Cross Border Commerce

Cross-border Payments
CHIPS ISO 20022 Migration Means Smoother Cross-Border Activity
April 11, 2024

A migration to a new standard — a common payment processing language — for cross-border payments is no mean feat. Legacy tech, the shift to straight-through processing, staggered industry timelines and compliance deadlines have all posed challenges to banks and to the payments systems themselves.  ...

Cross-border Payments
Airwallex Debuts Borderless Visa Card for Canadian Businesses
April 10, 2024

Airwallex has launched the Borderless Visa Card for businesses in Canada. The virtual card, announced Wednesday (April 10), is issued by Peoples Trust Company and lets Canadian businesses make payments anywhere Visa is accepted. “Operating across borders is table-stakes for modern businesses, whether it’s paying a supplier overseas or...

Cross-border Payments
Capturing the $250 Trillion Cross-Border Payments Opportunity 
April 09, 2024

With every innovation, the world gets a little bit smaller and interconnected.  And with the news Monday (April 8) that Kyriba and Onyx, a J.P. Morgan business unit, are collaborating to better streamline cross-border payments, global expansion and payments innovation are top of mind for businesses of all shapes, sizes and...

Cross-border Payments
dLocal and Papaya Global Partner on Global Payroll Solution
April 09, 2024

Cross-border payment platform dLocal is partnering with payroll and payments platform Papaya Global to drive global workforce payments. Through the partnership, the companies aim to enable global firms to pay employees worldwide in local currencies in a timely fashion, according to a Tuesday (April 9)...

Cross-border Payments
TerraPay Gets Payments License From Singapore’s Central Bank
April 08, 2024

Money transfer firm TerraPay received a major payment institution license in Singapore. The approval by the Monetary Authority of Singapore means that TerraPay is either licensed or approved in 30 markets around the world, according to a Monday (April 8) press release. “As the heart of thriving international trade and...

Cross-border Payments
Swan Taps Wise to Enable International Payments for European Companies
April 05, 2024

European embedded finance firm Swan has integrated Wise Platform to enable its clients to send and receive money from more than 190 countries.  With Wise Platform, which is Wise’s infrastructure offering for financial institutions and enterprises, Swan’s clients can enable their customers to send and receive funds in more...

Cross-border Payments
Currency Matching Key to Effectively Competing in International B2B Markets 
April 04, 2024

A business-to-business (B2B) payment is never just a payment. The global B2B marketplace, with an annual payments volume over $100 trillion, is supported by a myriad network of workflows and data; many of which still rely on legacy, paper-based processes. And the inherent complexity of...

Cross-border Payments
Xoom Users Can Now Make Transfers With PayPal Stablecoins
April 04, 2024

Cross-border money transfer service Xoom now lets users make transactions with PayPal’s USD stablecoin. Xoom, owned by PayPal, said in a Thursday (April 4) press release that the new funding option lets users in the United States convert the stablecoins (PYUSD) in their linked PayPal Cryptocurrency Hub to U.S. dollars....

Cross-border Payments
Central Banks and BIS Test Tokenization to Speed Cross-Border Payments   
April 03, 2024

Tokenization is gaining momentum on the global stage, and with commercial applications. The Bank for International Settlements announced Wednesday (April 3) that it is working in tandem with seven central banks — including the Federal Reserve Bank of New York — to test tokenization in a bid to improve cross-border payments....