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India is advancing efforts to establish cross-borderpayment linkages with multiple countries, as reported by Bloomberg, citing an official from the Reserve Bank of India (RBI). T Rabi Sankar Deputy Governor T.
The current cross-borderpayment 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-borderpayment and e-commerce sectors, has released its annual Cross-BorderPayments 100 list, highlighting the 100 most influential players in global payments.
FXC Intelligence, a data platform specializing in the cross-borderpayment and e-commerce sectors, has released its annual selection of the world’s most promising cross-borderpayments companies in 2024. One of Singapore’s entries is Partior. Another company from Singapore featured on the list is Tazapay.
He emphasized the country’s successful implementation of the PromptPay system and QR code standards, which have significantly broadened access to digital payments while prioritizing security. Looking ahead, he highlighted Thailand’s efforts to strengthen cross-borderpayment connectivity through projects like Nexus and mBridge.
Global payments infrastructure provider Nium has expanded its partnership with Kinexys by J.P. Morgan (formerly Onyx) to enhance cross-borderpayment accuracy in Malaysia, Thailand, and Hong Kong, This makes Nium the first fintech to provide data for validating bank account details in these markets.
XTransfer, a B2B cross-borderpayment platform, made its debut at the Singapore Fintech Festival (SFF) 2024 as a Gold Sponsor. The company aims to expand its presence in Southeast Asia, offering secure and efficient payment solutions to SMEs in the region. ” said Bill Deng, Founder and CEO of XTransfer.
Global payments network Thunes has announced a collaboration with Circle , the issuer of regulated stablecoins USDC and EURC. This partnership aims to enhance stablecoin liquidity management in cross-borderpayments. said Jeremy Allaire, Co-founder and CEO of Circle.
The Bank for International Settlements ‘ (BIS) Committee on Payments and Market Infrastructures (CPMI) has announced new measures to promote the adoption of its harmonised ISO 20022 data requirements. BIS aims to improve the efficiency of cross-borderpayments.
Ant International has joined Swift ‘s “Network Interoperability Reference Implementation” programme, a pre-pilot initiative designed to improve cross-borderpayment experiences.
Jean Henri Lhuillier “PayPal’s payment services, our extensive rails with PDAX and Philippine banks, and our vast network of physical touchpoints enable us to deliver to last mile areas that are in need of support. This initiative builds on PayPal’s earlier decision to allow U.S.
Morgan Stanley has partnered with Wise Platform to enhance its cross-borderpayment capabilities for corporate and institutional clients. Wise Platform, the global payments infrastructure for banks, enables financial institutions to offer international payments using Wises network.
Mesta , a fintech platform reshaping global payment networks with hybrid fiat and stablecoin payment rails, unveiled its cross-borderpayment platform. It combines real-time fiat payment rails with blockchain-powered stablecoin rails, addressing inefficiencies in global payments and trade.
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-borderpayments. The data requirements were published in a report to the G20 in October 2023.
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-Borderpayments.
UPI is revolutionising cross-borderpayments, expanding Indias digital payment influence through global integration, regulatory reforms, and strategic partnerships. The introduction of the unified payments interface (UPI) in 2016 marked a transformative shift in India’s digital payments landscape.
In a significant milestone for the fintech industry, Paysend , the UK-based global payments platform, has announced reaching 10 million consumer customers worldwide. As the largest global digital network with over 25 billion endpoints, our mission is to simplify international payments for everyone.
XWeave , a startup developing infrastructure for stablecoin-based cross-borderpayments, has raised US$3 million in seed funding. The funding will be used to expand XWeaves network across non-G10 payment corridors in Asia and the Middle East, including the UAE, Indonesia, Japan, and Hong Kong.
Bitso Business the B2B arm of Bitso that provides the infrastructure for the future of cross-borderpayments releases its 2024 results. The global cross-borderpayments market, currently valued at $44 trillion, is projected to reach $65 trillion by 2030. trillion by 2030.
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. Ripple said the stablecoin is aimed at improving the speed and reducing the cost of international payments processed through its network.
Founded in 2021 by Ife Johnson and Justin Ziegler , Juicyway enables individuals and businesses to send, receive, and process payments globally. As the creators of Nigeria’s largest price discovery engine, Naira Rates , Juicyway facilitates remittances and provides access to FX through various payment channels.
