It’s no surprise that businesses and consumers continue to seek alternatives to traditional, costly and time-consuming methods for international payments, driving a growing demand for faster, cheaper and more efficient cross-border payment solutions. As their needs evolve, both consumers and corporates want their cross-border payment...
Hong Kong and Thailand are bridging the gap between their economies. The two countries launched a new cross-border QR code payment system, known as the FPS x PromptPay Link, according to a Monday (Dec. 4) press release. The collaboration between the Hong Kong Monetary Authority...
Money movement makes the world go ‘round. But moving money around the world has historically challenged organizations looking to expand internationally and do more business in overseas markets. As companies navigate different regulatory regimes, compliance and fraud are ever-present issues, and fragmented payment structures increasingly...
Global messaging platform Swift says cross-border payments to Europe can reach their destination in seconds. That’s due to this week’s launch of the European Payment Council’s (EPC) One-Leg-Out Instant Credit Transfer scheme (OCT Inst), which went live this week, the organization announced Thursday (Nov. 30). ...
The promise of embedding payments in cross-border commerce is a multitrillion-dollar opportunity, Amit Agarwal, Global Co-Head of Payments and Receivables, Treasury and Trade Solutions (TTS) at Citi, told Karen Webster. But for financial institutions (FIs) and various providers, capturing that opportunity is a challenge — and...
Yanilsa Gonzalez-Ore, North America Head of Visa Direct and Global Ecosystem Readiness, and Remitly’s CEO Matt Oppenheimer told PYMNTS cross-border money transfers are ripe for app-driven, digital modernization. “Global money movement has not yet evolved to the levels expected and needed by the world,” said...
Compared to the global standard of five to six hubs, moving money between Nigeria and China or Singapore can require navigating through up to 16 hubs before the payment reaches the last mile, said Jess Anuna, founder and CEO of Klasha, a global cross-border payments...
Statrys, a financial platform for corporates and business owners, has introduced its SWIFT Payment Tracking feature to enhance global business transactions. This tool allows real-time tracking of cross-border payments, offering businesses speed, transparency and control in their financial operations, the company said in a Wednesday...
Mangopay, a payment infrastructure provider for marketplaces and platforms, has launched an end-to-end foreign exchange (FX) solution that aims to expand its cross-border capabilities and support clients’ global expansion. The FX solution offered by Mangopay provides platforms with a flexible and modular cross-border strategy, the company said...
