seamless connectivity between Indonesia and South Korea.
Nium Boosts Cross-Border Payment Efficiency with Partior
Fintech News
NOVEMBER 5, 2024
Nium, a global payments infrastructure provider, announced a partnership with Partior , a blockchain-based clearing and settlement network, at the Singapore Fintech Festival 2024. The partnership allows financial institutions to connect with Nium for faster, more transparent cross-border payments.
SCB Emerges as First Thai Bank to Adopt Stablecoins for Cross-Border Payments
Fintech News
OCTOBER 16, 2024
Siam Commercial Bank ( SCB ), alongside its venture arm SCB 10X and Lightnet , has launched Thailand’s first cross-border payment system utilising stablecoins, according to CoinGape.
Swift Unveils AI Pilots to Combat Cross-Border Payment Fraud
Fintech News
JUNE 2, 2024
Swift, the global financial messaging cooperative, has announced two AI-driven experiments in collaboration with member banks to combat cross-border payments fraud which could potentially save the industry billions in fraud-related costs. Fraud cost the financial industry US$485 billion in 2023.
Nium, Kinexys by JP Morgan Enhance Cross-Border Payment Accuracy in Asia
Fintech News
NOVEMBER 6, 2024
Global payments infrastructure provider Nium has expanded its partnership with Kinexys by J.P. Morgan (formerly Onyx) to enhance cross-border payment accuracy in Malaysia, Thailand, and Hong Kong, This makes Nium the first fintech to provide data for validating bank account details in these markets.
Emirates NBD Taps Partior for Cross-Border Payments, Eyes Equity Stake
Fintech News
OCTOBER 23, 2024
Emirates NBD has entered a strategic agreement with Singapore-based blockchain platform Partior to improve its cross-border payment capabilities. The partnership will allow Emirates NBD to offer clients faster, around-the-clock payment processing through Partior’s blockchain-based platform for clearing and settlement.
Unpacking 3 Key Concepts From G20’s Enhanced Cross Border Payments Plan
Fintech News
JUNE 12, 2024
Rapid globalisation and available technological advancements have spurred the demand for more efficient, transparent, and accessible cross-border payment systems. The G20 Roadmap for Enhancing Cross-border Payments of the Financial Stability Board (FSB) also lists them as a key priority for enhancing such payments.
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.
Laos and Brunei Joins ASEAN’s Initiative for Real-Time Cross Border Payments
Fintech News
APRIL 3, 2024
The Central Bank of Brunei Darussalam (BDCB) and the Bank of the Lao PDR (BOL) have formally joined the Regional Payment Connectivity (RPC) initiative. predicts explosive growth in ASEAN’s digital payment market, reaching US$2 trillion by 2030. A report by Google, Temasek, and Bain & Co.
XTransfer Showcases Cross-Border Payment Solutions at SFF 2024
Fintech News
NOVEMBER 7, 2024
XTransfer, a B2B cross-border payment platform, made its debut at the Singapore Fintech Festival (SFF) 2024 as a Gold Sponsor. The company aims to expand its presence in Southeast Asia, offering secure and efficient payment solutions to SMEs in the region. ” said Bill Deng, Founder and CEO of XTransfer.
KASIKORNBANK, J.P. Morgan Set to Reduce Cross-Border Payment Times to Minutes
Fintech News
APRIL 24, 2024
Morgan, has introduced Project Carina, a new initiative aimed at accelerating cross-border payments through blockchain technology, according to RYT9. Morgan Set to Reduce Cross-Border Payment Times to Minutes appeared first on Fintech Singapore. Thailand’s KASIKORNBANK , in partnership with J.P.
Is Project Nexus a Model for Global Instant Cross-Border Payments?
Fintech News
JULY 3, 2024
The Bank for International Settlements (BIS) and its partners have revealed the comprehensive blueprint for phase three of Project Nexus, which seeks to address longstanding challenges in international money transfers by leveraging the power of domestic instant payment systems (IPS). How Does Project Nexus Work? trillion by 2025.
Ant International and BNP Paribas Partner to Enhance Cross-Border Payments in Europe
Fintech News
JULY 14, 2024
Ant International and BNP Paribas have entered a strategic partnership to enhance cross-border payment solutions for European merchants and consumers. This collaboration aims to streamline cross-border transactions, making them more efficient and accessible for businesses and consumers.
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.
Key Trends Shaping Cross-Border Payments in APAC
Fintech News
SEPTEMBER 10, 2024
A new report by Deloitte delves into the latest developments in the cross-border payment sector in Asia-Pacific (APAC), identifying four major trends reshaping the landscape and offering significant opportunities for merchants. trillion in consumer spending across channels in 2023.