FXellence , a provider of fast, simple, and secure international business payments, has announced the launch of its new cross-borderpayment platform for businesses, FXellence International Payments, powered by Currencycloud , a Visa Direct offering.
We aim to address existing challenges in cross-borderpayments and seize opportunities through innovative solutions. The collaboration with Mastercard will empower us to elevate our payment capabilities and reinforce our position in Jordans financial sector, said Dr. Kamal Al-Bakri, CEO, Cairo Amman Bank. billion in 2022.
The Challenge Cross-borderpayments are critical yet often costly and complex, especially for growing businesses expanding into Southeast Asia and South Asia. Geopolitical shifts have diversified supply chains, and real-time payments have become the preferred method for digital transactions in these regions.
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-borderpayment 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-borderpayments. based BINs to expand the reach of those programs into cross-borderpayments.
Cross-borderpayment 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-borderpayment solutions tailored to small and medium-sized enterprises (SMEs).
Morgan Stanley is teaming up with Wise to bring faster and smoother cross-borderpayments to its corporate clients, making it the first investment bank to integrate Wises global payments platform.
There is a growing demand for cross-borderpayments across the globe. Looking to meet this demand, B2B payments organisation, Boost Payment Solutions has partnered with international payment firm, TransferMate. Leavitt , founder and CEO of Boost Payment Solutions.
Southeast Asias rapid digital growth is creating major opportunities for high-growth enterprises, but when it comes to managing cross-borderpayments, many businesses are still held back by fragmented infrastructure, currency complexities, and inefficient payment processing systems.
The new Borderless Banking offering is the next big Prometeo solution set to help firms make easier payments following Bank Account Validation offering announced in June 2024. The post Borderless Banking Launched by Prometeo to Make Cross-BorderPayments appeared first on The Fintech Times.
Vietnam and Laos have officially launched a new framework for settling payments in their local currencies and a cross-border QR code payment system. The post Cross-Border QR Payments Now Live Between Vietnam and Laos appeared first on Fintech Singapore.
The initiative showcases how regulatory requirements can be embedded directly into cross-borderpayment processes, aligning with G20 priorities to make these transactions faster and more cost-effective. We are optimistic about the potential of these early results to enhance crossborderpayments.”
Thunes, a global payments company, has launched a new Pay-to-Card solution that allows its members to send real-time payments to 15 billion Mastercard, Visa, and UnionPay cards worldwide. said Floris de Kort, CEO of Thunes. said Chloe Mayenobe, President and COO of Thunes. said Chloe Mayenobe, President and COO of Thunes.
Money20/20 , the global fintech show, is gearing up to return to Asia from 22 to 24 April 2025, with plans to spotlight cross-borderpayments. During this year’s show, Money20/20 plans to focus on Asias innovations, emerging payment networks, and regulatory leadership that shape the payment ecosystem in the region.
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-borderpayment systems for transfers to bank accounts in Taiwan.
Leveraging scalable infrastructure, technical support, and localisation capabilities from Stripe, Luckin Coffee has established a robust cross-borderpayment system to power its growth in Singapore and Malaysia. For Luckin Coffees success, the company required a flexible, reliable, and localised payment system.
StraitsX, a digital asset payments infrastructure provider in Southeast Asia, has partnered with Ant International and superapp Grab to launch a new blockchain-based cross-borderpayment system. billion consumers through more than 30 payment partners globally, enabling seamless cross-borderpayment experiences.
Tranglo, a leading cross-borderpayment 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-borderpayments simpler and more affordable.
In a significant move to strengthen its retail cross-borderpayments offering, leading global bank Standard Chartered and Wise Platform, Wise’s global payments infrastructure for banks, have announced a partnership, to power faster and cheaper international payments for the bank’s cross-borderpayment service, SC Remit.
LSEG Risk Intelligence has launched its Global Account Verification (GAV) service in Asia-Pacific and Europe, the Middle East, and Africa, expanding efforts to enhance security in cross-borderpayments. This helps businesses confirm supplier and customer payments and detect potential fraud risks.
Pro Money are thrilled to invite you to the Baltic Payment Forum , where innovation meets insight in the dynamic world of payments and fintech. Baltic Payment Forum Agenda 2025 includes: How to balance between innovations and regulatory requirements? How blockchain technology is shaping cross-borderpayments.
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