article thumbnail

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

Fintech News

UOB and its wholly owned subsidiary UOB China have signed agreements to become direct participants of China’s Cross-border Interbank Payment System (CIPS). This strengthens their ability to support cross-border renminbi (RMB) transactions.

article thumbnail

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.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

XTransfer Showcases Cross-Border Payment Solutions at SFF 2024

Fintech News

XTransfer, a B2B cross-border payment platform, made its debut at the Singapore Fintech Festival (SFF) 2024 as a Gold Sponsor. These will include seamless account opening, top-up options, efficient currency exchange, and streamlined cross-border fund collection and payment solutions.

article thumbnail

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.

article thumbnail

Nium, Kinexys by JP Morgan Enhance Cross-Border Payment Accuracy in Asia

Fintech News

Morgan (formerly Onyx) to enhance cross-border payment accuracy in Malaysia, Thailand, and Hong Kong, This makes Nium the first fintech to provide data for validating bank account details in these markets. The post Nium, Kinexys by JP Morgan Enhance Cross-Border Payment Accuracy in Asia appeared first on Fintech Singapore.

article thumbnail

Thunes and Circle to Facilitate Faster Cross-Border Payments with USDC Stablecoin

Fintech News

This partnership aims to enhance stablecoin liquidity management in cross-border payments. By utilising USDC, Thunes aims to reduce capital costs and improve liquidity for its network participants. said Jeremy Allaire, Co-founder and CEO of Circle.

article thumbnail

Circle Launches Stablecoin Payments Network for Cross-Border Settlements

Fintech News

Circle Internet Group announced the launch of its Circle Payments Network (CPN), a new system designed to connect financial institutions for cross-border payments using regulated stablecoins. The post Circle Launches Stablecoin Payments Network for Cross-Border Settlements appeared first on Fintech Singapore.