Brazil’s central bank is reportedly dealing with pushback as it seeks greater autonomy. As Bloomberg News reported Wednesday (June 10), the bank is arguing that limited resources are hindering its oversight as the country’s financial system grows more complex. A constitutional amendment that would give Banco Central do...
As businesses demand greater visibility into settlement, foreign exchange, supplier payments and treasury operations, payment providers are making moves to expand beyond what might be termed their own borders. That backdrop may explain why Nuvei is exploring an acquisition of Payoneer, PYMNTS reported on Tuesday...
An entire generation of American small- to medium-sized businesses (SMBs) have been conducting multinational operations without multinational infrastructure. Findings in “The Cross-Border Opportunity: What Global Sourcing by US SMBs Means for Payment Providers,” a PYMNTS Intelligence and Mastercard collaboration, reveal that SMBs in the U.S. today are doing...
For banks and payment providers, the headline numbers surrounding cross-border payments appear encouraging. The PYMNTS Intelligence report “The Cross-Border Opportunity: What Global Sourcing by US SMBs Means for Payment Providers,” a collaboration with Mastercard, found that 57% of small- to medium-sized businesses (SMBs) in the...
Mastercard is taking part in an instant cross-border payment pilot in Europe. The pilot is being conducted in partnership with the central banks of Denmark and Sweden, using the TARGET Instant Payment Settlement (TIPS) platform, according to a Monday (June 1) news release. “Participation in...
Cross-border payments have long carried a premium because moving money across jurisdictions has been slow, fragmented and operationally complex. But a growing share of global commerce now relies on payment networks built to move money more quickly and predictably across borders. At the same time,...
Wise debuted its U.S. listing on Nasdaq Monday (May 11), while maintaining a secondary listing on the London Stock Exchange (LSE). The company’s shares were set to begin trading at 9:30 a.m. Eastern time, Wise said in a Monday press release. Wise enables the movement...
Nineteen countries, including the United States, have announced an agreement to not impose duties on cross-border electronic transmissions such as streaming music or films and software downloads among themselves, Reuters reported Thursday (May 7). They also invited other countries to join the pact. The announcement...
Watch more: Need to Know With Remitly’s Sebastian Gunningham Sending money across borders should be simple by now. We live in a world where you can order groceries from your couch and open a bank account on your phone. But for millions of people who...