Cross border payments

When the European Union began developing the Single Euro Payments Area more than a decade ago, it didn't include a vision for real-time payments and the potential for a third European payments scheme.

Pakistan’s central government is using its post offices to follow through on an initiative to ease electronic funds movement for remote workers sending money home.

Targeting about 1.5 million Canadians who routinely visit the U.S. for extended periods — especially during the winter — TD Bank is collaborating with Visa to enable debit push payments for easier cross-border funds movement.

U.K. all-in-one card firm Curve has launched an international no-fee transfer service called Curve Send that supports account-to-account remittances through its mobile app.

The San Francisco-based Ripple, which launched in 2012, will use the funding to add personnel to its global organization and enrich its services that power payments using blockchain technology with its XRP platform.

Fresh off a public offering and shopping boost, Alibaba Group has entered into an agreement with Commercial Bank of China (ICBC) to build digital finance services in areas such as cross-border finance and electronic payment settlement.

Visa has formed a strategic partnership with Global Processing Services. It also announced its Visa Direct debit push service will power real-time cross-border payments in Europe via TransferWise.

In theory, the beauty of e-commerce is that a merchant can court any shopper in any part of the world with an internet connection. In practice, attracting a shopper and providing them with the customer experience they expect will look different in every country, says Lee Clifton of JP Morgan Merchant Services.

Large banks’ embrace of PSD2-influenced open banking has often been reluctant. Not so for Citigroup.

Former T. Rowe Price portfolio manager Henry Ellenbogen is making Rapyd his first bet.