Global financial messaging network Swift said earlier this year that it was working with 25 financial institutions (FIs) and application providers on a “proof of value” initiative focused on improving front-end interactions, where the lower-end value transactions (defined as payments below the $100,000 threshold) is...
Cross-border payment platform dLocal can now facilitate Pix payments directly within the Open Finance ecosystem, without redirecting users to bank apps. The company gained this ability by becoming a certified Payment Initiation Service Provider (PISP) in Brazil, authorized by the Central Bank, dLocal said in a Tuesday...
The U.S. is working to keep the dollar as the dominant currency in global usage at a time when new cross-border payment arrangements are emerging, Department of the Treasury Assistant Secretary for International Finance Brent Neiman said Tuesday (Nov. 19). In remarks prepared for delivery at a conference hosted...
PayPal will begin letting its disbursement partners use PayPal USD to settle cross-border money transfers. The new service will be offered through PayPal’s Xoom cross-border payments business, according to a Tuesday (Nov. 19) press release. Philippines-based financial services firm Cebuana Lhuillier and Africa’s Yellow Card...
Cross-border trade is a huge business, totaling roughly $190 trillion in 2023. Sourcing goods and services globally and establishing supply chains that transcend borders have become part of the corporate DNA. However, navigating the complexities of cross-border payments remains a challenge as businesses grapple with...
As earnings season draws to a close, we’ve seen wide-ranging discussions of the consumer, of spending trends, lending trends, tap to pay and BNPL, of cross-border payments and remittances. The digital innovations and momentum are showing up in the business-to-business (B2B) space, too, particularly as...
FinTech Ant International and Singapore bank OCBC are collaborating to enhance cross-border fund settlements. The goal of the partnership is to explore innovations in tokenized deposits for global treasury management through Ant International’s Whale platform, according to a Tuesday (Nov. 5) news release. “This collaboration...
PayPay, a QR payments operator in Japan, is expanding its partnership with Alipay+ to widen its merchant coverage network across Japan. More than 3 million merchants will be able to join the global payment ecosystem via the tie-up, allowing tourists to pay securely using their...
Money movement across borders promises to speed the flow of funds between consumers and corporations if done digitally. But commerce is marked by complexity and the specter of fraud on the global stage. The basic principle behind cross-border payments — namely that the payee information...
