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Vietnam and Laos have officially launched a new framework for settling payments in their local currencies and a cross-border QR code payment system. In addition, the launch of a cross-border QR code payment system will enable consumers and visitors to make quick and secure payments for goods and services using their mobile phones.
The Bank for International Settlements (BIS) and a group of central banks have successfully completed Project Mandala demonstrating automated compliance for cross-border transactions. We are optimistic about the potential of these early results to enhance crossborder payments.”
India is advancing efforts to establish cross-border payment linkages with multiple countries, as reported by Bloomberg, citing an official from the Reserve Bank of India (RBI). Featured image credit: Edited from Freepik The post India in Talks to Forge New Cross-Border Payment Linkages, Says RBI appeared first on Fintech Singapore.
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.
FXC Intelligence, a data platform specializing in the cross-border payment and e-commerce sectors, has released its annual Cross-Border Payments 100 list, highlighting the 100 most influential players in global payments. Released on May 08, the 2025 Cross-Border Payments 100 recognizes industry leaders across the sector.
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.
The State Bank of Vietnam (SBV) and the National Bank of Cambodia (NBC) announced the successful implementation of a cross-border QR payment system between the two countries. The pilot project, which began in mid-2022, has been completed as scheduled.
Circle Internet Group announced the launch of its Circle Payments Network (CPN), a new system designed to connect financial institutions for cross-border payments using regulated stablecoins. The post Circle Launches Stablecoin Payments Network for Cross-Border Settlements appeared first on Fintech Singapore.
XTransfer, a B2B cross-border payment platform, made its debut at the Singapore Fintech Festival (SFF) 2024 as a Gold Sponsor. These will include seamless account opening, top-up options, efficient currency exchange, and streamlined cross-border fund collection and payment solutions.
Morgan (formerly Onyx) to enhance cross-border payment accuracy in Malaysia, Thailand, and Hong Kong, This makes Nium the first fintech to provide data for validating bank account details in these markets. The post Nium, Kinexys by JP Morgan Enhance Cross-Border Payment Accuracy in Asia appeared first on Fintech Singapore.
Ant International has joined Swift ‘s “Network Interoperability Reference Implementation” programme, a pre-pilot initiative designed to improve cross-border payment experiences.
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.
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.
UPI is revolutionising cross-border payments, expanding Indias digital payment influence through global integration, regulatory reforms, and strategic partnerships. Indias cross-border payment transformation India is rapidly advancing in global payments through regulatory reforms, tech-driven initiatives, and strategic partnerships.
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.
XWeave , a startup developing infrastructure for stablecoin-based cross-border payments, has raised US$3 million in seed funding. The company is also in talks with regional fintechs and global merchant platforms to integrate real-time cross-border settlement into their products.
Mesta , a fintech platform reshaping global payment networks with hybrid fiat and stablecoin payment rails, unveiled its cross-border payment platform. The funding underscores confidence in Mestas mission to transform cross-border payments, a $44 trillion market, with faster, cost-effective, and reliable payment solutions.
The partnership brings Airwallex’s global payments and financial operating capabilities into the Viably ecommerce financial platform, allowing businesses to simplify cross-border transactions and management of multiple currencies in a single account.
This achievement underscores Paysend’s remarkable growth and solidifies its position in the cross-border payments market, which is projected to reach USD$ 60 trillion by 2030. Additionally, Paysends partnership with TelevisaUnivision, the largest Spanish-language broadcast network in the U.S.,
By leveraging innovative stablecoin technology, theyre leapfrogging outdated infrastructure to create a seamless, efficient, and inclusive cross-border payment system that reshapes how Africans connect with the global economy. We couldn’t be more excited to support their journey! In 2023, Africa received an estimated $90.2
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. Were additionally excited to enable RLUSD in Ripple Payments, extending the breadth of stablecoins available in our cross-border payments solution.
FXellence , a provider of fast, simple, and secure international business payments, has announced the launch of its new cross-border payment platform for businesses, FXellence International Payments, powered by Currencycloud , a Visa Direct offering.
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.
