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How China Fuels Alternatives To Correspondent Banking

PYMNTS

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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Unlocking the Future of Global Payments: A Deep Dive into China’s CIPS

Finextra

Modernizing Cross-Border Settlement Before CIPS, RMB cross-border payments relied on clearing banks, correspondent banking, and Non-Resident Account (NRA) models—often resulting in delays and inefficiencies. At the end of each cycle, accounts are reconciled and cleared, ensuring transparency and operational integrity.

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Thunes Launches New Global Business Payments Service

Fintech News

Global payments company Thunes has introduced ‘Thunes Business Payments’ , a new service aimed at helping enterprises, merchants, banks, and mobile wallet providers streamline international business transactions. The launch is targeted at members of Thunes’ Direct Global Network.

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Wise Platform Boosts Global Payments with Enhanced Infrastructure for Faster, Cheaper Cross-Border Solutions

Fintech Finance

Over the past year Wise Platform , Wise’s global payments infrastructure for banks, financial institutions and larger enterprises, has further enhanced its product suite for partners and significantly expanded its global regulatory footprint.

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Wise Platform Appoints Lauren Langbridge and Manuel Sandhofer to Accelerate Expansion Across EMEA, North America and Brazil

Fintech Finance

Wise Platform , Wises global payments infrastructure for banks, financial institutions and larger enterprises, today announced the appointment of Lauren Langbridge as Commercial Director for North America, and Manuel Sandhofer as its new General Manager for Europe, Middle East and Brazil.

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Greater Flexibility: BVNK Wallet Offers Stablecoin, Crypto and Fiat Payments All in One Place

The Fintech Times

Simon Griffin, chief product officer at BVNK Simon Griffin , chief product officer at BVNK, said: Stablecoins are redefining how we transfer value around the world, enabling 24/7/365, accelerated global payments. Why stablecoins?

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SWIFT Stands Behind Its Global Payments Innovation Initiative

PYMNTS

All of this has occurred as the company has continued to expand the pilot phase of its global payments innovation (gpi) initiative, thus far signing on dozens of major financial institutions to an effort aimed at streamlining cross-border payments. Since, SWIFT has reported three new cyberbreaches that occurred over the summer.

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