Russia reportedly aims to create a new system for cross-border payments between BRICS countries. A report that includes this plan was published ahead of an annual BRICS summit that will be held Oct. 22-24, Bloomberg reported Friday (Oct. 11). BRICS includes as members Brazil, Russia,...
Citi says its Token Services for Cash program has gone live after a pilot phase. The new commercial solution, announced Thursday (Oct. 10), processes multimillion-dollar transactions and offers clients “24/7, always-on” cross-border liquidity and payments between participating Citi branches. The tool was created with a...
Citi and Mastercard have teamed up to enable cross-border payments to Mastercard debit cards. The companies are launching this capability in 14 receiving markets across Europe, Asia, Africa, Latin America and U.S. domestic transfers, and plan to expand it further in the future, they said...
Blockchain FinTech OwlTing says it will begin employing Visa Direct to power real-time, cross-border payments. The agreement lets OwlTing potentially reach more than 8.5 billion endpoints in Visa’s payment global network, the Taipei-based company said in a Tuesday (Oct. 1) news release. “With Visa Direct, OwlTing can allow its...
PayPal launched its PayPal Complete Payments platform in China, saying the solution will streamline payment and receivables processes for businesses of all sizes and support their cross-border transactions. Chinese businesses can use the platform to build trust with their customers and offer a variety of...
The bigger the connected economy gets, the smaller the effort it takes to join. In today’s increasingly interconnected world, cross-border commerce is no longer a fringe activity confined to multinationals. Small- to medium-sized businesses (SMBs), startups and even freelancers are now part of the global...
Some of the world’s biggest banks and payments firms are teaming to rethink cross-border payments. As Bloomberg News reported Wednesday (Sept. 18), the Bank for International Settlements (BIS) has recruited the likes of JPMorgan Chase, Deutsche Bank, UBS, Visa and Mastercard for its Agora project. That project, first announced in May, explores the development of...
Revolut is reportedly looking to expand its business into Gulf Cooperation Council (GCC)-member countries. The British FinTech has submitted applications to become an electronic-money institution and offer remittances in the United Arab Emirates (UAE) and is seeking ways to expand in Saudi Arabia, Bloomberg reported Friday (Sept....
Stripe saw its cross-border payments volume in Asia increase by over 30% last year. The payments company offered the update as part of Stripe Tour Singapore, its annual product showcase for the region, according to a Wednesday (Aug. 28) press release. “Building on that momentum,...
