Cross border payments

Citigroup is using tracking and transparency to push back against rivals that paint traditional bank-powered international payments as a costly, time-consuming relic.

The biggest Nordic banks expect to launch a new piece of financial infrastructure next year, promising to dramatically speed up international transfers in one of the world’s most technologically advanced regions.

As technology advances for business-to-business or cross-border transactions, the accompanying messaging standard must evolve at the same rapid pace.

As the trade war ramps up, some cross-border payment companies are steering into the storm by selling lower-cost automated processing as a way to offset expensive supply chains.

Due to regulations that are designed to thwart money laundering, anyone attempting to transact on a global scale will encounter a patchwork of complex laws and local requirements that make payments anything but borderless, writes Brandon Spear, president of MSTS.

Brexit's implications for the U.K.'s technology industry are deepening political fractures, with no clear answer as to how startups fintechs and challenger banks can operate in the U.K. after it leaves the European Union.

Nanopay is planning to add bank, processor and accounting software partners for a B2B cross-border and domestic transfer service which it says exceeds the performance of blockchain-based systems.

Geoswift, an international payments provider, has launched an inbound P2P service with the goal of simplifying the complex regulatory processes involved in sending money to China.

South Asian remittance firm InstaReM has launched its cross-border P2P and B2B digital money transfer service in the U.K. and the EU as it prepares for an IPO in 2021. It also expects to become profitable by then.

While Europe is still making sense of an international Visa outage in early June, fintech disruptor TransferWise experienced its own outage that lasted up to 11 hours on Thursday, with website, app and card payments unavailable to the company’s 1 million-plus users.