Fintech

Banco Santander has launched a new standalone international money transfer service called PagoFX in the U.K. to compete with fintechs.

Airwallex has raised $160 million in a Series D fundraising round to expand global payment offerings for small businesses and enterprises.

As millions of U.S. consumers are beginning to see stimulus checks electronically deposited into their bank accounts as part of the CARES Act, many companies are wondering how Americans will spend these funds.

IT projects are under scrutiny due to the coronavirus, not only in terms of budgets but also how fast firms can deploy automation for tasks such as business payments for companies that have turned to remote work.

Quick forbearance actions averted an immediate hit to asset quality, but executives warned that a spike in unemployment and a looming recession will cause long-term problems.

OCBC Bank has integrated Google Pay into its P2P transfer service, thereby expanding its customers’ options for reducing their cash usage during the coronavirus crisis.

The $1.8 billion-asset institution will likely absorb Spartanburg City Employees FCU later this year, following a vote of that CU's members next month.

Even before the coronavirus pandemic, it was becoming clear that the work of the past decade to establish the Single Euro Payment Area was paying off with real-time payments networks and opening possibilities for another European payments scheme.

Net income fell 46% in the first quarter as the company added nearly $5 billion to its loss reserves in anticipation of a wave of loan defaults.

CaixaBank and Global Payments are building on a series of partnerships to build a joint prepaid venture in Europe.