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WorldFirst Partners With Walmart for Secure Online Fund Collection

Fintech Finance

Leveraging WorldFirst’s 20 years of expertise in secure cross-border payments, the new digital payment collection service will provide online sellers with three key benefits: Security and Compliance: Funds collected are directly deposited into the merchant’s World Account, providing businesses with streamlined access to cross-border payment and (..)

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People’s Clearinghouse and Interledger Foundation Launch Digital Infrastructure Project

Fintech Finance

The Interledger Foundation , an organization building and advocating for an open, interoperable payment network, today announced its work with the People’s Clearinghouse, a social sector tech platform that services community banks and credit unions in Mexico. and Mexican residents via community banks in rural areas.

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How The Pandemic Has Reshaped The Global Payments Market

PYMNTS

Data: $30T: Size of the global cross-border payments market. 47%: Share of consumers who use direct deposit as their preferred method of receiving payment. 1.7B: Amount of the write-down Johnny Walker maker Diageo took as a result of declining global sales. 32%: Share of U.S.

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Putting The Move On The Moving Industry’s Gig Worker’s Pay

PYMNTS

These workers appreciate the flexibility ad hoc work brings to their schedules, but the less structured nature of the work can also mean facing certain payments challenges. To learn more about how Bellhops is creating faster payments support to keep its workforce moving, visit the Tracker’s Feature Story.

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The Impact Of Payments Innovation On SMBs, App Users

PYMNTS

Payment providers are offering alternatives to cumbersome and opaque correspondence banking protocols with cross-border payments. And Square is broadening its platform with its recent purchase of Verse, an app that lets users make instant payments. 45%: Decline in cross-border payments volume in May 2020.

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Decoding the FCA’s Safeguarding reforms: Practical steps for payments and E-money firms

The Payments Association

Immediate safeguarding of funds: Firms must ensure that customer funds are directly deposited into safeguarding accounts upon receipt. Firms operating in multiple currencies or across differing time zones may face trouble in ensuring funds are instantly deposited into safeguarding accounts.

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Freelancer Payments Turn Traditional Payroll On Its Head

PYMNTS

Rather than automatically receiving wages via direct deposit on a regular basis, gig workers often have to be the one to initiate the process by submitting an invoice to their employers. Throw into the mix the currency-conversion fees and sluggishness of cross-border payments, and freelancers are really struggling to get paid.

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