Tokenization is gaining momentum on the global stage, and with commercial applications. The Bank for International Settlements announced Wednesday (April 3) that it is working in tandem with seven central banks — including the Federal Reserve Bank of New York — to test tokenization in a bid to improve cross-border payments....
Some of the sports betting world’s biggest players have reportedly turned their sights on Brazil. Companies such as DraftKings and MGM Resorts International are exploring entry into Latin America’s largest economy and its new, and regulated, online gambling market, Bloomberg News reported Wednesday (April 3). The report noted that Brazil —...
Interoperability in payments — paying anyone, anywhere, no matter the network — remains a Holy Grail in payments. And interoperability is a work in progress. But bit by bit and app by app, cross-border, cross-network and cross-wallet compatibility is being forged. This week, PayPal and Venmo...
Bloxcross and GoDirectPay have partnered to launch a mobile app for global payments. The new app enables payments in any currency from institutions to vendors and from individuals to friends, the companies said in a Thursday (March 28) press release. “We’re excited about removing traditional barriers and empowering...
European middle-market firms have the second-highest need for working capital solutions. That’s according to “The 2023-2024 Growth Corporates Working Capital Index: Europe Edition,” a PYMNTS Intelligence and Visa collaboration that looked at the working capital needs of growth corporates, or middle-market organizations generating annual revenues...
Digital nomads, a new breed of professionals, have emerged in recent years, reshaping the traditional employment landscape. These individuals have embraced a lifestyle that combines work with travel, leveraging technology to work remotely from anywhere in the world. As this concept gains momentum, countries worldwide,...
Amid a challenging economic landscape, the U.K.’s Financial Conduct Authority (FCA) has unveiled its Business Plan for the 2024-2025 fiscal year, marking the culmination of its three-year strategic roadmap. One of the focal points of this plan, particularly from a digital innovation perspective, is the imperative to combat financial crime. PYMNTS...
Many eCommerce merchants in the United States want to expand their businesses through cross-border sales, but cross-border transactions are not without pain points. As PYMNTS Intelligence’s “Cross-Border Sales and the Challenge of Failed Payments” revealed, faulty cross-border payments took a toll last year, costing U.S....
Alan Marquard, head of transfer solutions at Mastercard, told PYMNTS that remittances are ripe for continued transformation — to digital channels, and to digital wallets, which make international fund flows cheaper, faster and more convenient. Earlier this month, Mastercard announced a new connection with China’s...