The next sanctions shock for a multinational may not arrive as the name of a supplier appearing on a government blacklist. It could arrive as a payment that suddenly stops working. In a Monday (Oct. 5) alert, the Treasury Department’s Office of Foreign Assets Control...
Conventional wisdom says large corporations should dominate cross-border payments. They have global banks, treasury teams, negotiated FX rates, sophisticated treasury management system (TMS) platforms and local accounts. But the 2026 payments infrastructure may be creating a strange inversion where a small business can get a...
Watch more: Need to Know With Spreedly’s Nick Daley Selling in another country can force a merchant to find out how much growth its payments infrastructure can actually support. New markets bring local payment preferences, new providers and different transaction economics, while every connection adds...
A payment moving from one country to another passes through banks, clearing systems and payment networks that operate under different rules. The recipient information used to check the payment and bolster security can be just as fragmented. Payee verification connects some of those far-flung systems....
Citi now enables its bank clients to access multiple cross-border instant payment markets through a single account structure, the bank said in a Tuesday (Sept. 29) press release. This solution also eliminates the need for these bank clients to have separate local banking relationships, bilateral agreements or local technical infrastructure, according...
BNY has debuted a solution that lets banks send cross-border payments to retail digital wallets. The Pay-to-Wallet capability combines the bank’s global payments capabilities to support cross-border bank-to-wallet payments across approved markets and corridors, BNY said in a Monday (Sept. 28) news release. “Digital wallets are becoming...
Swift has launched an effort designed to make consumer cross-border payments as easy as domestic transactions. “Today, millions of consumers use systems such as Bizum, PayID from AP+, and Pix to send money quickly and easily within their own markets without needing to know the recipient’s...
Saudi Arabia has reportedly withdrawn from China’s mBridge digital currency/cross-border payments program. That’s according to a report Sunday (Sept. 20) by the Financial Times (FT), which says the program has drawn controversy in the U.S. due to concerns that participating countries could use it to...
Watch more: Need to Know With Sebastian Fantini of EBANX Payment fragmentation can slow cross-border expansion when each new market and each new method mean a new integration project. Bundling things up can simplify it all. The underlying transaction is familiar, like a software subscription,...