Cross border payments

Homeis, an internet platform that creates social immigrant communities, has partnered with money transfer fintechs Remitly, TransferWise and Afriex as it registers its millionth user.

Bank of America has launched a cross-border payment tracker through its Swift GPI module that allows clients real-time visibility into their international payments.

TransferGo will use Mastercard's push payment service to support near real-time money transfers for European customers.

After tests with several banks that established Swift's ability to connect its Global Payments Initiative faster payments rail to domestic networks, the financial and messaging standards organization is activating the service in the U.K.

HSBC for the first time is offering customers a way to send funds instantly across borders to other HSBC customers via a mobile device.

Payoneer has integrated its payment orchestration platform into its core services, a year after obtaining the cloud-based technology through the acquisition of German payments provider Optile.

When the pandemic hit full-force and lockdowns closed many agent locations, the industry’s shift to digital accelerated quickly. Even as job losses rose among those sending money overseas, the demand from recipients kept money moving, including among legacy companies like Western Union and MoneyGram.

MoneyGram's digital offerings are attracting different types of consumers into the company fold, CEO Alex Holmes said during the third-quarter earnings call.

Though the COVID-19 pandemic continues to stifle economic growth globally, Western Union again pointed to its fast-growing digital services as key to keeping the company on a positive trend.

After selling the rights to its Ethereum-based technology, the bank is rebranding a venture related to cross-border payments and creating a new umbrella group to oversee all blockchain-related efforts.