Many eCommerce merchants in the United States want to expand their businesses through cross-border sales, but cross-border transactions are not without pain points. As PYMNTS Intelligence’s “Cross-Border Sales and the Challenge of Failed Payments” revealed, faulty cross-border payments took a toll last year, costing U.S....
Alan Marquard, head of transfer solutions at Mastercard, told PYMNTS that remittances are ripe for continued transformation — to digital channels, and to digital wallets, which make international fund flows cheaper, faster and more convenient. Earlier this month, Mastercard announced a new connection with China’s...
With Wednesday’s (March 20) announcement about Visa’s expanded partnership with LemFi, the focus is on cross-border payments. The cross-border payments landscape itself is a dynamic and fragmented one, full of unique local frictions that present a number of obstacles to foreign businesses looking to capture market share outside of...
Visa Cross-Border Solutions and LemFi have expanded their existing partnership globally. This partnership brings together the capabilities of Visa Cross-Border Solutions, which is a Visa division specializing in cross-border money movement, and LemFi, which is a U.K.-headquartered remittance firm, the companies said in a Wednesday (March 20) press release...
Trustly and MoneyGram International have partnered to enable millions of MoneyGram users in Europe to make cardless international money transfers. With the service enabled by this collaboration, users can pay directly from their bank accounts when sending international money transfers through MoneyGram Online (MGO), the companies said...
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...
