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...
In the history of finance, few tools are as fundamental as the all-mighty ledger. This holds particularly true as it relates to the timeline and trajectory of cross-border payments innovations. From the Age of Discovery and the emergence of bills of exchange, to the cross-border...
The Bank for International Settlements (BIS) says it has demonstrated that regulatory compliance can be embedded in cross-border transaction protocols. BIS announced Tuesday (Oct. 29) it made this discovery when working on its Project Mandala, a collaboration with four central banks. “Mandala is pioneering the compliance-by-design approach to...
DailyPay added an international remittance feature to its platform. The new addition is powered by the financial technology solution ReadyRemit by Brightwell and Visa Direct. It lets users send money to friends and family worldwide “at the tap of a button” without needing to wait...
Thunes has debuted a solution designed to help customers offer faster cross-border payments. The payment infrastructure company’s Pay-to-Card offering, announced Monday (Oct. 28), is designed to connect members of the Thunes network to 15 billion cards worldwide, including those offered by Mastercard, Visa and China’s UnionPay. “This new...
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...