Cross border payments

Brex's second license in the European Union is a key step in cementing turning payment relationships in the EU into broader financial relationships, including card issuing and cross-selling.

Western Union's North American money transfer business logged a decline in cross-border remittance revenue, led by drops in the U.S. to Mexico corridor, its largest remittance stream by far. The company is also bracing for the 1% remittance tax codified in the "Big Beautiful Bill," a levy that does not directly apply to banks.

The fintech has made its core payment app interoperable with Venmo and will connect 2 billion users through partnerships in India, China, Brazil and other major digital commerce markets.

The U.K. fintech's shares fell about 5% in London, partly due to international currency volatility. It hopes a U.S. listing will improve the company's ability to raise capital.

Governments must reconsider policies that treat migrants sending money home as risks rather than contributors. Regulators should remove barriers to affordable transfers and enable innovation that puts people first.

Citigroup is on a quest to modernize its global payments stack and be the go-to financial institution for cross-border payments and international corporations. Debopama Sen, head of payments at Citi's Services business, spoke with American Banker about the divisions' progress since its Services Investor Day in June 2024.

The president's rush to weaponize trade policy is going to accelerate efforts by other countries to decrease their reliance on U.S.-based payments processors. That's not in the country's interest.

Pro-crypto regulations could draw U.S. banks into the market, providing fresh competition. CEO Paolo Ardoino spoke with American Banker about the digital asset firm's strategy.

The payments company hopes to build its brand outside of its U.K. home base while attracting a deeper investor pool.

A focus on client relationships, rather than products, and investments in AI are helping the company in an increasingly competitive market.