In 2020, the G20 leaders endorsed a roadmap to improve cross-border payments experiences and infrastructure. The goal was to make cross-border payments cheaper, faster, more transparent, and accessible by 2027 — and now, we are about halfway through that time horizon. In a sign of progress, the...
Brazil’s central bank is reportedly looking to take the country’s instant-payment system, Pix, to the global stage. With policymakers from the Group of 20 nations meeting in Sao Paulo to discuss faster and cheaper cross-border payments, the Central Bank of Brazil considers Pix to be a...
Payment technology provider Numeral has launched support for Swift payments. This move enables Numeral’s customers to benefit from both Swift’s global reach and local payment schemes’ speed, lower cost and local reach, the company said in a Thursday (Feb. 22) press release. With Numeral’s addition of Swift, companies and financial...
Many U.S. eCommerce merchants prioritize international markets, but see higher failed payment rates in cross-border transactions than in domestic ones. These payment failures significantly impact their bottom line. PYMNTS Intelligence estimates that failed cross-border payments cost U.S. merchants at least $3.8 billion in lost sales...
When it comes to cross-border payments, there are necessary and unnecessary frictions. That’s according to Federal Reserve Governor Michelle Bowman, who discussed the challenges facing cross-border payments Thursday (Feb. 15) during a speech at the BCBS-FSI High-Level Meeting for Africa in Cape Town, South Africa. “As one...
Papaya Global will use a Super Bowl commercial to showcase the launch of its artificial intelligence (AI)-powered platform for executing worker payments. The new workforce payments platform provides an end-to-end solution, the FinTech company in the workforce payments industry said in a Tuesday (Feb. 6) press release. Embedded payments...
One of the biggest challenges to account for in cross-border payments is, well, the accounting. It’s a silent but often deadly snarl that can tangle up business’ plans to tap into the potential of international expansion. That’s because cross-border payments, traveling across far-flung tax codes...
Mangopay, a payment infrastructure provider for marketplaces and platforms, and Sprinque, a B2B payments platform, partnered on B2B cross-border payments. The collaboration aims to offer merchants and marketplaces a customizable payments infrastructure, enabling them to tap into B2B cross-border opportunities, the companies said in a...
In an era of disruptive technologies, cross-border payments are quietly undergoing a revolution. The emerging paradigm centers around cost-effective, real-time payment options with maximum visibility for both sender and receiver. Beyond driving international sales, cutting-edge payment solutions provide a range of benefits to CFOs and...
