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...
Clara, a Latin American FinTech company, has launched a payment account in Brazil. The new payment account offering complements Clara’s existing range of products, which includes corporate cards and expense management solutions, Reuters reported Tuesday (Nov. 28). With this expansion, clients in Brazil will gain access to...
Yanilsa Gonzalez-Ore, North America Head of Visa Direct and Global Ecosystem Readiness, and Remitly’s CEO Matt Oppenheimer told PYMNTS cross-border money transfers are ripe for app-driven, digital modernization. “Global money movement has not yet evolved to the levels expected and needed by the world,” said...
Compared to the global standard of five to six hubs, moving money between Nigeria and China or Singapore can require navigating through up to 16 hubs before the payment reaches the last mile, said Jess Anuna, founder and CEO of Klasha, a global cross-border payments...
European Central Bank President Christine Lagarde said the European Union (EU) needs a “European SEC” that will replace the region’s currently fragmented supervision with a more top-down approach like that of the United States Securities and Exchange Commission. This is necessary because the EU faces capital markets challenges on...
Statrys, a financial platform for corporates and business owners, has introduced its SWIFT Payment Tracking feature to enhance global business transactions. This tool allows real-time tracking of cross-border payments, offering businesses speed, transparency and control in their financial operations, the company said in a Wednesday...
Mangopay, a payment infrastructure provider for marketplaces and platforms, has launched an end-to-end foreign exchange (FX) solution that aims to expand its cross-border capabilities and support clients’ global expansion. The FX solution offered by Mangopay provides platforms with a flexible and modular cross-border strategy, the company said...
Paysend, a card-to-card and international payments platform, and Western Union, a provider of cross-border money movement and payment services, have partnered on cross-border money transfer services. This collaboration aims to provide seamless and efficient cross-border money transfer capabilities to customers using Western Union’s digital platform, the...