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MAS Reiterates Robust Controls on Cross-Border Payments to Combat Scams

Fintech News

Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong has reiterated the Monetary Authority of Singapore’s (MAS) ongoing efforts to combat cross-border payments scams. Key among these measures are a default transaction notification threshold of S$100 or lower and a daily transaction limit of no more than S$1,000.

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Lili Launches International Payments

Fintech Finance

Lili , the financial platform designed for small business owners, today announced the launch of international wire payments in 27 countries, empowering small business owners to grow beyond borders. According to FXC Intelligence, the cross-border payments industry reached a market size of $190.1

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YouTrip Enables International Transfers to Over 40 Countries

Fintech News

Transfers can only be made from funds topped up via PayNow or a linked bank account, with transaction limits set at S$20,000 per transaction and S$100,000 annually. Security measures include OTP verification and PIN or biometric authentication for transactions exceeding S$1,000.

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Why Cross-Border Payments Still Present Challenges

PYMNTS

international transactions per capita every year, up from 0.5 So, why do cross-border payments present so many challenges? For example, if, in a particular market, different transaction limits apply for consumer versus business remittances, or for domestic versus cross-border transactions, we can provide these custom controls.

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Navigating AML obligations in the age of virtual IBANs

The Payments Association

Virtual IBANs (vIBANs) have become a key component of modern payment systems, enhancing payment reconciliation and facilitating cross-border transactions. Voices from the industry Virtual IBAN regulations are evolving as regulators tighten AML compliance, data protection, and cross-border payment rules.

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Visa’s Approach To Simplifying Cross-Border Payments

PYMNTS

Cross-border transactions remain difficult to navigate due to the various regulations and technologies available in different countries. I liken cross-border payments to a multidimensional Rubik’s Cube,” said Vikram Modi, vice president and head of Visa Direct Global Platform at Visa.

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Ant Group raises transaction limits for travelers on e-wallet services inline with new PBOC policy

Finextra

In response to China's new policies to facilitate international visits, Ant Group is raising single-transaction limit for international travellers using its cross-border payment services from USD 1000 to USD 5000; and annual cumulative transaction limit up from USD 10,000 to USD 50,000.