The Fintech Times

NOVEMBER 8, 2024

Global asset manager and Swiss bank UBS has developed and successfully piloted a blockchain-based payment solution, aiming to increase efficiency and transparency, as well as enable the programmability of money movements for corporate and institutional clients. UBS plans to further expand and develop its UBS Digital Cash offering.

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Fintech Finance

MARCH 6, 2025

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.

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Fintech Finance

OCTOBER 21, 2024

Mastercard introduced a new product innovation, Mastercard Move Commercial Payments, that will enable banks to facilitate near real-time, predictable and transparent commercial cross-border payments. Fully compatible with existing correspondent banking arrangements between respondents and correspondents.

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PYMNTS

SEPTEMBER 1, 2020

More money crossing borders digitally. Fewer correspondent banks to move that money. What might replace a clunky system in a world where payments are becoming ever more global? And the hallmark of that money movement — a lack of transparency and speed. A Reduction In The Number Of Corridors .

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Fintech News

JUNE 4, 2024

The Bank for International Settlements (BIS) has launched Project Rialto to test the potential for improving instant cross-border payments through a combination of a modular foreign exchange (FX) component and wholesale central bank digital currencies (wCBDC).

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PYMNTS

OCTOBER 15, 2020

Cross-border payments are a necessary, yet often frustrating part of the world economy, with international transactions prone to overlapping government regulations, excessive fees and slow processing times. Developments From Around The World of Payments Modernization. billion by the end of this year.

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Fintech Finance

DECEMBER 17, 2024

This move will enable Tietoevry Bankings client financial institutions to offer corporate customers Visa B2B Connect payments, delivering faster, more cost-effective and transparent payment options when transacting across borders.

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Fintech Finance

JUNE 5, 2024

Today, Ripple , the leader in enterprise blockchain and crypto solutions, announced a new partnership with Clear Junction , the global leader in cross-border payments solutions for regulated institutions. The post Ripple Partners With Clear Junction to Enhance UK and EU Cross-Border Payments appeared first on Fintech Finance.

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Fintech News

APRIL 21, 2025

Businesses can also process US dollar wire transfers to more than 170 countries and make payments in over 30 currencies, including USD, EUR, and CNY. Businesses can pay suppliers in their local currencies, helping to lower exchange rate and reconciliation costs, with clear references for each payment.

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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.

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PYMNTS

APRIL 3, 2019

It may seem that cross-border payments were in the … well … crosshairs this past week, with a number of country-by-country and company-by-company initiatives using blockchain and other methods to speed payments and lower fees. These shortcomings make the cross-border payment industry ripe for disruption and innovation.

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PYMNTS

OCTOBER 19, 2020

These challenges are only exacerbated when payments move across international borders, usually accomplished via correspondence banking. Banks are typically required to establish direct links with financial institutions (FIs) in other nations to make or receive cross-border payments.

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PYMNTS

OCTOBER 16, 2020

Consumers send funds by tapping or swiping payment cards, clicking a few buttons on banking websites or payment apps, or keying details into online checkout pages, which payees receive via bank accounts or digital wallets. Kicking Free Of Correspondent Banking. Staying Secure.

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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.

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PYMNTS

SEPTEMBER 11, 2019

According to the new Simplifying Cross-Border Payments Playbook , there are five key criteria that an ideal cross-border payment solution should meet: speed, security, compliance, transparency and ubiquity. How Cross-Border Payments Are Made. So, what’s the problem? What’s Changing?

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PYMNTS

JULY 31, 2019

So, why do cross-border payments present so many challenges? Despite rapid market growth, international payments have been hampered by country-specific regulations, while transactions being channeled through intermediary banks can take days to complete and often come with fees. Currently, there are 0.7

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Fintech Finance

MAY 29, 2025

Conduit , a leading cross-border payments platform powered by stablecoins, announced today it closed a $36 million Series A funding round. Broad Geographic Coverage: Conduit natively supports a diverse range of currencies and payment methods, including highly inflationary local currencies in Latin America, Africa, and Asia. .

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The Payments Association

MAY 9, 2025

As financial crime evolves, correspondent banks must prioritise wire transfer transparency to meet global regulations and safeguard the financial system. Correspondent banking is vital in facilitating global trade, enabling cross-border remittances, and connecting emerging markets to the international financial system.

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The Fintech Times

MARCH 7, 2025

KCB and Bank of Kigali customers can now 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.

