French payments network CB reportedly hopes to lead a Europe-based campaign against Visa and Mastercard. That’s according to a report Sunday (April 19) from the Financial Times (FT), which says this effort is happening as European Union (EU) officials express concern that the two payment...
The global payments system is entering a messy middle phase where innovation is abundant, coordination is scarce and geopolitics are reshaping the rules in real-time. The scale alone underscores the stakes. The global cross-border payments market has reached $238 billion and is projected to grow...
Watch more: Live Roundtable With Bank of America, FWC26, Visa In the United States, it is easy to think the Super Bowl is the biggest sporting event on earth. It is the loudest thing on the calendar here. But the FIFA World Cup™ plays in...
Latin America’s digital economy is advancing at a steady pace, yet much of the region’s commercial activity still operates beyond formal financial channels, leaving payments firms to contend with a fragmented and, at times, largely cash-based merchant landscape. The informal economy is a structural feature...
Moving money across borders still means navigating a patchwork of correspondent banks, local clearing systems and compliance checks that slow transactions, inflate costs and introduce uncertainty to every step. The demand for improvement is already there. PYMNTS Intelligence data indicate that 14% of U.S....
U.K. FinTech Wise is reporting a surge in cross-border transactions ahead of its Nasdaq listing. In a trading update Monday (April 13), the company says those transactions jumped 26% during its fourth quarter to 49.4 billion pounds ($66.2 billion) and 11.3 million active customers. “We are making good progress...
The Federal Reserve Board proposed Wednesday (April 8) that U.S. banks and credit unions be allowed to use intermediaries to transfer funds through the FedNow® Service. This would mark a change from the current rules, in which a transfer of funds sent through the FedNow Service can include...
TikTok is reportedly seeking permission to provide lending and payment services in Brazil. The social media platform has filed for two licenses with the Brazilian central bank, Reuters reported Tuesday (March 31), citing two sources with direct knowledge of the matter. The first would let TikTok serve as an...
Foreign exchange (FX) startup OpenFX has raised $94 million in a new funding round. The company’s Series A round, announced Tuesday (March 31), comes as it works to use stablecoins for faster cross-border transactions. Writing on the company blog, Founder and CEO Prabhakar Reddy compared...