Payments Source

JUNE 9, 2017

International payments and risk-based services provider INTL FCStone says its London-based global payments division will become a non-bank participant in Swift's global initiative to improve the cross-border transaction landscape.

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SWIFT Payment Initiation Cross-Border Non-Bank 60

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.

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Cross-Border Payments Cross-Border SWIFT Payments 66

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.

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

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.

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

PYMNTS

FEBRUARY 28, 2019

SWIFT announced Thursday (February 28) that more than $40 trillion has been transferred over its gpi service last year. In a press release, SWIFT said its rapid adoption resulted in the share of cross-border messages using gpi having jumped to 56 percent at the end of last year compared to 15 percent at the beginning of the year.

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SWIFT Cross-Border Payments Cross-Border Payment APIs and Integration 46

PYMNTS

SEPTEMBER 6, 2018

SWIFT, Too. One might be forgiven for thinking that the news surrounding secure messaging provider SWIFT has been limited to speculation and headlines concerning the possibility of a parallel, Europe-focused, cross-border payment scheme. Ma is contributing $10 million to a fund that will be geared toward African entrepreneurs.

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SWIFT Payment Initiation Caps Cross-Border Payments 40

PYMNTS

MAY 24, 2017

With lack of visibility into the correspondent banking system a top challenge for B2B payments, SWIFT is rolling out a way for payers to track their cross-border payments in real time. The company announced Tuesday (May 23) that its Tracker is now available to help businesses track global payments as they occur.

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PYMNTS

MARCH 28, 2016

and fees associated with payments using CIPS are unclear. This makes China’s international payments play a bit unconvincing to some. But payments messaging service SWIFT has been brought on by China to help strengthen CIPS’ capabilities. China International Payment Service Corp.

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SWIFT Cross-Border Cross-Border Payments Payments 40

PYMNTS

OCTOBER 21, 2020

The feature will make use of SWIFT Global Payments Innovation (gpi) technology, and help over 240,000 corporate and small and medium-sized business (SMB) clients in Singapore and Hong Kong with tracking cross-border payments and collections in real time.

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Cross-Border Cross-Border Payments SWIFT International Payments 72

Fintech Finance

JUNE 5, 2024

iPiD (International Payment Identity), a pioneer in global fintech, announced it has secured USD 5.3 They are joined by global fintech venture funds QED Investors and Quona Capital, alongside existing partners Jungle Ventures, 1982 Ventures, Saison Capital and Resolution Ventures.

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PYMNTS

AUGUST 15, 2018

DBS India is the latest financial institution in the country to sign onto SWIFT’s global payments innovation (gpi) service, enabling corporate customers to track their cross-border payments in real-time. Reports in NewsBarons on Tuesday (Aug.

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SWIFT Cross-Border Cross-Border Payments Online and Mobile Banking 40

PYMNTS

OCTOBER 22, 2020

In today’s top news in digital-first banking, Unifimoney is joining forces with Nium for real-time money transfers, while Volante Technologies has landed Grupo Financiero Banorte as a new client to modernize cross-border payments. Unifimoney Partners With Nium for Real-Time Global Transfers .

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Cross-Border Payments Cross-Border Fed Federal Reserve 61

PYMNTS

FEBRUARY 20, 2018

In addition, innovators the world over are exploring how technologies like blockchain could address payments speeds and efficiency on an international level. The Committee on Payments and Market Infrastructures (CPMI) published a new report this month calling for cross-border payments to accelerate.

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

PYMNTS

APRIL 3, 2019

Separately, in other company news, Canadian FinTech Buckzy Payments announced its launch earlier this week, eyeing international payments through what it has termed a “safe, secure and convenient ecosystem.”. The company said it facilitates international payments, with funds reaching recipients in less than five minutes.

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Cross-Border Payments Cross-Border Blockchain Distributed Ledger Technology (DLT) 92

PYMNTS

JANUARY 21, 2021

Global financial services provider iBanFirst has launched a Payment Tracker that will offer transparent, real-time tracking services, according to a press release emailed to PYMNTS. In addition, the Payment Tracker will offer insights into potential delays of the payment.

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B2B Transactions Payee Payer 87

Fintech Finance

APRIL 10, 2024

The CHIPS network is the premier USD clearing and settlement system for international payment activity, with 95% of CHIPS payments being the USD leg of a funds transfer that begins or ends in another country, and the first high-value payment system in the United States to adopt an ISO 20022 message format. “We

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PYMNTS

AUGUST 1, 2019

In corporate payments, high-value transactions with tall demands for compliance, transparency, speed, efficiency and security aren’t just placing a burden on the businesses sending and receiving funds. International payments often contain unstructured and ambiguous transaction data, causing unnecessary delays and failed processing.

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Interoperability ISO 20022 Cross-Border ISOs 61

PYMNTS

JUNE 13, 2018

This week, reports in the Financial Times highlighted the competitive pressure between SWIFT and Ripple as the two companies rival for the top spot in the cross-border payments market. SWIFT, a payments messaging company, has introduced its Global Payments Innovation (GPI) initiative to boost innovation in global payments.

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Blockchain Distributed Ledger Technology (DLT) SWIFT Cross-Border Payments 44

PYMNTS

SEPTEMBER 19, 2017

The adage holds true in payments, especially, and manual processes are to blame. What follows are just a few of the important things every company should know about international payments solutions in today’s B2B payments landscape: 1. B2B Payments Via Banking Providers Are Slow And Expensive.

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PYMNTS

SEPTEMBER 24, 2019

For today’s payment service providers, accelerating payments across borders means either developing new infrastructure, or making use of existing rails, to move money around the world. Below, PYMNTS looks at the latest news in cross-border payments innovation as industry players complete, collaborate and innovate.

