Cross border payments

Digital payment innovators have shown an almost limitless propensity to home in on banks’ turf, and Citigroup is ready to strike back.

As more U.S. e-commerce merchants look to accept cross-border payments, they must contend with payment processes that are less straightforward than they are used to — but which consumers have come to expect.

Billions of dollars in investments are pouring into digital payments, but the hefty numbers obscure a regulatory and competitive squeeze that could shut banks out of the profits for good.

Citigroup Inc. is jumping into the battle over the $90 billion in swipe fees that merchants pay each year to process debit and credit cards.

Bank technology giants FIS and Fiserv are spending nearly $66 billion between them in just the past few weeks to add a broad swath of payments technology — including a few key nuggets that will help them go toe to toe with fintechs.

The tech company has taken World Wire, its blockchain-based cross-border payments network, live in 72 countries.

Ideally, Swift would like to see its worldwide bank network fully adopt its Global Payments Innovation initiative as well as the ISO 20022 messaging standard for cross-border payments.

Italian payments provider Axepta-BNL Group is launching the WeChat Pay service to its clients, saying it is the first in the country to offer the popular Chinese mobile payment and social networking app.

Our annual Most Influential Women in Payments feature, now in its seventh year, highlights the women who are creating change and opportunities in the payments industry. For the first time, the editors of PaymentsSource have also recognized one woman for lifetime achievement.

Jenifer Swallow has been here before, feeling the excitement of being in in an industry that was about to change commerce forever.

The uncertainty of the modern political climate has created a number of business issues — and a few opportunities for the companies that can guide others through difficult times.

Mastercard has dropped out of a recent bidding war with Visa to acquire Earthport, announcing it will instead buy Transfast, a different cross-border payments firm.

The mobile revolution is turning Western Union into a very different company, one that must adjust to new ways to pay while pouring substantial resources into fending off the threat of e-commerce.

INTL FCStone's Global Payments Division's foreign currency pricing has picked up enough momentum to extend beyond its initial launch to more than 350 correspondent banks globally.

Companies are scrambling to shore up Brexit strategies to ensure their payment systems work, a difficult if not impossible task given the political uncertainty. But it’s also an unavoidable complication, which Tipalti hopes will provide a boost for its service, which is built to expect uncertainty.

The slow U.S. adoption of real-time payments hurts half of Americans who live paycheck to paycheck, says Aaron Klein, a fellow at the Brookings Institution.

China dwarfs the U.S. market in e-commerce adoption and is likely to be soon giving lessons to internet executive from U.S. and Western countries.

As the cross-border B2B payments segment drives new activity among partners and investors, TransferMate has teamed up with Tradeshift, a startup specializing in payments within the supply-chain marketplace.

If competitors continue to seek ways to one-up the Society for Worldwide Interbank Financial Telecommunications messaging system for cross-border transactions, there is mounting evidence — and numbers — that many banks are comfortable with Swift's modern processes.

Hong Kong's mobile wallet AlipayHK has expanded to enable cross-border payments for the first time in Japan and other regions of the Greater Bay Area.