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The current cross-border payment system imposes high costs on businesses and economies worldwide, stifling economic potential and limiting financial inclusivity. Any improvement in the efficiency of cross-border transactions would, therefore, lead to considerable benefits for businesses and individuals globally.
Looking ahead, he highlighted Thailand’s efforts to strengthen cross-border payment connectivity through projects like Nexus and mBridge. Security enhancements across digital financial systems are also a key priority as Thailand continues to support its growing digital economy.
PayPal has announced that its disbursement partners can now use PayPal USD (PYUSD) to settle cross-border money transfers via Xoom, its digital remittance platform. With this upcoming collaboration, we’ll continue to drive financial inclusion and help more Filipinos.”
FXC Intelligence, a data platform specializing in the cross-border payment and e-commerce sectors, has released its annual selection of the world’s most promising cross-border payments companies in 2024. Another company from Singapore featured on the list is Tazapay.
UOB and its wholly owned subsidiary UOB China have signed agreements to become direct participants of China’s Cross-border Interbank Payment System (CIPS). This strengthens their ability to support cross-border renminbi (RMB) transactions. As of May 2025, it connects 174 direct and 1,509 indirect participants globally.
The introduction of VND accounts aims to support cross-border transactions involving Vietnam by potentially speeding up settlement, simplifying payment reconciliation, and improving cash flow management for businesses operating internationally.
BIS aims to improve the efficiency of cross-border payments. They also provide impetus to industry-led efforts to create guidelines for faster cross-border payments. This panel will begin meeting in early 2025 and will continue to meet twice a year, in line with the ISO 20022 standard maintenance process.
The BIS Committee on Payments and Market Infrastructures (CPMI) announced further steps to promote the adoption of its harmonised ISO 20022 data requirements for more efficient processing of cross-border payments. The data requirements were published in a report to the G20 in October 2023.
Ripple announced it has added its US dollar-backed stablecoin, RLUSD, to its Ripple Payments platform to support enterprise cross-border transactions using the digital asset. Jack McDonald We’re seeing the market cap continue to grow, outpacing our internal projections. said Jack McDonald, SVP of Stablecoins at Ripple.
Card Corporation, a leading privately-owned financial services technology company specializing in mobile banking and card payments, is pleased to announce a new collaboration with Visa to introduce Visa Direct Cross-Border payments. Visa Direct provides users with a simple and more efficient way to transfer money internationally.
BAT-VC , a leading venture capital firm specializing in fintech and cross-border innovations, has announced a strategic growth investment in Payall Payment Systems. India remittances and trade continue to grow. India remittances and trade continue to grow. It comes as U.S./India Source: [link] The U.S. Source: [link] U.S.
This achievement underscores Paysend’s remarkable growth and solidifies its position in the cross-border payments market, which is projected to reach USD$ 60 trillion by 2030. Despite these achievements, Paysend considers them just the beginning of its journey, with an unwavering focus on continued growth and innovation.
1 B2B cross-border trade payment platform, and BNP Paribas , the European Union’s leading bank, have signed a landmark Memorandum of Understanding (MOU) to roll out comprehensive cross-border financial services during Money20/20 Europe in Amsterdam. XTransfer , the world’s leading and China’s No.1
Thunes , the Smart Superhighway to move money around the world, today welcomed Papara , Türkiye’s leading fintech company, as a new Member of its Direct Global Network, and allies to facilitate cross-border payments to and from Türkiye.
bank will soon accept payments via Alipay+, Ant International’s cross-border mobile payments and digitalization technology solutions, at over 500,000 POS terminals across Turkey, including Unifree Duty Free at Istanbul Airport. The integration will roll-out to merchants gradually in a phased approach.
Turkish customers using financial services provider, Papara , will now be able to send money into three billion mobile wallet accounts, four billion bank accounts and 15 billion cards in over 80 currencies and to more than 130 countries following a new partnership with Thunes , the cross-border payment infrastructure provider.
By integrating with RTGS.global’s instant settlement infrastructure, TransferMate will deliver seamless, real-time international payments for RTGS.global’s business customers, reducing reliance on traditional banking intermediaries and eliminating the risk associated with moving money cross-border.
In a move to make cross-border transfers more accessible and seamless for customers, HSBC Singapore has been working alongside money movement solutions provider, Dandelion. This enhancement tripled HSBC’s cross-border payment capabilities, adding 50 new destinations and 40 new currencies.
myTU , an AI-native, cloud-first digital bank, today announced the successful onboarding of Visa Direct and Mastercard Cross-Border Services into its payments infrastructure. The launch strengthens myTU’s position as a leading provider of fast, reliable cross-border payment solutions. CAGR through 2032.
In this exclusive Fintech Review interview, Adam Swartzbaugh, CEO of Almond FinTech , discusses transformative cross-border payment technology. Almond’s blockchain-driven Settlement Optimization Engine (SOE) addresses critical speed, transparency, and cost challenges in cross-border payments. Let’s dive in.
“This agreement will initially cover 15 European countries, collectively representing over 382 million inhabitants (84% of the European Union population and Norway), enabling them to continue using their preferred digital payment solutions both locally and across Europe, and provide an approach for markets with no solution so far.
The Pay-to-Card solution provides Thunes’ members with a streamlined, efficient option for cross-border payments, connecting them to a broad range of financial ecosystems through a single connection. said Floris de Kort, CEO of Thunes. said Floris de Kort, CEO of Thunes. said Chloe Mayenobe, President and COO of Thunes.
