Watch more: Need to Know With Bank of America’s AJ McCray The greatest obstacle to faster cross-border payments is no longer moving money. It is delivering the same certainty, visibility and immediacy that consumers and businesses already assume when payments stay within national borders. That...
Bank transfers and electronic payments from Saudi Arabia to the United Arab Emirates are in some cases being blocked, while those going through other corridors are operating as usual, Bloomberg reported Tuesday (July 7), citing unnamed sources. Both businesses and individuals have encountered these problems...
For small businesses buying goods overseas, choosing a payment provider is becoming less about habit and more about finding the right tool for the job. The PYMNTS Intelligence report “The Cross-Border Opportunity: How Payments Innovation Can Help SMBs Go Global” found that while traditional banks...
Swift is working with four U.K. banking giants to improve cross-border consumer payments. The initiative, announced Thursday (July 2), sees the global messaging network teaming with Barclays, HSBC, Lloyds and NatWest to improve international retail transfers. “This framework represents an important step forward for the UK payments ecosystem,” Adam Bealey, Swift’s chief executive for...
Watch more: The Digital Shift With OpenPayd’s Iana Dimitrova For years, the goal in global payments was simple: connect businesses to more rails. The pitch was always speed, lower cost, broader reach. The problem was access. Now access is no longer the problem. The problem...
Chainlink is reportedly joining several dozen international banks on a cross-border stablecoin payments project. The goal is to bring about real-time, stablecoin-based cross-border payments for foreign-exchange trades within a year, an executive from the blockchain infrastructure company told CoinDesk in an interview Tuesday (June 23)....
Zelle network operator Early Warning Services plans to launch a proprietary U.S. dollar-backed stablecoin as part of its strategy to expand Zelle person-to-person digital payments beyond the United States. The ZelleUSD (ZLUSD) stablecoin will support future international payment capabilities, giving U.S. consumers another way to send money...
Small and medium-sized businesses that once sourced domestically now purchase inventory, components and services from factories and vendors scattered across Asia, Europe and Latin America. The challenge lies not in finding suppliers abroad but in paying them efficiently. PYMNTS Intelligence research conducted with Mastercard found...
Global commerce has shrunk the world. Now, the world is shrinking global commerce as the cross-border payments market is entering a new phase of consolidation. Global FinTech Nuvei’s planned $2.75 billion acquisition of financial services platform Payoneer, announced Monday (June 15), underscores a broader shift...