Reuters reported late Wednesday that a Moscow court has frozen $372 million in assets held by Bank of New York Mellon and JPMorgan Chase. The funds were held in accounts at the Russian branches of Citibank and JPMorgan Chase Bank. The court order, issued Wednesday...
Blockchain FinTech OwlTing says it will begin employing Visa Direct to power real-time, cross-border payments. The agreement lets OwlTing potentially reach more than 8.5 billion endpoints in Visa’s payment global network, the Taipei-based company said in a Tuesday (Oct. 1) news release. “With Visa Direct, OwlTing can allow its...
PayPal launched its PayPal Complete Payments platform in China, saying the solution will streamline payment and receivables processes for businesses of all sizes and support their cross-border transactions. Chinese businesses can use the platform to build trust with their customers and offer a variety of...
The bigger the connected economy gets, the smaller the effort it takes to join. In today’s increasingly interconnected world, cross-border commerce is no longer a fringe activity confined to multinationals. Small- to medium-sized businesses (SMBs), startups and even freelancers are now part of the global...
Some of the world’s biggest banks and payments firms are teaming to rethink cross-border payments. As Bloomberg News reported Wednesday (Sept. 18), the Bank for International Settlements (BIS) has recruited the likes of JPMorgan Chase, Deutsche Bank, UBS, Visa and Mastercard for its Agora project. That project, first announced in May, explores the development of...
Revolut is reportedly looking to expand its business into Gulf Cooperation Council (GCC)-member countries. The British FinTech has submitted applications to become an electronic-money institution and offer remittances in the United Arab Emirates (UAE) and is seeking ways to expand in Saudi Arabia, Bloomberg reported Friday (Sept....
Stripe saw its cross-border payments volume in Asia increase by over 30% last year. The payments company offered the update as part of Stripe Tour Singapore, its annual product showcase for the region, according to a Wednesday (Aug. 28) press release. “Building on that momentum,...
Banking Circle and Skydo have partnered to provide payment solutions for Indian businesses that operate in international markets. This collaboration will enable the small and medium-sized businesses (SMBs) using Skydo’s cross-border payments platform to offer their buyers in the United Kingdom and the European Union...
BNY and Commonwealth Bank of Australia (CBA) launched a cross-border payments partnership. The collaboration lets businesses and individuals who receive international payments from BNY customers get paid in as little as 60 seconds, no matter who they bank with, according to a Thursday (Aug. 22) press...