Blockchain company Ripple has undertaken what it calls a major expansion in Brazil. “Powered by new product capabilities and accelerating customer adoption, Ripple is now the only solution in the region capable of serving institutions across the full spectrum of financial needs — from cross-border...
The head of the Financial Stability Board (FSB) is warning against friction in cross-border payments. Andrew Bailey, who leads the risk watchdog, said in a speech Thursday (March 12) that governments need to move forward with reforms to their international and domestic payment systems or...
Mastercard began rolling out a suite of solutions designed to help banks support the cross-border payment needs of small- to medium-sized businesses (SMBs) in the Asia-Pacific region. The new Mastercard Global Commerce Suite for Small Businesses offers multicurrency support, real-time visibility and seamless integration, the...
A new Swift payments framework for retail transactions will begin its rollout by the end of June. The framework is designed to bring greater speed, affordability and predictability to cross-border retail payments, Swift said in a Thursday (March 5) press release. An initial group of...
Payment services provider Worldline is preparing to expand the availability of its new omnichannel retail platform across Europe. The company first launched the One Commerce platform in the United Kingdom in January, according to a Jan. 7 press release. Next, Worldline will display the platform...
While cross-border trade itself remains in a period of upheaval, the global payment options supporting cross-border commerce have never been more advanced and innovative. While FinTechs have redefined speed and usability, launching new corridors, pricing models and APIs, banks are re-engineering their global plumbing and...
Is Europe too reliant on international payments companies such as Visa and Mastercard? The head of the European Payments Initiative (EPI) thinks so, according to a Monday (Feb. 9) interview with the Financial Times (FT). “We are highly dependent on international [payment] solutions,” said Martina...
Visa clients around the world will soon be able to send cross-border remittances and business-to-consumer payouts to more than 95% of UnionPay debit cardholders in mainland China. This offering will be enabled by a new agreement between the two companies, and it is expected to...
Two growth stories have traditionally defined cross-border commerce in the 21st century. The first is the unstoppable reach of the multinational corporate, the large enterprises that simply have no choice but to expand outward and bring with them all the processes and banking relationships that...