Circle, the FinTech firm behind the USDC stablecoin, said Monday (April 21) that it plans to start rolling out a new cross-border payments network in May. The Circle Payments Network (CPN) will connect financial institutions and enable real-time settlement of cross-border payments using USDC, EURC and other...
A surprising divide is emerging as digital wallets cement their status in the United States’ payments ecosystem. While American consumers confidently use these wallets to send and receive money across borders, often at rates that outpace other countries, small to mid-sized businesses (SMBs) are dragging...
Citizens and residents of the United States are the world’s largest remitters of funds to friends, families and employees abroad, with U.S. consumers, often migrants and foreign workers, sending $93 billion to recipients in foreign countries in 2023, the latest World Bank data shows. Increasingly,...
Cross-border payments may sound simple, but their reality is anything but. Cracking the code for sending payments between countries, whether for individuals or businesses, has taken up much of the focus of innovation across payments for at least the past few decades. As the payments...
MoneyGram has implemented Mastercard Move, a portfolio of money transfer solutions, to facilitate digital money movement domestically and across borders. With this integration, MoneyGram customers can use any U.S.-issued Mastercard card to send funds to 38 eligible receiving markets and receive money through nearly 10...
Singapore stands at a crossroads in the digital payments revolution. While digital wallets are reshaping how businesses handle cross-border transactions, a noticeable gap persists in consumer awareness. This disparity, particularly when compared to the persistent dominance of traditional payment methods, presents both a challenge and...
There’s no such thing as a silver bullet. But that hasn’t stopped the payments marketplace from looking for one when it comes to navigating the thorny challenge of cross-border payments. “When businesses want to move enterprise-grade money across borders — typically north of $500,000 —...
Payroll payments provider Papaya Global reportedly added Citibank as a sponsor bank, joining the company’s other sponsor, JPMorgan Chase. The relationship with Citi will enable Papaya Global to expand to new geographic regions, Payments Dive reported Monday (March 10), citing its interview with Papaya Global CEO Eynat Guez. With the addition...
While digital wallets are gaining traction globally, a surprising divide has emerged in the United Kingdom. Businesses rapidly adopt digital wallets for international transactions, but consumers lag. This raises a critical question: Why aren’t more consumers embracing these wallets if they offer such efficiency? The...
