Remove Correspondent Bank Remove Cross-Border Remove Near Real-Time
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Mastercard Transforms Cross-Border Payments for Banks With Industry-First Innovation

Fintech Finance

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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New Mastercard Move Commercial Payments Solution Addresses Cross-Border ‘Pain Points’

The Fintech Times

Payments giant Mastercard has launched a new cross-border payments solution in a move to simplify operations, optimise liquidity, reduce counterparty risk and provide end-to-end visibility for banks and their customers.

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Mastercard to Offer Real Time Cross-Border Payments for Commercial Clients

Finovate

Mastercard launched Move Commercial Payments , a real-time cross-border payments solution that operates 24/7. Mastercard unveiled an offering this week that will allow commercial users to make cross-border payments in near-real-time. with Lloyds Banking Group and UBS.

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Seamless Asia 2024: the Future of Finance in APAC with Insights from Intix

The Fintech Times

Transaction data, particularly in the context of cross-border payments, has grown increasingly vital as transactions move towards near-real-time processing, with the goal of achieving real-time transactions. There is a significant collaborative effort among countries to set up these rails.

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IBM, SWIFT Cap X-Border Payments Initiatives       

PYMNTS

To that end, IBM said it launched its Blockchain World Wire , billed as a cross-border payment system that is powered by the Stellar blockchain network. The process integrates the World Wire API into banks’ payment systems. Thus, FinTech firms such as Ebury are able to track international payments in real time, and globally.

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