The global push for digital transformation is gaining momentum, with global institutions increasingly taking part in shaping the landscape. The recent World Bank’s inaugural Global Digital Summit, which convened leaders from government, the private sector and academia, highlights this trend. The three-day conference, held March...
Revolut’s new U.K. CEO wants to make sure London remains a FinTech hub. Speaking to Bloomberg News Wednesday (March 6), Francesca Carlesi warned that the British capital risks losing out to Paris and New York in the race to woo startups. This week, the report...
In 2020, the G20 leaders endorsed a roadmap to improve cross-border payments experiences and infrastructure. The goal was to make cross-border payments cheaper, faster, more transparent, and accessible by 2027 — and now, we are about halfway through that time horizon. In a sign of progress, the...
Brazil’s central bank is reportedly looking to take the country’s instant-payment system, Pix, to the global stage. With policymakers from the Group of 20 nations meeting in Sao Paulo to discuss faster and cheaper cross-border payments, the Central Bank of Brazil considers Pix to be a...
The Reserve Bank of India (RBI) asked the National Payments Corporation of India (NPCI) to consider One97 Communications’ request to become a Third-Party Application Provider (TPAP) for the Unified Payments Interface (UPI) channel. The move is meant to enable continued operation of the Paytm app...
Payment technology provider Numeral has launched support for Swift payments. This move enables Numeral’s customers to benefit from both Swift’s global reach and local payment schemes’ speed, lower cost and local reach, the company said in a Thursday (Feb. 22) press release. With Numeral’s addition of Swift, companies and financial...
Many U.S. eCommerce merchants prioritize international markets, but see higher failed payment rates in cross-border transactions than in domestic ones. These payment failures significantly impact their bottom line. PYMNTS Intelligence estimates that failed cross-border payments cost U.S. merchants at least $3.8 billion in lost sales...
When it comes to cross-border payments, there are necessary and unnecessary frictions. That’s according to Federal Reserve Governor Michelle Bowman, who discussed the challenges facing cross-border payments Thursday (Feb. 15) during a speech at the BCBS-FSI High-Level Meeting for Africa in Cape Town, South Africa. “As one...
GoTo has denied that it is in merger talks with Grab Holdings. The company said in a Tuesday (Feb. 13) filing that it “is not having any discussion on such matters,” Reuters reported Tuesday. Bloomberg reported Friday (Feb. 9) that GoTo and Grab Holdings — which are both Southeast Asian ride-hailing and food-delivery...