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Cross-Border Payments in Numbers: Global Corporations Lost $120 Billion in Transaction Fees

Fintech Finance

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.

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Thai Governor Highlights Data, Cross-Border Payment Initiatives at SFF 2024

Fintech News

Sethaput Suthiwartnarueput, Governor of the Bank of Thailand , recently addressed the Singapore Fintech Festival, sharing insights on Thailand’s advancements in digital finance. Looking ahead, he highlighted Thailand’s efforts to strengthen cross-border payment connectivity through projects like Nexus and mBridge.

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13 APAC-Born Companies Recognized Among Top Global Cross-Border Payment Leaders of 2025

Fintech News

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. The company is currently valued at US$5.5 billion, according to CB Insights.

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UOB Becomes Direct Participant in China’s Cross-Border Payment System

Fintech News

This strengthens their ability to support cross-border renminbi (RMB) transactions. CIPS, authorised by the People’s Bank of China, facilitates RMB-denominated trade, investment, and other cross-border payments. As of May 2025, it connects 174 direct and 1,509 indirect participants globally.

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BIS CPMI Takes Further Steps to Promote ISO 20022 Harmonisation for Enhanced Cross-Border Payments

Fintech Finance

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.

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OnAfrIQ Partners with PAPSS to Launch Cross‑Border Payment Services in Ghana

Fintech Finance

Onafriq , in collaboration with the Pan-African Payment and Settlement System (PAPSS), announced the launch of a new cross-border payment service that will initially pilot outbound transactions in Ghana. By participating in this arrangement, these partners benefit from the safeguards and efficiency of PAPSS’s framework.

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Juicyway Emerges From Stealth With $3m Pre-seed to Revolutionise Cross-border Payments for Africans

Fintech Finance

Hisham Halbouny, Co-Founder and Managing Partner at P1 Ventures who is leading the round said : We couldnt be more excited to partner with Ife, Justin and Idris as they tackle one of the most critical challenges in finance. We couldn’t be more excited to support their journey!