The Federal Reserve on Wednesday (Sept. 16) raised the target range for the federal funds rate by a quarter percentage point to 3.75% to 4%, saying inflation remains elevated. In its accompanying implementation decision, the Fed raised the interest rate paid on reserve balances to...
The payments industry has largely converted its cross-border messaging infrastructure to ISO 20022. Its next challenge is getting structured address data to match the new messaging standard. Swift postponed the next major milestone in that effort Thursday (Aug. 27), extending the timetable for eliminating fully...
French payments network CB reportedly hopes to lead a Europe-based campaign against Visa and Mastercard. That’s according to a report Sunday (April 19) from the Financial Times (FT), which says this effort is happening as European Union (EU) officials express concern that the two payment...
Watch more: Live Roundtable With Bank of America, FWC26, Visa In the United States, it is easy to think the Super Bowl is the biggest sporting event on earth. It is the loudest thing on the calendar here. But the FIFA World Cup™ plays in...
If the Super Bowl is America’s annual excuse to overinvest in snacks and LED televisions, the FIFA World Cup is the planet’s far more glamorous version of the same impulse. It is football, yes. But it is also a travel surge, a luxury hospitality showcase,...
Cross-border payments are among the most complex transactions in finance. They’re an intricate choreography of data, regulation and risk management that must work seamlessly and securely. As artificial intelligence transforms how money moves, the question confronting global institutions like HSBC is not merely how fast...
Watch more: Need to Know If businesses can’t see their cash, they might as well not have any. That’s especially true against today’s volatile global backdrop, where multinational companies are rethinking how they move money across borders. “One thing that all treasury organizations are looking...
Payoneer now enables real-time, 24/7 global intracompany transfers via Citi’s tokenized liquidity and payment platform, Citi Token Services. With this capability, Payoneer can transfer funds between its global accounts in participating branches and currencies with greater speed, automation and transparency, the companies said in a...
Riva Money raised $3 million in a pre-seed funding round to support the global rollout of its blockchain-powered technology that facilitates global money transfers. The company will use the new funding to roll out this solution in Europe, Asia and North America, expand its operations...