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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 selection of the world’s most promising cross-borderpayments companies in 2024. The company recorded a total payment volume of around US$10 billion.
Looking ahead, he highlighted Thailand’s efforts to strengthen cross-borderpayment connectivity through projects like Nexus and mBridge. The post Thai Governor Highlights Data, Cross-BorderPayment Initiatives at SFF 2024 appeared first on Fintech Singapore.
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-borderpayments. As of May 2025, it connects 174 direct and 1,509 indirect participants globally.
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.
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. The company is currently valued at US$5.5 billion, according to CB Insights.
By enabling fast, transparent, and secure cross-borderpayments, we are not only improving the financial experience for our users but also empowering businesses, financial institutions, and individuals to thrive in an increasingly globalised world.”
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.
BIS aims to improve the efficiency of cross-borderpayments. They also provide impetus to industry-led efforts to create guidelines for faster cross-borderpayments. The CPMI views these guidelines as essential to making cross-borderpayments safer and more efficient.
Onafriq , in collaboration with the Pan-African Payment and Settlement System (PAPSS), announced the launch of a new cross-borderpayment 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.
Ant International has joined Swift ‘s “Network Interoperability Reference Implementation” programme, a pre-pilot initiative designed to improve cross-borderpayment experiences.
Featured image credit: PayPal The post Xoom Enables Partners to Use PayPal USD for Faster Cross-BorderPayments appeared first on Fintech Singapore. .” said Jose Fernandez da Ponte, Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies, PayPal.
Morgan Stanley has partnered with Wise Platform to enhance its cross-borderpayment capabilities for corporate and institutional clients. ” Featured image credit: Edited from Freepik The post Wise to Power Morgan Stanleys Cross-BorderPayments for Corporate Clients appeared first on Fintech Singapore.
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.
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.
1 B2B cross-border trade payment platform, and BNP Paribas , the European Union’s leading bank, have signed a landmark Memorandum of Understanding (MOU) to roll out comprehensive cross-border financial services during Money20/20 Europe in Amsterdam. XTransfer , the world’s leading and China’s No.1
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.
In a significant milestone for the fintech industry, Paysend , the UK-based global payments platform, has announced reaching 10 million consumer customers worldwide. The post Paysend Celebrates 10 Million Consumer Customers Milestone: Simplifying Cross-BorderPayments for Everyone appeared first on FF News | Fintech Finance.
XWeave , a startup developing infrastructure for stablecoin-based cross-borderpayments, has raised US$3 million in seed funding. By reducing the need for pre-funding and simplifying integration with legacy systems, XWeave aims to improve the speed, transparency, and cost-efficiency of cross-borderpayments.
Were additionally excited to enable RLUSD in Ripple Payments, extending the breadth of stablecoins available in our cross-borderpayments solution. The post Ripple Adds RLUSD Stablecoin to Cross-BorderPayments Platform appeared first on Fintech Singapore.
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.
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.
As the global demand for faster, more affordable, and increasingly transparent cross-borderpayments intensifies, Project Nexus is emerging as a foundational initiative to meet the G20’s ambitious roadmap. What is Project Nexus, and how does it address today’s cross-borderpayment challenges?
We aim to address existing challenges in cross-borderpayments and seize opportunities through innovative solutions. Our partnership with Cairo Amman Bank will be instrumental in bringing convenient and secure cross-borderpayment solutions to Jordan. billion in 2023, an increase from USD4.91
By leveraging innovative stablecoin technology, theyre leapfrogging outdated infrastructure to create a seamless, efficient, and inclusive cross-borderpayment system that reshapes how Africans connect with the global economy. We couldn’t be more excited to support their journey!
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.
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.
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.
By combining our local clearing network with PayGlocal’s merchant-focused platform, we’re enabling faster, cost-effective cross-borderpayments that support India’s growing role in global trade.” said Mishal Ruparel, Chief Commercial Officer at Banking Circle.
Merge , a London-based fintech company that provides payments and banking infrastructure for digital businesses, has announced a new strategic partnership with DHgate , a leading global B2B e-commerce marketplace.
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.
Turkish customers using financial services provider, Papara , will now be able to send money into three billion mobile wallet accounts, four billion bank accounts and 15 billion cards in over 80 currencies and to more than 130 countries following a new partnership with Thunes , the cross-borderpayment infrastructure provider.
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.”
With our Borderless Banking product, clients can seamlessly receive cross-borderpayments, open accounts for collections in foreign markets, and transfer funds across borders with full transparency. The post Borderless Banking Launched by Prometeo to Make Cross-BorderPayments appeared first on The Fintech Times.
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.
While 82 per cent of respondents said they primarily send money to support family and friends, 15 per cent reported sending it to themselves Poor experience Yet, 94 per cent of users are dissatisfied with how cross-borderpayments work today. The culprits? Poor exchange rates, hidden fees and sluggish transfers.
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.
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.
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.
Deutsche Bank and Ant International have announced their strategic partnership to provide more comprehensive payment solutions for businesses of all sizes in Europe and Asia, by combining their expertise and leveraging Ant International’s proprietary tokenisation and AI-based FX technology.
dLocal , the leading cross-borderpayment platform specializing in emerging markets, today announced its partnership with Juspay , a leading payments orchestration and infrastructure provider powering global enterprises and banks.
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