OpenPayd has integrated its universal financial infrastructure with Circle Payments Network (CPN), enabling businesses to make near-instant cross-border fiat payments, OpenPayd said in a Tuesday (Aug. 25) press release. OpenPayd’s universal financial infrastructure enables businesses to use a single integration to access domestic payment rails,...
A global business shouldn’t have to choose between local checkout for its customers and manageable treasury for its chief financial officer. For years, the cross-border payments industry has worked toward the goal of making money move like information. FinTechs and banks have attacked that friction,...
Blockchain-powered bank N3XT has secured approval from Wyoming regulators to let customers use its digital token to transact with foreign counterparties, Bloomberg reported Monday (Aug. 17), citing its interview with N3XT Founder Scott Shay. This approval will enable N3XT to offer its customers instant overseas transfers to not only the...
Real-value testing (RVT) of tokenization of wholesale cross-border payments demonstrated an average time from payment initiation to settlement of about 80 seconds, according to a report by the Bank for International Settlements (BIS). Project Agorá, a public-private collaboration exploring tokenization of wholesale cross-border payments, conducted...
U.K.-based remittance provider ACE Money Transfer has launched a cross-border payments partnership with Visa. The collaboration will see the companies promote account funding transactions to support faster and more seamless money transfers, ACE said in a Monday (July 13) news release. The combination of ACE...
Global financial messaging platform Swift says its blockchain-based ledger is ready for use. Seventeen banks are preparing live pilot transactions on the ledger, which supports 24/7 cross-border payments with tokenized deposits, Swift announced Thursday (July 9). “With our new ledger capability, we’re extending the trust and stability of established...
Watch more: Need to Know With Bank of America’s AJ McCray The greatest obstacle to faster cross-border payments is no longer moving money. It is delivering the same certainty, visibility and immediacy that consumers and businesses already assume when payments stay within national borders. That...
Bank transfers and electronic payments from Saudi Arabia to the United Arab Emirates are in some cases being blocked, while those going through other corridors are operating as usual, Bloomberg reported Tuesday (July 7), citing unnamed sources. Both businesses and individuals have encountered these problems...
For small businesses buying goods overseas, choosing a payment provider is becoming less about habit and more about finding the right tool for the job. The PYMNTS Intelligence report “The Cross-Border Opportunity: How Payments Innovation Can Help SMBs Go Global” found that while traditional banks...