Digital payments have sparked interest in how traditional banking institutions, particularly in the U.S. and U.K., are partnering with FinTech companies. This is crucial in the area of cross-border payments, where consumers and businesses want faster, more efficient and more cost-effective methods for transferring funds...
Digital remittance company Leap Financial has integrated the global money movement solution Visa Direct to streamline the direct delivery of funds to eligible cards, bank accounts and digital wallets worldwide. With this integration, Leap Financial’s white-label digital remittances platform enables financial and non-financial institutions to offer seamless...
Cross-border payments startup Nala is attempting to raise $120 million in its next funding round. The Tanzania-based company aims to reach that goal by selling an equity stake of 10% to 15%, Bloomberg reported Wednesday (Feb. 26). Nala founder and CEO Benjamin Fernandes said the...
Ace Money Transfer is partnering with Mastercard Move, Mastercard’s suite of money movement solutions. Through Mastercard’s platform, Ace’s customers in Australia, Canada, Europe and the United Kingdom can make transfers to India, Denmark, Norway, Sweden and other countries in the Single Euro Payments Area (SEPA),...
Lili added international wire payments to its financial platform designed for small business owners. The company’s international wire payments solution enables its small business customers to both receive and send international payments in 27 countries across North America, Europe and Asia, Lili said in a...
Just a few years ago, cross-border payments were inefficient at best and filled with friction at worst. They were opaque and took days to settle. Additionally, managing foreign exchange costs was fraught with peril for executives looking to tap into new markets or expand their...
The world of cross-border transactions is rapidly changing and growing. Digital wallets are emerging as consumers’ preferred method, outpacing traditional bank transfers and money services. This shift isn’t just about convenience. In fact, it reflects a fundamental change in how people send and receive money...
For decades, wholesale cross-border payments have meant snail-paced bank wires, money squirreled away across sprawling correspondent banking networks, and the accumulation of enough fees that Scrooge McDuck could swim in them. This has long made cross-border payments a headache for corporate treasurers and finance teams,...
Just one year after its launch, HSBC’s cross-border payments mobile app is no more. A Yahoo Finance report on Thursday (Jan. 23) quoted a spokesperson for the bank: “Following a strategic review of Zing within the HSBC Group and after careful consideration, we have made...
