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.

Central Bank 142

Central Bank SWIFT Digital Currency CBDC 142

Fintech Finance

OCTOBER 21, 2024

Over the past year Wise Platform , Wise’s global payments infrastructure for banks, financial institutions and larger enterprises, has further enhanced its product suite for partners and significantly expanded its global regulatory footprint.

Cross-Border 98

Cross-Border Global Payments Cross-Border Payments Multi-Currency 98

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

Payments Source

FEBRUARY 11, 2021

Pelican, a provider of payments and artificial intelligence technology, is supporting Swift's development of a new service for low-cost cross border payments across its Global Payments Initiative and high-speed rails.

SWIFT 113

SWIFT Cross-Border Payments Cross-Border Payment Initiation 113

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.

SWIFT 102

SWIFT Cross-Border Cross-Border Payments Faster Payments 102

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

Fintech Finance

OCTOBER 21, 2024

Thunes , the Smart Superhighway to move money around the world, today announced its proprietary Direct Global Network now provides banks with access to over 3 billion mobile wallets around the world via their existing Swift connectivity.

SWIFT 97

SWIFT Cross-Border Payments Cross-Border Financial Inclusion 97

PYMNTS

MARCH 21, 2019

SWIFT announced Thursday (March 21) that six Spanish banks, representing 85 percent of the cross-border payments market in Spain, have adopted SWIFT global payments innovation or gpi. SWIFT gpi enables banks to conduct end-to-end tracking of the cross-border payment.

Cross-Border Payments 66

Cross-Border Payments Cross-Border SWIFT Payments 66

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.

SWIFT 75

SWIFT Global Payments Innovation Cross-Border 75

Payments Source

JUNE 28, 2019

Naval Group, an international technology company specializing in naval defense systems, is among the first to complete a cross-border payment through Swift's global payments innovation early adopter program.

Cross-Border Payments 68

Cross-Border Payments Cross-Border SWIFT Payments 68

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

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.

Cross-Border Payments 81

Cross-Border Payments Cross-Border ISO 20022 ISOs 81

Fintech Finance

MAY 30, 2024

Swift has today announced two AI-based experiments in collaboration with its member banks, to explore how the technology could assist in combatting cross-border payments fraud and save the industry billions in fraud-related costs. That’s an incredibly exciting prospect, but one that will require strong collaboration.

Cross-Border Payments 64

Cross-Border Payments Cross-Border SWIFT AI 64

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.

Cross-Border Payments 73

Cross-Border Payments Cross-Border SWIFT Blockchain 73

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.

Cross-Border 60

Cross-Border Cross-Border Payments SWIFT Global Payments 60

Fintech News

FEBRUARY 5, 2024

Airwallex, a global payments and financial platform, has formed a multi-year collaboration with the McLaren Formula 1 team. The collaboration will see McLaren utilising Airwallex’s services to improve its supply chain payments across the Formula 1 Grands Prix circuit.

Global Payments 107

Global Payments Multi-Currency Cross-Border Treasury Management 107

PYMNTS

OCTOBER 21, 2020

DBS Bank has launched a real-time online tracking feature for cross-border collections, a press release says, which will give better digital services for corporate clients. DBS also plans to offer cross-border support in China, India, Indonesia, Taiwan and Vietnam as well in the next few months, the release says.

Cross-Border 72

Cross-Border Cross-Border Payments SWIFT International Payments 72

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

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.

ISO 20022 79

ISO 20022 SWIFT Cross-Border Payments Cross-Border 79

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? Mastercard has instead purchased cross-border transaction providers to expand its payments networks and offer similar solutions.

Cross-Border Payments 72

Cross-Border Payments Cross-Border Distributed Ledger Technology (DLT) Payments 72

PYMNTS

APRIL 18, 2019

Amid cross-border payments efforts, Ripple has gained some traction in recent days. The bank is using xCurrent to help with real-time remittance payments between Japan and Thailand, with withdrawal at ATMs, avoiding cash retrieval with agents. People use cash. Africa, Too.

Cross-Border 77

Cross-Border Cross-Border Payments SWIFT Authentication 77

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?

Cross-Border Payments 76

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

Payments Source

AUGUST 30, 2018

About half of Swift Global Payments Innovation transactions are credited within 30 minutes, many within seconds.

SWIFT 68

SWIFT Cross-Border FinTech Global Payments 68

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

Fintech News

OCTOBER 21, 2024

Global payments company Thunes has launched a new service that enables banks to send payments directly to mobile wallets worldwide. This eliminates the need for separate technical integration and allows for faster, more transparent cross-border payments.

Cross-Border Payments 118

Cross-Border Payments Cross-Border Financial Inclusion Underserved 118

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.

SWIFT 76

SWIFT Settlement Cross-Border Payments Cross-Border 76

PYMNTS

DECEMBER 20, 2018

When it comes to corporate transactions (and, well, payments in general), two inexorable trends include speed and distance. In this case, distance applies to cross-border activity. As has been reported, more than 50 percent of SWIFT gpi payments are made within 30 minutes, and roughly 100 percent are made within 24 hours.

Cross-Border 53

Cross-Border SWIFT Federal Reserve Fed 53

PYMNTS

DECEMBER 22, 2020

In the latest edition of the Global B2B Payments Playbook , PYMNTS analyzes how the pandemic is affecting the O2C processes of businesses everywhere, especially those making cross-border transactions. It also examines what tools companies can tap to make these payments swiftly and securely. About The Playbook.

Cross-Border 94

Cross-Border Innovation B2B Automation 94

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

Fintech Finance

OCTOBER 28, 2024

Nium, the leading global infrastructure for real-time cross-border payments, today announced the launch of Nium Verify , a real-time bank account verification solution for businesses and individual accounts, available across 50 markets.

Verification 98

Verification Global Payments Accounts Cross-Border 98

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.

ISO 20022 78

ISO 20022 ISOs SWIFT Cross-Border Payments 78

PYMNTS

MAY 13, 2020

While the pandemic has created unique circumstances of immeasurable strain and pressure on the global market, it’s also emboldened many to rise to the occasion and ensure business continues to flow with as little disruption as possible. Accelerating PPE Procurement. to multiple vendors in China to facilitate PPE procurement.

Cross-Border 81

Cross-Border Cross-Border Payments Facilitators B2B 81

PYMNTS

MARCH 14, 2019

For corporate treasurers, Manish Kohli, global head of payments and receivables at Citi , told PYMNTS’ Karen Webster, three concerns tend to top the list: geopolitical uncertainty, cyber threats and disruption resulting from the emergence of new business models in an interconnected global market.

Global Payments 77

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

PYMNTS

JANUARY 31, 2019

Financial messaging service SWIFT said this past week that it has fashioned a partnership with R3 , a blockchain startup. The partnership will integrate the R3 platform into the SWIFT global payments innovation (gpi) offering. I think that today, that is not what SWIFT is.”.

SWIFT 77

SWIFT Blockchain Cross-Border Payments Federal Reserve 77

PYMNTS

APRIL 1, 2019

The jockeying for cross border-payments continues, and SWIFT and Ripple continue to dominate the headlines. As noted, SWIFT has rolled out its gpi (short for global payments initiative). Ripple has xRapid, its cross-border payments solution.

Cross-Border 61

Cross-Border Distributed Ledger Technology (DLT) Cross-Border Payments Transactions 61

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. with Lloyds Banking Group and UBS.

Cross-Border Payments 59

Cross-Border Payments Cross-Border Visa FedNow 59