Cross-border payments have long carried a premium because moving money across jurisdictions has been slow, fragmented and operationally complex. But a growing share of global commerce now relies on payment networks built to move money more quickly and predictably across borders. At the same time,...
Wise debuted its U.S. listing on Nasdaq Monday (May 11), while maintaining a secondary listing on the London Stock Exchange (LSE). The company’s shares were set to begin trading at 9:30 a.m. Eastern time, Wise said in a Monday press release. Wise enables the movement...
Nineteen countries, including the United States, have announced an agreement to not impose duties on cross-border electronic transmissions such as streaming music or films and software downloads among themselves, Reuters reported Thursday (May 7). They also invited other countries to join the pact. The announcement...
Watch more: Need to Know With Remitly’s Sebastian Gunningham Sending money across borders should be simple by now. We live in a world where you can order groceries from your couch and open a bank account on your phone. But for millions of people who...
Visa Canada launched a collaboration with remittance-focused FinTech platform RemitBee, according to a Wednesday (May 6) press release. The partnership is designed to integrate Visa Direct into RemitBee’s cross-border payment platform and facilitate real-time money movement in more than 190 countries and 150 currencies, the...
Domestic payment systems around the world are growing more instantaneous. And money movement in the blink of an eye is reframing the possibilities of commerce. Consumers in Brazil can transfer money in seconds using Pix, while businesses in India settle transactions instantly through UPI, and...
The operational backdrop is changing fast for global businesses. Their back offices are struggling to keep up. Cross-border commerce is where the strain shows most clearly. Moving capital used to be the top challenge for CFOs operating globally. Today, AI and global digitization have added...
Cross-border commerce has long been constrained by cost and its cousin, speed. That hierarchy, however, is increasingly shifting toward a new axis: counterparty risk. In today’s fragmented global economy, many chief financial officers are observing that risk has overtaken cost as the dominant concern. And...
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...