For merchants and FIs alike, cross-border payments can be a significant struggle. Compliance with governmental regulations, currency fluctuations and other factors can result in slow processing times, causing inconvenience for customers, says Vikram Modi, head of Visa Direct’s global platform and solutions. In this month's...
Global payments revenues are at an all-time high, and experts predict that they could even climb to be a $2 trillion industry by 2020. Cross-border payment revenues currently account for approximately $200 billion, a significant slice of the payments pie. Currently, there are 0.7 international...
Cross-border, B2B payments generated approximately $125 billion in revenue last year, a figure that continues to rise. FIs and FinTechs need to be ready to support their business clients with quick, transparent payment methods and easy currency conversions if they want to remain competitive, but...
Facebook’s Libra crypto push brings together 28 companies (so far), across industries, to shape its charter and go-to-market approach. However, what do these founding members, with different priorities, ultimately want from its supporting infrastructure? In the latest Smarter Payments Tracker, Libra Association members, including online...
As payments become smarter, they will require a new underlying ecosystem to support them. The urgency to develop more efficient infrastructures is being driven by the rise of the global economy, with banks and businesses seeking solutions that enable them to move money between borders...
European banks have increasingly used faster payments since the November 2017 launch of EBA CLEARING’s RT1 instant payments system. Even as financial institutions (FIs) embrace faster payment rails, though, they face an age-old problem: fraud. Keeping transactions secure can be especially tricky when they are...
As the need for speed increases worldwide, banks and other financial players are adapting payments to work smarter — not harder. Faced with a growing number of transactions to process in real time, payment service providers (PSPs), financial institutions (FIs) and FinTech firms also need...
The following Deep Dive explores what’s driving interest in push payments, and where the technology may smooth out and secure consumer payments, B2B supplier transactions and B2C loans and payroll.
For many Indian migrant workers, sending remittances involves the anxiety-inducing experience of giving cash to couriers or postal services and hoping for the best. In the new Smarter Payments Tracker, Ritesh Pai, YES BANK’s chief digital officer, discusses how India’s emerging faster payment systems, including...
