Cross border payments

The B2B payments fintech contends the digital asset can wring inefficiencies out of corporate payments processing.

The card network, which reported earnings on Thursday, reports some early impacts on travel payments, and has set up a site to help customers with questions about changes in consumer and business spending habits.

Tether launches a wallet, Rain issues a crypto card and MoneyGram extends stablecoin services in El Salvador. That and more in American Banker's global payments and fintech roundup.

The international messaging network is attempting to standardize consumers' cross-border payment experience as other payment rails such as Visa Direct, Mastercard Send and stablecoins pressure the correspondent banking system.

Brazil's real-time payment rail is adding PayPal as an option for small- to medium-size business payments; HSBC is launching a Hong Kong dollar-denominated stablecoin; Sezzle expands BNPL; and more in this week's global payment roundup.

As bitcoin plays an ever-larger role in cross-border transactions, what remains to be seen is how prepared the various bodies overseeing global finance are to engage with an asset that operates largely beyond their ability to meaningfully control it.

Australia's national Payments Systems Board has decided to remove surcharges on prepaid, debit and credit cards for electronic funds transfers, while lowering the cap on interchange fees. Also, Wells Fargo is seeking banks for its international payment network, and more in American Banker's global payments and fintech roundup.

Bank of Montreal has introduced a tokenized cash and deposit platform, while the London-based Monument is partnering with the Midnight Foundation's distributed ledger. Also, Starling Bank's AI play, stablecoins gain ground in APAC and Africa and more in the American Banker global payments and fintech roundup.

The payment firm's P2P app, which has only been available in the U.S., will provide a new lane for remittances and other cross-border payments.

New research from American Banker finds that the largest banks are the top players in stablecoin issuance and on-chain technology adoption.

Fintechs and the technology behind cryptocurrency are becoming popular, putting trillions in transaction value at risk for banks, according to Accenture.

When even a savvy expert in payments systems can't efficiently manage the transfer of funds to relatives in a crisis zone, it demonstrates that the system is failing us. We can and must do better.

The search giant has added Klarna to its growing list of companies that are supporting standards for agentic commerce. Also, Payoneer has added Indonesia and Mexico to its collections network and more in American Banker's global payments and fintech roundup.

The card networks entered separate partnerships to tap the remittance market, while the French payment company continued its turnaround strategy following regulatory and economic challenges.

The Swedish financial technology firm issued its first stablecoin and signed a gift card distribution deal with BlackRock. Also, EMVCo is examining AI's impact on processing and more in the American Banker global payments and fintech roundup.

The migration to the standard and its more robust data is underway, but experts say the desired reduction in payment errors will come slowly.

The U.K.-based banking giant will add a fintech that enables it to compete with Apple Pay, while Global Payments has added Uber Eats as part of its Genius-branded point of sale rollout. Plus: Visa has advanced account-to-account payments in the U.K. and more in the global payments and fintech roundup.

Zelle's parent Early Warning Services said Friday it was planning to take its peer-to-peer payments network international through a new stablecoin initiative. It says the details will come later.

There are regulatory and technology efforts to reform international payments, but it's a multifaceted, long process. Swift, The Federal Reserve, and fintechs like Wise and Revolut are pushing potential solutions. Here's what banks need to know.

Revolut receives a banking license, while SumUp introduces its payments hardware. That and more in the American Banker global payments and fintech roundup.