Fintech Finance

JANUARY 11, 2024

Faster Payments Council (FPC) , a membership organization devoted to advancing safe, easy-to-use faster payments in the United States, today published its latest research report, titled The Practicalities of Cross-Border Payments in a Faster Payments World.

Cross-Border Payments

PYMNTS

AUGUST 16, 2019

Cross-border payments are expected to surge over the next few years as the economy becomes increasingly global and interconnected. The latest Smarter Payments Tracker looks at the infrastructure developments that are making cross-border payment systems faster, more seamless and interoperable.

Cross-Border Payments

The Fintech Times

FEBRUARY 28, 2024

When you think about financial technology, it is easy to think about solutions which are making payments faster, easier and more accessible. Having explored the evolution of cross-border payments to date, we now turn our attention to the biggest barriers that may be limiting and slowing the growth of the space.

Cross-Border Payments

PYMNTS

SEPTEMBER 24, 2020

Reducing fees for remittances might push price points low enough that more consumers could resume sending money home, though, and some researchers believe that money transfer service providers could make such price adjustments if they are able to reduce their own expenses through more robust and cost-effective regulatory compliance measures. .

Regulatory Compliance

PYMNTS

FEBRUARY 20, 2018

Individual jurisdictions around the globe are pressing for both faster and more efficient cross-border payments. China’s central bank, for instance, took steps last month to boost the efficiency of cross-border transactions involving Chinese parties by lengthening its clearing window time span.

Cross-Border Payments

PYMNTS

OCTOBER 24, 2019

Cross-border payments still present challenges , but the landscape is changing rapidly. . Swift recently announced that its gpi service can integrate with domestic real-time systems to facilitate rapid cross-border transactions. Traditionally, most cross-border payments are made through Swift.

Cross-Border Payments

PYMNTS

NOVEMBER 21, 2018

With FinTech driving innovation and competition in the cross-border payments space, governments can no longer afford to ignore changing and heightening demands for greater speed, transparency and efficiency in global transactions. times global GDP in 2016.

Authorization

PYMNTS

NOVEMBER 13, 2020

Looking at the plight of migrant workers and those working abroad during the COVID event, PYMNTS November 2020 Smarter Payments Tracker® powered by Nium notes that, “Legacy FIs can struggle to provide affordable remittance services that meet migrant workers’ needs, and their dependency on correspondent banking networks can drive up service costs.

Cross-Border

PYMNTS

OCTOBER 22, 2019

This month’s Deep Dive explores the frictions currently afflicting the B2B cross-border payments and P2P remittances spaces, as well as the solutions being developed to accelerate transactions and reduce pain points. International B2B Payments Pains. The State of Global Remittances. Mexico transactions in 2018.

Cross-Border Payments

PYMNTS

MARCH 7, 2019

Moving funds between subsidiaries, paying employees in different locations and other internal company payment needs become just as complicated as making an external global payment, he said. Cross-Border Payments Friction. Yet the pain points continue.

B2B

PYMNTS

MAY 3, 2019

It seems that’s the journey for cross-border payments, which are in the midst of a digital disruption as innovators focus on addressing a range of friction points, from sluggish speeds to high costs. Only a few years ago, small businesses lagged in global payments technology uptake. In the U.K.,

Global Payments

PYMNTS

APRIL 1, 2019

The jockeying for cross border-payments continues, and SWIFT and Ripple continue to dominate the headlines. As noted, SWIFT has rolled out its gpi (short for global payments initiative). Ripple has xRapid, its cross-border payments solution. Thus, costs are high and speeds are less than optimal.

Cross-Border

PYMNTS

AUGUST 1, 2019

Financial service providers are operating in a global payments market filled with disruption as they work to offer cross-border corporate payment services that live up to businesses’ standards. Across the pond, meanwhile, the U.S.’s

Interoperability

CB Insights

JANUARY 28, 2020

B2B cross-border payments company Ripple offers an alternative to transferring money via the correspondent banking system, which has long faced criticism for being slow, opaque, and costly. The post Fintech Business Model Spotlight: Ripple appeared first on CB Insights Research. Want the full post?