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Fintech Finance

NOVEMBER 4, 2024

Wise has spent the last 14 years building an alternative to traditional correspondent banking. With over 65 licenses globally and now six direct connections to domestic payment systems, this infrastructure enables over 63% of all Wise transactions to be completed instantly (under 20 seconds), with an average fee of 0.62%.

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Finextra

APRIL 29, 2024

Service level agreements used in cross-border payment arrangements define minimum service levels for correspondent banking relationships, the links between payment systems and payment instrument rulebooks.

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The Fintech Times

FEBRUARY 21, 2024

Having reflected on what the top priority is for businesses looking to enter the cross-border payments space, we now turn our attention to the future, and how the sector will evolve in 2024. Most notably, the European Payment Council ’s ‘One-Leg Out Instant Credit Transfer (OCT Inst)’ scheme went live in December.

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PYMNTS

JULY 26, 2019

The modern-day financial services landscape has a need for speed, and one of the slowest areas of the market can be seen in cross-border payments. Remittance and peer-to-peer payment technologies have accelerated transaction speeds for consumers tired of waiting days for money to move across borders.

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Finovate

OCTOBER 21, 2024

Mastercard launched Move Commercial Payments , a real-time cross-border payments solution that operates 24/7. The new commercial payments tool leverages a multi-rail system that includes SWIFT, Visa Direct, and Mastercard’s proprietary networks. with Lloyds Banking Group and UBS.

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PYMNTS

JULY 7, 2020

B2B payments are undergoing a vast digital transformation, with solutions providers stepping up to offer more speedy options as companies look to expand internationally. Developments From Around The World Of Smarter Payments. Businesses are well aware of the boost that cross-border commerce can have on their bottom lines.

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Finance Magnates

FEBRUARY 15, 2023

How MSBs are leveraging the power of USDC and Circle for cross-border payments to their counterparties. As cross-border payments continue to gain popularity, businesses are constantly looking for faster, more secure, and cost-effective methods to conduct transactions.

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PYMNTS

JULY 15, 2020

Although cross-border expansion can be a major business growth opportunity for U.S. corporates fit in the global landscape has led to businesses large and small becoming eager embracers of cross-border trade. An alternative to this payment strategy is to open up a bank account in each market in which a business operates.

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The Fintech Times

APRIL 30, 2025

Onafriq , the African payments gateway, is joining forces with Circle , a stablecoin-focused company and USDC issuer, to transform cross-border payments and digital financial services across Africa. This results in $5billion in transaction fees annually, undermining economic integration efforts.

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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.

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Payments Source

AUGUST 8, 2018

The fact remains that the vast majority of international payments are still done via banks and through the correspondent (SWIFT) network, writes Rosie Faulkner, vice president and money laundering reporting officer at Earthport.

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Payments Source

JANUARY 8, 2019

Despite controversy surrounding Ripple’s digital token, one bank is pushing forward to use it in cross-border payments.

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PYMNTS

APRIL 15, 2020

For foreign payment service providers looking to facilitate cross-border B2B payments into China, the correspondent banking model often remains the only route to facilitate clearing and settlement. “Getting correspondent bank accounts is the biggest challenge every payment service provider is facing.

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PYMNTS

SEPTEMBER 11, 2019

Enterprise software provider R3 is teaming up with Mastercard to establish a blockchain solution for cross-border payments, the companies said in a press release on Wednesday (Sept. More than 300 financial services firms, technology companies, banks, regulators and associations are part of R3’s Corda ecosystem.

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Payments Source

OCTOBER 23, 2016

The flow of money between countries is changing, and if banks and merchants get caught unaware, a reliable revenue stream will get shut off like a spigot.

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Fintech Finance

AUGUST 12, 2024

Nium , the global leader in real-time cross-border payments, is strengthening its presence in Latin America by applying for essential licenses, joining key fintech associations, expanding its employee presence, and signing new customers. Nium has been present in the region dating back to 2017.

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Finextra

JUNE 19, 2024

Taking to the stage on the second and final day of EBAday in Lisbon, Portugal were Erik Frantz, executive director, financial institutions – banks, CaixaBank; Roisin Levine, head of UK and Europe partnerships, Wise Platform; Rafael Linde, head, international development and global relationship management, Cecabank; Dean Sposito, head of institutional (..)

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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.

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