Cross border payments

Corporate payments provider WEX has added Visa commercial virtual cards to its platform for B2B payments.

Seattle-based digital remittance provider Remitly has raised $220 million in new investments and financing to accelerate its growth in more global markets.

Mastercard has closed its acquisition of cross-border payments provider Transfast, closing out a deal the card network announced in early March after dropping out of a bidding war with Visa for global payments company Earthport.

Merchant acquirer Credorax has engaged money transfer company Small World Financial and other partners to cover a broader mix of banking and payment acceptance available to the companies' European clients.

Payoneer, which developed a platform to facilitate cross-border payments, hired FT Partners to explore options for expansion, including a private funding round, according to a person familiar with the matter.

Naval Group, an international technology company specializing in naval defense systems, is among the first to complete a cross-border payment through Swift's global payments innovation early adopter program.

As the global gig economy expands, more workers moving between the U.S. and other countries for jobs or school need ways to handle funds in different currencies.

Distributed ledgers are already revolutionizing international transactions and trade finance. The added stability will bring about even greater adoption, argues Neutral's Matt Branton.

PPRO needed a quick fix to retain clients looking for a Latin American payments solution, acquiring local payments specialist allpago rather than embark on an IT project.

Mobile technology has improved the process of sending cross-border remittances, but most international money transfer services still have a long way to go before they’re streamlined and real-time.

Much is made of the U.S. e-commerce market given the influence of Amazon and its peers. However, when it comes to sheer size in both population and volume, Asia holds significant advantages.

Cross-border money transfer provider WorldRemit has secured $175 million in new capital in a Series D funding round to challenge legacy money transmitters in the fast growing cross-border payments market.

Payments messaging standards provider Swift has received a license to offer connections to all of the Eurosystem market infrastructures for payments, securities settlement and collateral management.

Payments technology provider AscendantFX has added an international payment scheduling service to its APay online payment platform to help corporations automatically schedule and submit batches of cross-border transactions in advance of due dates.

TransferWise Ltd. leapfrogged fintech startups, more than doubling its valuation to $3.5 billion in a fundraising round that pushes back the need for an initial public offering.

Interac is adding Mastercard Send to support a $24.5 billion market for cross-border payments that originate in Canada.

Visa’s recent green light from U.K. regulators to complete its Earthport acquisition was more than just the clearing of a regulatory hurdle — it was a revealing look at how important it has become for the card networks to diversify.

While the European Union positions itself as one common, homogeneous market, the reality is that the European e-commerce market is very diverse with both leaders and laggards.

The Italian family that founded a bank in the 14^th century and pioneered branches and letters of credit is now setting up a tech-forward, crypto-friendly disruptor in the United States.

Most do not have an independent treasury function, making cross-border finance difficult, contends Chen Amit, CEO and Co-founder of Tipalti.