As faster payments schemes take shape around the globe — in the U.S., the FedNow® Service is the latest example — realizing the full potential of speed and lower costs demands interoperability. Regulations and frameworks are still emerging, and there are a number of private...
Nilesh Dusane, global head of institutional payments at Amazon Web Services (AWS), told Karen Webster that there’s one common refrain among financial institutions (FIs) and payment companies. It’s a refrain that’s almost universal, no matter where AWS’s customers are, what functions they serve or which...
Payments service provider dLocal has launched a partnership with British remittances firm ACE Money Transfer. The companies say their collaboration, announced in a news release Tuesday (Oct. 24), is designed to improve payout services across the Asia-Pacific (APAC) region and Europe, the Middle East and Africa (EMEA). According to...
Papaya Global, a leading provider of global workforce management solutions, has introduced a new tool for cross-border payments. The company’s Workforce Wallet allows employers to make global direct deposits easily and efficiently from one centralized place, according to a Thursday (Oct. 12) blog post. This solution...
When it comes to cross-border payments, patience is a virtue — but fees are a reality. That’s because moving money between nations has long been plagued by inefficiencies, high costs and slow transaction times. These intractable problems have for decades hindered the global economy’s flow...
Transforming the world takes time, even when innovations aim at just one part of it. That, at least on the surface, appears to be the story with crypto and blockchain technology, which have together been honing their real-world utility within the traditional financial services and...
China’s largest property development company has halted trading after its chairman was reportedly detained. As the Wall Street Journal reported Thursday (Sept. 28), law enforcement in China believes Hui Ka Yan, chair of Evergrande, may have committed crimes and have apparently detained him as they investigate. PYMNTS has...
Nigeria, Africa’s largest economy, has all the tools for success in today’s connected global economy. But despite its economic prowess, restricted access to foreign currencies remains a major hurdle that is hampering international transactions, curtailing investments, and limiting individuals’ abilities to tap into global opportunities. ...
MoneyGram plans to launch a non-custodial digital wallet that will offer new ways to send and receive cross-border payments. The wallet is set to debut in the first quarter of 2024 and will allow users to seamlessly move from fiat currency to digital currency and back...