De-banking in cross-border payments: Why the system needs reform
The Payments Association
JUNE 25, 2024
Banks are de-banking payment providers, causing major disruptions in cross-border transactions and impacting financial inclusion
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BIS and 7 Central Banks Launch Project Agorá for Tokenised Cross-Border Payments
Fintech News
APRIL 3, 2024
This initiative, named after the Greek word for marketplace, aims to delve into the potential benefits of tokenising cross-border payments to enhance the global monetary system’s efficiency. Being a member of the IIF is not a requirement to participate.
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. These have since gone live and new features like payment, and foreign currency exchange are currently in the works.
Nium Partners with Artajasa to Enhance Cross-Border Payments in Indonesia
Fintech News
APRIL 22, 2024
Global payments company Nium has announced a new partnership with Artajasa, a prominent Indonesian payment infrastructure provider. Featured image credit: Edited from Freepik The post Nium Partners with Artajasa to Enhance Cross-Border Payments in Indonesia appeared first on Fintech Singapore.
Mastercard Transforms Cross-Border Payments for Banks With Industry-First Innovation
Fintech Finance
OCTOBER 21, 2024
Mastercard introduced a new product innovation, Mastercard Move Commercial Payments, that will enable banks to facilitate near real-time, predictable and transparent commercial cross-border payments.
Xoom Enables Partners to Use PayPal USD for Faster Cross-Border Payments
Fintech News
NOVEMBER 20, 2024
Jean Henri Lhuillier “PayPal’s payment services, our extensive rails with PDAX and Philippine banks, and our vast network of physical touchpoints enable us to deliver to last mile areas that are in need of support. This initiative builds on PayPal’s earlier decision to allow U.S.
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MAS Reiterates Robust Controls on Cross-Border Payments to Combat Scams
Fintech News
AUGUST 7, 2024
Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong has reiterated the Monetary Authority of Singapore’s (MAS) ongoing efforts to combat cross-border payments scams. He noted that MAS has established real-time payment linkages with India, Malaysia, and Thailand for low-value 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.
Temenos Launches Enterprise Service to Power Faster, Lower-Cost Cross Border Payments
Fintech Finance
OCTOBER 22, 2024
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.
Singapore and China to Begin e-CNY Pilot, Explore Cross-Border Payment Linkage
Fintech News
DECEMBER 6, 2023
Singapore and China have agreed to collaborate on a pilot programme that uses the e-CNY, China’s central bank digital currency (CBDC), for cross-border transactions. This programme is designed to ease payments for travelers from both countries during their overseas visits.
Thunes and Circle to Facilitate Faster Cross-Border Payments with USDC Stablecoin
Fintech News
OCTOBER 29, 2024
Global payments network Thunes has announced a collaboration with Circle , the issuer of regulated stablecoins USDC and EURC. This partnership aims to enhance stablecoin liquidity management in cross-border payments. said Jeremy Allaire, Co-founder and CEO of Circle.
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 Bank of England has provided a strong commitment to the international programme through the development of its new Real Time Gross Settlement System (RTGS) which sits at the heart of the UK’s national payments infrastructure. The UK is increasingly falling behind the world order in this space, with the inability of Pay.UK
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Fabrick and TerraPay Partner to Innovate Cross-Border Payments in Europe
Fintech Finance
OCTOBER 8, 2024
Initially focused on the Italian market, this partnership will enable businesses to access a unified platform that streamlines payment processes, reduce operational costs, and ensure compliance with regulatory requirements. With TerraPay’s extensive global network spanning 7.5 billion bank accounts, 12 billion cards and 2.4
Macro Global and Trust Payments Expand Strategic Partnership to Offer Transformative Cross-border Payment Experience
Fintech Finance
OCTOBER 16, 2024
Macro Global , a leading global FinTech company, today announced a strategic partnership with Trust Payments , a leader in payments powering truly innovative customer-centric commerce solutions worldwide, which will make it simpler for cardholders to send money anywhere. uptime and next-day funding available.
Cross-Border Payments Could Further Enable APP Fraud, Says Payments Association Study
Fintech Finance
NOVEMBER 13, 2024
Authorised Push Payment (APP) fraud continues to be one of the most pressing concerns for financial services, the payment industry, law enforcement and the general public – and new developments in cross-border payments may be making it easier.
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.
dLocal partners with USI Money to provide cross-border payments
The Paypers
OCTOBER 22, 2024
dLocal has announced its partnership with USI Money in order to streamline cross-border payments for customers and clients in the region of Asia and Africa.
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