Swift is working with four U.K. banking giants to improve cross-border consumer payments. The initiative, announced Thursday (July 2), sees the global messaging network teaming with Barclays, HSBC, Lloyds and NatWest to improve international retail transfers. “This framework represents an important step forward for the UK payments ecosystem,” Adam Bealey, Swift’s chief executive for...
Watch more: The Digital Shift With OpenPayd’s Iana Dimitrova For years, the goal in global payments was simple: connect businesses to more rails. The pitch was always speed, lower cost, broader reach. The problem was access. Now access is no longer the problem. The problem...
Chainlink is reportedly joining several dozen international banks on a cross-border stablecoin payments project. The goal is to bring about real-time, stablecoin-based cross-border payments for foreign-exchange trades within a year, an executive from the blockchain infrastructure company told CoinDesk in an interview Tuesday (June 23)....
Zelle network operator Early Warning Services plans to launch a proprietary U.S. dollar-backed stablecoin as part of its strategy to expand Zelle person-to-person digital payments beyond the United States. The ZelleUSD (ZLUSD) stablecoin will support future international payment capabilities, giving U.S. consumers another way to send money...
Small and medium-sized businesses that once sourced domestically now purchase inventory, components and services from factories and vendors scattered across Asia, Europe and Latin America. The challenge lies not in finding suppliers abroad but in paying them efficiently. PYMNTS Intelligence research conducted with Mastercard found...
Global commerce has shrunk the world. Now, the world is shrinking global commerce as the cross-border payments market is entering a new phase of consolidation. Global FinTech Nuvei’s planned $2.75 billion acquisition of financial services platform Payoneer, announced Monday (June 15), underscores a broader shift...
Nigeria has become sub-Saharan Africa’s leader in cross-border stablecoin payments. That’s according to an International Monetary Fund (IMF) report published Tuesday (June 16), showing that the country accounts for 60% of stablecoin inflows since 2019. “What began as a niche technology has become a meaningful...
China is reportedly preparing the commercial launch of a digital currency-focused cross-border payment program. The new platform, dubbed “mBridge,” is being backed by the central banks of China, Hong Kong, Saudi Arabia, Thailand and the United Arab Emirates, the Financial Times (FT) reported Saturday (June...
Watch more: Need to Know With Mastercard’s Pratik Khowala There was a time when small businesses rarely sold outside their neighborhoods, much less their home state. That time is gone. Today’s Main Street small- to medium-sized businesses (SMBs) are increasingly globally connected. “SMBs make cross-border...