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.
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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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BIS Completes Project Mandala, Automating Cross-Border Transaction Compliance
Fintech News
OCTOBER 28, 2024
The Bank for International Settlements (BIS) and a group of central banks have successfully completed Project Mandala demonstrating automated compliance for cross-border transactions. We are optimistic about the potential of these early results to enhance cross border payments.”
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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.
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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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.
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.
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.
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.
Temenos and Mastercard to Expand Cross Border Payment Options for Banks
Fintech News
JUNE 4, 2024
Banking software company Temenos has announced a partnership with Mastercard to provide banks and their customers with more options for international money transfers. This partnership will integrate Mastercard Move , a comprehensive suite of money transfer solutions, into Temenos Payments Hub.
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.
SWIFT Launches Service For Low-Value Cross-Border Payments
PYMNTS
OCTOBER 1, 2020
1) that promises to improve the experience for small and medium-sized businesses (SMBs) and consumers who send low-value payments across borders. The Belgium-based cooperative said the initiative will enable customers to make faster, easier, predictable and competitively-priced payments worldwide.
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.
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. billion registered in 2022, consolidating an accelerated cross-border remittances growth. For these transactions, in 2024 3 Bitso Business registered a volume of more than $6.5
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.
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.
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.
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.
What Canadian Merchants Need to Know About International Payment Processing
Clearly Payments
OCTOBER 30, 2024
As Canadian businesses look to expand internationally, one crucial component of successful growth is handling cross-border payments smoothly and efficiently. As global online shopping grows rapidly, consumers expect seamless payment experiences.
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.
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.
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. The portfolio includes Mastercard Cross-Border Services and Mastercard Send.
Wise Platform Boosts Global Payments with Enhanced Infrastructure for Faster, Cheaper Cross-Border Solutions
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.
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Remittance Firm Lemfi Eyes Global Expansion With Visa Cross-Border Solutions Deal
Fintech Finance
MARCH 20, 2024
Visa Cross-Border Solutions , a Visa (NYSE: V) division specialising in cross-border money movement, and LemFi , a leading international payments company, have signed a deal that significantly expands their existing partnership globally. We’re so excited to be on that journey with them”.
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Amex Touts Success In Ripple Cross-Border Payments Pilot
PYMNTS
DECEMBER 12, 2018
In a renewed show of support for blockchain technology , American Express General Manager of Corporate Payments Carlos Carriedo has suggested that its pilot tests with partner Ripple to enable real-time cross-border corporate payments have been a success. Reports in Invest In Blockchain on Tuesday (Dec. in real time.
Swift Invites Fintech Pioneers to Join AI-Based Cross-Border Innovation Challenge
Fintech News
DECEMBER 11, 2023
Swift has announced the launch of its first-ever “The Innovation Challenges” that invites participants to create AI-based solutions aimed at improving the efficiency and security of cross-border transactions. Registration is now open until 15 January 2024. The competition is divided into two primary areas.
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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.
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. Customers can make payments via Bank of America’s SWIFT gpi solution. 10) press release. “Our 10) press release. and Ireland at SWIFT. .
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.
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. Over the course of a month, this new process is saving the McLaren Racing finance team half a day of work.
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.”
MSB and TerraPay Collaborate to Simplify and Enhance Cross-Border Money Transfers
Fintech Finance
SEPTEMBER 19, 2024
This collaboration will bring digital payment solutions and data capabilities to help MSB enhance efficiency and offer the best payment service experience to customers by bringing down costs and reducing transaction times. Along with the pace of digitization, the demand for real-time global payments is becoming increasingly urgent.
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Minimising FX risk in International payments: Strategies for 2025
The Payments Association
DECEMBER 16, 2024
International businesses face significant challenges when managing payments across borders. In addition to navigating multi-country operations and handling diverse currencies for payments and receipts, they must also address foreign exchange (FX) riskor exchange rate risk. process inefficiencies).
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. COVID-19’s Big Push .
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.
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.
Cambodia Now Accepts QR Payments from International Travellers via Alipay+
Fintech News
OCTOBER 14, 2024
Cambodia has rolled out the integration of Alipay+ with its national QR code system, KHQR for seamless international payments. More merchants are expected to be progressively added, further expanding payment accessibility in the country.
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TransferWise On The Faster Future Of Cross-Border Payments
PYMNTS
OCTOBER 16, 2020
Consumers send funds by tapping or swiping payment cards, clicking a few buttons on banking websites or payment apps, or keying details into online checkout pages, which payees receive via bank accounts or digital wallets. The money never actually crosses borders,” Lembo explained. Kicking Free Of Correspondent Banking.
Report: Helping Banks Speed Payments Cross Border And Make A Clean Correspondent Bank Break
PYMNTS
OCTOBER 15, 2020
Cross-border payments are a necessary, yet often frustrating part of the world economy, with international transactions prone to overlapping government regulations, excessive fees and slow processing times. Developments From Around The World of Payments Modernization. billion by the end of this year.
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.
Alibaba Bridges Cross-Border B2B Buyer-Seller Trust Gap
PYMNTS
DECEMBER 1, 2020
Legacy cross-border payment methods that may have been inconvenient but endurable in 2019 no longer serve firms’ needs in 2020. Last year saw 68 percent of companies using wire transfers to transact with international business partners, but more firms are now regarding this approach as too friction-heavy.
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