Oracle Banking Payments announced Wednesday (Oct. 7) that it is supporting SWIFT’s latest service to speed effortless global cross-border payments for small- and medium-sized business (SMBs) and consumer markets. “We see great potential for banks that are competing against FinTechs and alternate networks when it...
SWIFT, a global provider of secure financial messaging, announced a new service Thursday (Oct. 1) that promises to improve the experience for small and medium-sized businesses (SMBs) and consumers who send low-value payments across borders. The Belgium-based cooperative said the initiative will enable customers to...
Launching into an emerging market can be a risky move for any global business. While spend in developing markets isn’t typically as high as, say, in the U.S., consumers in these geographies are quickly opening up lucrative possibilities for global merchants thanks to the availability...
SWIFT, a global provider of secure financial messaging services, announced Wednesday (Sept. 16) that its cross-border platform will be retooled to enable financial institutions to deliver instant transactions. Over the next two years, the Belgium-based cooperative said the initiative will provide transaction management services. The...
Flywire will work with Mastercard to provide discounted foreign exchange rates on cross-border tuition payments for students, according to a press release emailed to PYMNTS. The offer will be available for any school around the world offering Flywire as a payment method for international tuition...
Liberia-based mobile financial services firm Lonestar Cell is partnering with WorldRemit to offer customers mobile remittances straight to their Lonestar Cell MTN Mobile Money (MoMo) accounts, according to a press release. The service will be available free of charge, and the release stated it will...
The pandemic, and the international trail of economic chaos it has wrought, has thrown the growing importance and relevance of readily available digital remittance products into stark relief worldwide, Volopa Director Jay Wissema told Karen Webster, as both senders and receivers have been forced by...
Mexico obtained $3.53 billion in remittances in July to reach the third-highest point recorded, marking a rise of over 7 percent from $3.29 billion in remittances it had received in July 2019, Reuters reported. Remittances are a significant support for the country’s economic climate and...
No matter where you look, the pandemic has put up serious barriers to economic growth – and at the same time, has forced business models to pivot from in-person, face-to-face interactions toward digital offerings. And for at least some segments of payments (and the companies...