Cross-Border Payments

PYMNTS

NOVEMBER 10, 2020

Immigrants must quickly establish local bank accounts in their host countries so they can easily receive payroll, and many also seek seamless, cost-effective ways to send money back home. Legacy banks often send remittances over correspondent banking networks, which can drive up costs. Get the full story in the Tracker®.

Cross-Border

PYMNTS

DECEMBER 4, 2017

FinTech innovators are finally paying attention to the B2B sphere, and much of that focus has landed on the cross-border payments space — a notoriously clunky, expensive and opaque burden for many business payers. Traditional banks are often at the center of that global B2B payments friction. Regulatory Burdens.

B2B

CB Insights

JANUARY 22, 2020

The company has continued to market its RippleNet payments platform as a disruptive technology to the cross-border payments market and the correspondent banking system that banks use to transfer funds. The post Investment To Blockchain Startups Slips In 2019 appeared first on CB Insights Research.

Blockchain

PYMNTS

JULY 6, 2017

Reports Wednesday (July 5) said the FSB released the results of a survey that found banks across the globe are reducing the number of correspondent banking relationships, used for cross-border payments, as they grow increasingly concerned about falling out of compliance with anti-money-laundering and other regulations.

Correspondent Bank

PYMNTS

APRIL 17, 2018

A new report by the General Council for Islamic Banks and Financial Institutions (CIBAFI) said the decline of correspondent banking relationships disproportionately impacts Islamic financial institutions (FIs). Islamic banks in Southeast Asia added that cash management services were most impacted for them.

Correspondent

PYMNTS

MARCH 14, 2017

“And one area that needs to be addressed is stability in the processes that businesses use for cross-border payments. The executive said the research reflects businesses’ desire to have a streamlined banking experience. Whatever else might happen, they want to have certainty about cash flow and costs.”.

Cross-Border Payments

PYMNTS

FEBRUARY 8, 2018

percent of domestic and cross-border payments in December 2017, SWIFT found, with the company’s Head of Payments Markets, Asia-Pacific, Michael Moon noting, “Experts suggest that capital controls and uncertainties over future regulations mean that a significant reversal of the decline in RMB usage for trade and payments is unlikely in 2018.”.

B2B

PYMNTS

APRIL 11, 2016

One of the more loaded revelations from the report: Banks really only have to worry about disruption from blockchain technology in some aspects of the financial system, like trade finance, and less so in other aspects, like cross-border payments.

Cross-Border

PYMNTS

DECEMBER 18, 2019

Innovation in the payments arena has provided more rails upon which to move money. In B2B payments, though, legacy tools continue to lead. If you are doing Open Banking [through those other rails], you are still going through the corresponding bank system,” said Steve Kirsch, CEO of M10, in a recent interview with Karen Webster.

B2B

PYMNTS

DECEMBER 14, 2018

When PYMNTS asked cross-border payments experts at the end of last year what they thought the driving trend would be for the industry in 2018, the consensus was all about collaboration , particularly between banks and FinTech firms. “The modern-day client expects a seamless transaction experience,” he said.

Cross-Border Payments

PYMNTS

NOVEMBER 27, 2018

Consumers may secure the majority of payments innovation efforts, but when it comes to cross-border payments, the opportunity undoubtedly lies in corporate transactions. The next-highest category, consumer-to-business (C2B) cross-border payments, paled in comparison at just $54 billion.

Cross-Border Payments

CB Insights

FEBRUARY 8, 2018

Yet at the same time, according to a survey by The International Securities Association, 55% of companies polled are monitoring, researching, or developing solutions on top of blockchain. But this very loud and public backlash against cryptocurrencies from banks begs the question: What do banks have to be afraid of?

Blockchain

Finextra

JUNE 30, 2025

This record high is driven by a wave of adoption from major global banks. With this market capitalization size and a growing presence in cross-border payments, corporate treasury operations, and emerging market finance, stablecoins are fast becoming a relevant tool in global finance.

Stablecoins