Cumbuca, a Y Combinator-backed FinTech, is betting that global payment players want into Brazil faster than the licensing process allows. In a Wednesday (Dec. 3) news release, the company said it has launched a “proxy” service that lets international firms initiate payments in Brazil under...
Travel is an experiential sector where every detail matters. A small surprise can either spoil or enhance the experience. This has put pressure on payments innovation. As global travel continues to rebound post-pandemic, industry leaders are reimagining what it means to pay seamlessly across borders....
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued an alert Friday (Nov. 28) reminding money services businesses (MSBs) that they should be vigilant in reporting suspicious activity around cross-border transfers from people without legal status in the United States. The alert said that while...
Over the coming weekend, global payments infrastructure will cross an invisible but meaningful threshold. And there’s no going back. After years of planning and incremental rollout phases, Swift’s existing MT messaging standard for cross-border payments will finally be retired Saturday (Nov. 22), giving way entirely...
Félix said will leverage Mastercard Move to make cross-border remittance flows between the United States and Latin America faster, more transparent and more secure. The integration of Mastercard’s global payment infrastructure and Félix’s cross-border remittance platform will streamline the remittance process, the companies said in...
The past decade has transformed cross-border payments from a slow, opaque process into one that is faster, cheaper and increasingly transparent. Yet the dream of seamless global transactions that are instant and low-cost remains aspirational. The biggest culprit is a patchwork of regimes that has...
Traditional cross-border payment systems weren’t built for today’s global workforce. Millions of creators, freelancers and on-demand workers now expect to be paid instantly. And in many countries with volatile fiat currencies, they want that payment in digital dollars. These micropreneurs don’t want to wait days...
Watch more: Live Roundtable: AWS and Convera’s Vishal Arora and Sudipto Das Cloud migration is no longer the endgame for payments companies. It’s the starting line. When global business payments giant Convera spun out as an independent company, it faced a challenge familiar to many legacy enterprises....
Traditional bank hours and currency conversions are becoming even less of a hindrance for cross-border payments. Citi has expanded its Citi Token Services (CTS) platform to support euro transactions and opened a new operational center in Dublin. In a press release Friday (Nov. 7), Citi...