We aim to address existing challenges in cross-border payments and seize opportunities through innovative solutions. Our partnership with Cairo Amman Bank will be instrumental in bringing convenient and secure cross-border payment solutions to Jordan. According to the World Bank , Jordans remittance value reached USD4.94
AstroPay , a global fintech leader redefining cross-border finance, has announced the launch of its multicurrency wallet, a financial tool designed to simplify how users manage money across borders. The wallet enables individuals to hold, exchange, and transact in multiple currencies through a single secure app.
The Challenge Cross-border payments are critical yet often costly and complex, especially for growing businesses expanding into Southeast Asia and South Asia. HitPay’s Cross-Border Payment Solution HitPay is thrilled to announce the launch of its revolutionary single switch to 10 global real-time payment schemes.
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.
TransferTo , a Singapore-based global technology group, and Ecobank Group the leading pan-African financial institution, announce a landmark Memorandum of Understanding (MOU), laying the groundwork to transform financial access and cross-border payment solutions across Africa.
Boost Payment Solutions , a global leader in B2B payments, today announced a partnership with international payment pioneer TransferMate that is designed to address the growing demand for cross-border payments. based BINs to expand the reach of those programs into cross-border payments.
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.
Corpay , Inc.*, (NYSE: CPAY), a global leader in corporate payments, is proud to announce its entry into Luxembourg with the establishment of a new office for its Cross-Border business. This new branch will enable us to better serve our cross-border clients in the investment industry globally.”
Cross-border payment firm XTransfer has received the Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). The company, founded in 2017, specialises in cross-border payment solutions tailored to small and medium-sized enterprises (SMEs).
Ximena Aleman, co-founder and co-CEO of Prometeo Legacy cross-border banking solutions have historically struggled to integrate between financial infrastructures, creating significant challenges for businesses to access new markets, said Ximena Aleman , co-founder and co-CEO of Prometeo.
With access to more than 95 per cent of the worlds banked population, Rajnish Kumar , co-founder and CEO of Instapay Technologies, commented: This collaboration enables us to leverage Mastercards vast global payment network and cross-border transfer expertise.
There is a growing demand for cross-border payments across the globe. As a result of the new collaboration, Boosts cross-border payment solution for enterprise-level business, Boost 100XB, will be combined with TransferMates globally regulated payments infrastructure to help increase industry-wide commercial card usage and adoption.
Cross-border payment firm XTransfer and OCBC Bank have announced a partnership to provide small and medium-sized enterprises (SMEs) with enhanced financial services for international trade. This initiative is expected to improve cross-border trade efficiency and expand financial services for XTransfers customer base.
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.
Thunes, a global payments company specialising in cross-border transactions, has expanded its Direct Global Network to Taiwan. This expansion offers a real-time alternative to traditional cross-border payment systems for transfers to bank accounts in Taiwan. billion, a 4.4% increase from January 2024.
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.
Tranglo, a leading cross-border payment hub, has expanded its footprint in Africa, now supporting payouts in Ethiopia, Kenya, Liberia, Madagascar, Mali, Senegal, and Zambia. Tranglo tackles this with its efficient and cost-efficient solutions, making cross-border payments simpler and more affordable. to send USD 200.
1 B2B Cross-Border Trade Payment Platform , was granted the Major Payment Institution (MPI) License under the Payment Services Act 2019 by the Monetary Authority of Singapore (MAS). This significant milestone strengthens XTransfer’s leading position in the B2B cross-border payments industry.
As cross-border transactions grow in Europe, the cloud-based financial crime management technology solutions provider, Nasdaq Verafin has revealed that these payment channels are opening up more passageways for fraud to take place, as $194.9billion was moved across borders in 2023; more than a quarter of the total fraud figure in 2023 ($750billion).
Global paytech EBANX , which specialises in payment services for emerging markets, has successfully integrated UPI Autopay, the recurring payments feature of Indias instant payments system, Unified Payments Interface (UPI), into its cross-border payments platform.
Centiglobe , a leading fintech company specializing in cross-border payment infrastructure solutions, today announces a new collaboration with Mastercard Move – Mastercard’s portfolio of global money movement solutions. Unlike traditional cross-border payment models, Centiglobe does not charge per transaction.
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