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Deep Dive: Cross-Border Payments Interoperability

PYMNTS

Examples of scheme interoperability include checks, electronic funds transfers (EFT) and open-loop debit and credit card systems. The second is network interoperability, in which one payment scheme negotiates exchange agreements with another.

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International Payments Group Champions Faster Cross-Border Payments

PYMNTS

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. In the U.S.,

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Finovate Global Philippines: Mynt’s Millions and Opening the Door for More Digital Banks

Finovate

Latin America and the Caribbean Uruguay-based cross-border payments platform dLocal forged a strategic partnership with cross-border payments company iTransfer. Mexican fintech Stori secured $212 million in equity and debt funding.

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Mastercard and Leading Canadian Fintech VoPay Enter Strategic Partnership to Aid Money Movement for Canadians with Mastercard Move

Fintech Finance

Disbursers will also be able to leverage VoPay’s platform as a multi-rail disbursements engine for transfers to enabled cards using Mastercard Move as well as the opportunity to send payments to bank accounts using VoPay Instant and electronic funds transfer (EFT).

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Social Data’s Impact On CU Member Personalization

PYMNTS

In other security news, CU blockchain developer CULedger has partnered with enterprise software firm R3 to develop blockchain-based, electronic funds transfer (EFT) system CU Pay. Smaller CUs are also getting more advanced.

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Wire Transfer vs Electronic Transfer

EBizCharge

Understanding wire transfers and electronic funds transfers, how they operate, and the security they offer is crucial to gaining a clearer picture of today’s financial landscape. What is an electronic funds transfer (EFT)?

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Credit Unions Find Opportunity In Payments Disruption

PYMNTS

These three concepts drive CULedger’s roadmap, with the latest initiative being its CUPay solution, designed to work with existing infrastructure and streamline payments between credit unions. “That’s a huge market opportunity for credit unions.”