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The company operates a blockchain-based unified ledger for payments, enabling real-time clearing and settlement for instant liquidity and transparency, and overcoming challenges commonly associated with sequential processing in legacy payment systems, including settlement delays, limited transaction transparency and high operating costs.
BC Payments, a Singapore-based subsidiary of Luxembourg-licensed bank Banking Circle , has received in-principle approval (IPA) from the Monetary Authority of Singapore (MAS) for a Major PaymentInstitution (MPI) license. Banking Circle is regulated by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg.
This strategic partnership introduces international payments capabilities to Spendesk’s platform, allowing customers based in the European Economic Area and the United Kingdom to make cross-border transactions quickly, securely and at low-cost in 30 currencies, supporting invoice payments and expense reimbursements.
Currencycloud was offered In-Principle Approval to serve as a Major PaymentInstitution license holder in Singapore. The MPI license will also impact Singapore-based businesses, which will be able to leverage Currencycloud to help their customers make conversions and payouts in their own time zones and local currencies.
Singapore-headquartered paymentinstitution FOMO Pay has partnered with global financial services provider BNY to enhance USD payment services for corporate clients. The collaboration integrates BNY’s payment infrastructure with FOMO Pay’s offerings.
Transcard has partnered with Xodus Travel Services to enhance digital payment experiences with its SMART Suite platform. Financial Conduct Authority (FCA) to serve as a paymentinstitution in theU.K. Tennessee-based Transcard is bringing its payment orchestration capabilities north of the border this week.
Rising Demand for Correspondent Services Wise Platform’s Correspondent Services, launched at Sibos last year in collaboration with Swift , allows partners to send and receive international payments instantly.
Currencycloud, a Visa solution, is granted preliminary approval for a major payment licence from the Monetary Authority of Singapore (MAS). For businesses in Singapore, customers can make conversions and payouts in their respective time zones and local currencies.
Alchemy Pay, a provider of fiat-crypto payment solutions, is preparing to launch its Web 3.0 businesses with a compliant and efficient way to manage multi-fiat accounts, streamline cash flows, and facilitate conversions between fiat and cryptocurrency. Inspired by Ripple’s cross-border payment model, the Web 3.0
That, then evolved into multi-currency wallets and the ability to hold multiple currencies. In 2021, Visa acquired Currencycloud in a deal valued at US$963 million, with the primary aim of enhancing transparency, flexibility, and control in cross-border payments.
Firms operating in multiple currencies or across differing time zones may face trouble in ensuring funds are instantly deposited into safeguarding accounts. This inflexibility could hinder their ability to offer competitive, innovative solutions, such as multi-currency wallets or cross-border payment services.
Currencycloud, a Visa solution and the experts in simplifying business in a multi-currency world, has obtained an In-Principle Approval (IPA) for a Major PaymentInstitution (MPI) licence holder from the Monetary Authority of Singapore (MAS).
As Sumsub gears up for its participation in Seamless Asia, this partnership serves as a beacon for businesses seeking to navigate the complexities of digital payments verification. With rapid advancements in its multi-currency swaps and crypto payment services, dtcpay had to future-proof and automate verification processes.
Partnering with a leading local paymentsinstitution like EBANX allows us to navigate the complexities of the region’s payment landscape with ease. EBANX’s deep understanding of local payment methods and their robust infrastructure will enable us to better serve our clients and drive growth in this key market.”
Currencycloud , a Visa solution and the experts in simplifying business in a multi-currency world, has obtained an In-Principle Approval (IPA) for a Major PaymentInstitution (MPI) licence holder from the Monetary Authority of Singapore (MAS).
Bill Deng “In Singapore, we have received in-principle approval for a major paymentinstitution (MPI) license, and we will have the full license soon. The company provides a full-featured global payment platform designed to reduce global trade expenses and address gaps in the financial services available to SMEs.
The tool lets treasurers keep a single account for each currency, for example, or to group accounts based on product line or legal entity. That approval enables Neo to create a paymentinstitution to store, receive and send payments and invoices in multiple currencies for corporate users while operating its own core banking system.
Indian digital payments firm ToneTag secured $78 million in new funding. Latin America and the Caribbean Ripple teamed up with Portuguese currency exchange provider Unicmbio to support cross-border payments between Portugal and Brazil. German accounting, taxation, and payroll startup Integral raised $6.5 million (6.3
Their unified ecosystem replaces banks’ “creaky old core systems with a cloud-based powerhouse that streamlines debt collection workflows from start to finish” Company updates Global fintech Conotoxia introduces three more settlement currencies for multi-currency cards.
Partnering with a leading local paymentsinstitution like EBANX allows us to navigate the complexities of the region’s payment landscape with ease. EBANX’s deep understanding of local payment methods and their robust infrastructure will enable us to better serve our clients and drive growth in this key market.”
Its platform offers real-time payments, multi-currency account management, automated hedging, and competitive FX rates. Finmo secured a Major PaymentInstitution (MPI) license from the Monetary Authority of Singapore in August 2023. ” said Ganesh Rengaswamy, Co-Founder and Managing Partner at Quona.
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