Cross border payments

The payments technology that powers international trade is crucially important because it helps streamline the processes and trim the costs of conducting business overseas, according to Darren Hutchinson, head of commercial in the Americas for WorldFirst.

The highly lucrative remittance business, once the sole purview of established players with large agent-based locations such as Western Union and MoneyGram, is under an all-out attack by digital fintechs.

The popularity of technology-driven international transactions are making their way to TransferWise's balance sheet.

The Bank of Lithuania has been courting fintechs which need an EU payments or banking license to operate in Europe. In July 2018, it introduced an e-licensing tool that makes it cheaper and quicker to submit the information necessary to obtain an operating licence.

International e-commerce is booming these days and so too are the opportunities—and challenges—for payments players.

It’s possible for all types of companies to live in tandem and ultimately, benefit from this new business ecosystem, writes Khalid Fellahi, senior vice president and general manager of Western Union Digital.

About half of Swift Global Payments Innovation transactions are credited within 30 minutes and many within seconds.

Very few organizations have adopted blockchain technology for any meaningful day-to-day use. But a change could be afoot.

The DirectRemit service will enable the large British population in the UAE to send funds to family members' Lloyds Bank accounts in less than 60 seconds and to other U.K.-based banks within an hour.

The Society for Worldwide Interbank Financial Telecommunication, or Swift, has named David Scola, a former Barclays exec, its new head of North America operations.