Cross border payments

As small businesses' cash flow tightens during the pandemic, Alibaba Group is enabling SMBs to postpone payments for 60 days on cross-border e-commerce purchases.

The coronavirus pandemic has made paper money literally a dirty word, causing a rush to digital payments that may be too fast for Western Union and MoneyGram to keep up with as separate companies.

Western Union Co. is seeking to acquire rival money transfer company MoneyGram International Inc., according to a person familiar with the matter.

Kenya’s biggest source of foreign currency slumped last month, with the central bank indicating that shocks caused by the coronavirus will have a greater impact on the economy for the rest of this year.

The challenge posed by digital-only remittance services has prompted a rapid change at MoneyGram.

To get a better handle on the coronavirus-driven boom in Latin American e-commerce, cross-border processors are ramping up digital alternatives for shoppers who pay cash for online purchases.

Cross River Bank, a banking-as-a-service provider to fintechs, has signed Remitly to leverage its new push-to-card international payment service for near-real-time remittances.

Cross-border payment fintech dLocal is partnering with Canadian e-commerce company Shopify to enable small businesses to offer local payment methods in more than 19 currencies in emerging markets.

Consumer remittance behaviors are being forced to change, with senders and recipients moving to mobile wallets, bank accounts, and cards. But many still want cash.

The shortage of personal protective equipment (PPE) for medical workers is one of the most troublesome elements of the coronavirus outbreak, though prior work to declutter cross-border supply chain payments provides some hope.