—Cross-border transactions are growing rapidly, thanks to digital transformations and new international settlement rails. But there still exist a host of international payment frustrations and reconciliation frictions due to ongoing and historical round-peg, square-hole operational bottlenecks between those businesses transacting across borders with each other....
ACI Worldwide has launched a new solution for sending low-value cross-border, real-time payments. The provider of real-time payments software has added Swift Go to its cross-border payments offering, enabling financial institutions to allow consumers and small- to medium-sized businesses (SMBs) to send cross-border payments directly from their bank account, ACI...
PayPal is reportedly mulling a sale for its cross-border payment unit Xoom. The digital payments company has been working “on the sales process in recent months,” and has hired Goldman Sachs for assistance, The Information reported, citing unnamed sources. An attempted sale could be a sign that Elliott Management, which purchased...
Slow processing times, high banking fees, and complex and overlapping regulatory requirements continue to create pain points for individuals sending and receiving remittances worldwide. And although technology has simplified cross-border payments over the years, Bhairav Trivedi, CEO at U.K.-based Crown Agents Bank (CAB), says not...
Paysend has launched its cross-border payments solution for small businesses in the United States. The expanded availability of Paysend Business follows its successful implementation in the United Kingdom in 2022, the company said in a Thursday (May 11) press release. “We know that cross-border payments can be a pain point for...
An estimated $5 billion is lost annually in intra-African trade. And apart from the high trade costs associated with operating in a highly fragmented region, Terence Naidu, founder and CEO at Truzo, an Africa-focused digital escrow service, says a lack of trust among traders has...
Corpay and Sunflower Bank, N.A. have teamed up to help clients manage cross-border payments and currency risk. With this collaboration, Sunflower Bank’s clients and their companies will be able to use Corpay’s cross-border solutions to help mitigate foreign exchange (FX) exposure and manage their global...
Barclays and TransferMate are collaborating on a new international receivables solution for U.K. businesses. By leveraging TransferMate’s global payments infrastructure, the new solution will allow Barclays clients operating in British pounds (GBP) to invoice their customers in more than 60 currencies and 67 countries and...
Like other industries, the pandemic saw remittance customers shifting from traditional brick-and-mortar environments to the digital space, with some customers using an app to transfer funds and check exchange rates for the first time. According to Jose Ivars-Lopez, U.K. and Ireland country manager at Ria,...