Community Your feed Latest expert opinions Groups Join the Community 23,479 Expert opinions 41,848 Total members 350 New members (last 30 days) 190 New opinions (last 30 days) 29,133 Total comments Join Sign in Stablecoin – CrossBorder Payment Driver?! Consumers enjoy the ability to make and receive instant payments.
venture capital firms known for backing global fintech giants like N26 and PayPal, Jingle Pay continues to disrupt the industry. This collaboration leverages Bank Alfalah’s extensive infrastructure to amplify Jingle Pay’s impact on cross-border payments and digital banking, advancing its ambitious vision for the MENAP region.
The speed of cross-border payments has significantly improved in recent years 90% of transactions over Swift, for example, reach end banks within an hour and most are automatically processed. Case Management is part of a suite of solutions available to Swift customers that help address friction in cross-border transactions.
We are committed to advance inclusive growth through AI-powered innovation and collaboration on cross-border travel, trade, commerce and inclusive finance. It is committed to driving inclusive growth through open collaboration and continuous innovation. connecting over 90 million merchants in 66 markets to 1.6
KCB and Bank of Kigali customers will now be able to send and receive cross-border payments using PAPSS. The service is fully operational and accessible via the banks mobile applications and branch networks, enabling seamless transactions across African borders. This service is fast, affordable, and reliable.
With firms spending roughly $120billion (S$154.2billion) on cross-border transaction fees, alternatives are being sought after. According to a new report from the Project Guardian FX industry group, implementing tokenised bank liabilities and shared ledgers in cross-border payments and FX is a viable solution.
The new Mastercard SME Cross-Border Report highlights how small and medium-sized enterprises in Latin America face high costs, delays, and limited transparency in international payments. What’s Next: Mastercard will continue working with financial institutions to modernize the payment infrastructure in Latin America.
Langbridge joined from Currencycloud where she played a key role in transforming the company from a UK-centric startup into a global cross-border payments company. In Europe, Wise Platform has added and grown partnerships as demand for its Correspondent Services solution continued to accelerate.
LSEG Risk Intelligence has launched its Global Account Verification (GAV) service in Asia-Pacific and Europe, the Middle East, and Africa, expanding efforts to enhance security in cross-border payments. The service is also available via API, allowing businesses to integrate it into existing workflows.
It can reportedly complete 63% of cross-border payments in under 20 seconds, enabling Standard Chartered to offer a seamless experience. We chose to partner with Wise Platform due to their extensive currency coverage and stellar cross-border payments experience they are known for.
In recent years, China and Africa have continued to deepen trade cooperation, with the scale of imports and exports rising rapidly. Despite this growth, African SMEs engaged in foreign trade face numerous challenges related to cross-border payments and fund collections. XTransfer , the world-leading and China’s No.1
Clapper, a rapidly growing social media platform, announces its partnership with TruBit , the leading digital asset payment solutions platform in Latin America , to enable seamless US-LATAM cross-border payments. companies to leverage TruBit’sStablecoin-driven Cross-border Solution for payroll, content creator payouts, and more.
In a significant move to strengthen its retail cross-border payments offering, leading global bank Standard Chartered and Wise Platform, Wise’s global payments infrastructure for banks, have announced a partnership, to power faster and cheaper international payments for the bank’s cross-border payment service, SC Remit.
Emerging trends such as cross-border payment systems and open banking initiatives are breaking down traditional barriers, fostering greater connectivity and efficiency in Asias financial landscape. However, the rapid progress comes with challenges. Real-time payments are surging across Asia-Pacific , are expected to grow from 49.2
As the company continues to grow its local team and expand its offerings, it remains committed to helping Kiwi businesses navigate the evolving financial landscape with confidence. The post Airwallex Expands Cross-Border Payment Capabilities for Kiwi Businesses appeared first on FF News | Fintech Finance.
Weyay Bank, through the new AFAQ service, not only does meet the evolving needs of its customers, but it also shapes the future of cross-border payments within the GCC. . “AFAQ” is set to transform how users engage with digital payments.
Given Taiwan’s prominent role in global trade and its economic growth, the expansion by Thunes aims to enhance the operational efficiency and security of cross-border payments, meeting the demands of the regions financial sector. per cent increase compared to January 2024.
His experience across cards, digital wallets, and cross-border payments makes him uniquely positioned to drive Tuum’s growth in the payments space. His expertise and vision will be invaluable as we continue to scale our platform and support financial institutions globally in modernizing their payments infrastructure.
This approval allows Gemini to provide cross-border money transfer and digital payment token services in Singapore. Gemini aims to continue its work with MAS to obtain the full MPI license. Gemini shared in a statement, “Singapore has long been the heart of our operations in APAC.
As the company continues to grow its local team and expand its offerings, it remains committed to helping Kiwi businesses navigate the evolving financial landscape with confidence. ” The post Airwallex Expands Cross-Border Payment Capabilities for Kiwi Businesses appeared first on FF News | Fintech Finance.
Skyee is a wholly owned subsidiary of Skyee Group a Chinese leading crossborder payment solution provider in China, Europe, North America and North Asia. Skyees receipt of the IPA from MAS underscores its strong reputation as a responsible digital financial technology company.
This approval positions Razer Gold to offer regulated payment services, including account issuance, domestic and cross-border money transfers, merchant acquisition, and e-money issuance. These services aim to bolster the platform’s capabilities and cater to the growing demands of Singapore’s digital economy and gaming sector.
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