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SWIFT Cross-Border Payment APIs and Integration Cross-Border Payments 73

PYMNTS

APRIL 23, 2018

Businesses participating in the transaction must be serviced by banks that are part of SWIFT gpi. Corporate cross-border payment volumes have increased by 25 percent in the last 12 months,” said Navinder Duggal, DBS head of cash product management.

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Real Time Payments Cross-Border Payments Cross-Border SWIFT 46

PYMNTS

AUGUST 15, 2018

allies placed sanctions on the country, ordering the creation of the national payment system due to worries that it could be shut out of international payment systems. Russia is reportedly looking to use the platform to replace SWIFT ’s inter-bank communications network. Russia launched MIR after the U.S.

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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. Around The Global B2B Payments World.

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Cross-Border Innovation B2B Automation 94

PYMNTS

SEPTEMBER 26, 2016

While most international bank transfers take days to complete, this took just 20 seconds. According to FT , online shopping and the adoption of mobile payments have spurred growth in revenues from the payments sector, and McKinsey predicts that global payments revenues will increase from $ 1.8 trillion in 2019.

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Regulations FinTech Online and Mobile Banking Third-Party Service Provider 72

PYMNTS

SEPTEMBER 7, 2017

Payment System paper, in which the Fed outlined initiatives for the payments industry and its stakeholders to promote progress. For the Fed, progress means improving the speed, security and efficiency of the payments system, and to focus on international payments capabilities and promote collaboration within the field.

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PYMNTS

NOVEMBER 9, 2018

“The aim is not to force a cashless society, but to enable everyone to enjoy the convenience and efficiency of ePayments – simple, swift, safe and seamless,” said Education Minister Ong Ye Kung, a member of the Monetary Authority of Singapore, in a statement at the time. ”

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PYMNTS

NOVEMBER 8, 2017

Friction abounds in the world of B2B payments, especially amid international payments across far-flung supply chains. To that end, SWIFT debuted its global payments innovation initiative (gpi) earlier this year, a solution which looks to boost the infrastructure underpinning the movement of money on a global scale.

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PYMNTS

AUGUST 1, 2018

Leonardo Ramos, director of treasury FX dealing at FX and global payments firm EncoreFX, agrees, but told PYMNTS that he’s seen an increase in corporate treasurers rising to the challenge of complex FX management requirements. “FX FX markets are becoming more mature, and treasurers more sophisticated,” he said in a recent interview.

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Cross-Border Payments Cross-Border Risk Disputes 40

PYMNTS

JULY 25, 2018

Financial messaging company SWIFT, along with a number of corporates and banks, announced Wednesday (July 25) plans to begin testing a multi-bank standard to further improve the cross-border payments experience for multi-banked corporates. According to SWIFT , more than $100 billion in SWIFT gpi messages are sent each day.

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Cross-Border Payments Cross-Border SWIFT ISO 20022 41

PYMNTS

AUGUST 23, 2018

As noted by Business Insider this week, Germany’s Minister of Foreign Affairs Heiko Maas has said, via an article in a daily German newspaper (Handelsblatt), that “ it is indispensable that we strengthen European autonomy by creating payment channels that are independent of the United States. It is high time to reevaluate our partnership.”

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PYMNTS

AUGUST 16, 2019

Financial institutions are facing increased pressure to make cross-border payments fast and seamless as consumers grow used to instant P2P payments and such products in other sectors. Recent American Express research found that greater transparency is one of the top priorities for firms that regularly make international payments.

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Cross-Border Payments Cross-Border ISO 20022 ISOs 81

PYMNTS

JULY 31, 2019

According to the latest Smarter Payments Tracker , global payment usage is at an all-time high. international transactions per capita every year, up from 0.5 So, why do cross-border payments present so many challenges? Canadian payments network Interac is also investing in blockchain and DLT solutions.

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

PYMNTS

DECEMBER 10, 2018

Coverage includes Singapore’s Singtel rollout of international payment options in its Dash mobile app. In addition, PUC Berhad is teaming up with Revenue Group Berhad for online-to-offline (O2O) payments in Malaysia , and the United Kingdom’s Metro Bank is upgrading its mobile app to bring mobile payments to over 38 nations.

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Online and Mobile Banking IBAN International Payments SWIFT 67

The Fintech Times

FEBRUARY 19, 2024

They streamline and simplify international transactions by consolidating multiple layers of connections, contracts, KYC processes, and infrastructure into a unified interface, offering businesses efficient access to top global payments providers in a ‘plug and play’ fashion.”

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Cross-Border Payments Cross-Border Stablecoins Multi-Currency 69

PYMNTS

DECEMBER 4, 2018

The payment messaging entity SWIFT this past week began implementing its SWIFTNet Instant service that is tied to the Eurosystem’s TARGET Instant Payment Settlement service. The service, as has been reported, lets customers make instant payments from inside the Single Euro Payments Area (also known as SEPA ).

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PYMNTS

FEBRUARY 6, 2019

After a long, intensive crash course in payments, international money transfers, SWIFT , AML/KYC and a host of other financial service areas, it was clear to Nanu that the international payments market was in dire need of newer, better ideas. It’s not that the old systems are bad or wrong, though, he noted.

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PYMNTS

DECEMBER 18, 2019

New research from Tipalti, conducted by Levvel Research, found that when it comes to cross-border B2B payments, wire transfers remain the most common method (cited by 69 percent of survey respondents), despite the high fraud risks and sluggish speed of the tool. All of these payment methods come with their drawbacks.

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