Swift has successfully tested a global trade interoperability solution in collaboration with BNY Mellon, Deutsche Bank and four electronic bills of lading (eBL) platforms. This solution has the potential to revolutionize the use of electronic trade documents, the provider of secure financial messaging services said in a Thursday...
Flutterwave has acquired 13 money transmission licenses in the United States, allowing for faster, more affordable and secure money transfers between the U.S. and Africa. These licenses expand Flutterwave’s reach to a total of 29 U.S. states, the payments technology company said in a Thursday...
B2B banking platform ZilBank has launched a new feature that makes it easier for Mexican businesses, entrepreneurs and freelancers to pay U.S. vendors, affiliates, employees and others. The software-as-a-service (SaaS) platform now allows Mexican users to open U.S. payment accounts online with passports, a statement...
Western Union says it has expanded its network of concept stores in Europe. The cross-border money transfer provider announced Wednesday (Dec. 6) that it now has 100 concept stores and “company-owned hubs” across the continent, with plans to “significantly” expand that number through 2025. “The network represents an...
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...
