Cross border payments

Texas-based digital gift card platform company Swych has launched a gift card service for instant cross-border gifting to India following its recent acquisition of GiftCardsIndia.

Wyre has entered into a definitive agreement to sell the majority of its retail money transfer business to WorldFirst, giving the seller a chance to focus more on its cryptocurrency strategy.

The cryptocurrencies join more than 60 different payment methods across 200 counties on Flow’s cross-border e-commerce platform, which includes Visa, Mastercard, PayPal, Alipay, WeChat Pay, Union Pay and many more

The fact remains that the vast majority of international payments are still done via banks and through the correspondent (SWIFT) network, writes Rosie Faulkner, vice president and money laundering reporting officer at Earthport.

The bureau announced the creation of the Global Financial Innovation Network for regulators to discuss joint policy work and offer a cross-border product testing process.

Understanding the obstacles of payment gateways and how to navigate them can help you expand your business and scale profits efficiently, writes Olivier Schott, founder and chief marketing officer of Scalefast.

Companies report that cross-border payments account for just 20% of payment volume but typically take 80% of accounts payable's time. That's simply not scalable. You can’t just keep throwing people at this problem, writes Karla Friede, co-founder and CEO of Nvoicepay.

The Trump administration's isolationist policies are slowing the flow of foreign students to American universities, and thus may hurt companies that rely on cross-border tuition processing to American corridors.

In the months since President Trump’s America First policies forced China's Ant Financial to abandon a proposed deal to buy Dallas-based MoneyGram, the U.S. company has forged other key partnerships to build a global digital remittance network.

Paying international suppliers through a bank portal is a painful, expensive process that creates unnecessary friction for burgeoning cross-border trade. There are better fintech alternatives, writes Karla Friede, CEO of Nvoicepay.

TransferMate, a cross-border B2B payments service, has received a $25 million investment from ING Group N.V. to accelerate its global expansion.

American Express Co. defended its prices for currency conversions after a report said employees boosted rates for some business customers without notifying them.

Flywire has raised $100 million in new venture capital to continue expanding its B2B cross-border payments platform beyond educational institutions to more corporations.

The recent tariff escalations could cause financial pain for specific shopping corridors, particularly in price-conscious locales.

India's regulatory approach shows it's serious about supporting myriad international payment technology plays, in contrast to China's doing the bare minimum to satisfy international pressure for openness.

Both PayPal and Citigroup are taking a bigger role in the market for cross-border payments, a strategy that led both companies to participate in a $50 million round in PPRO Group, a U.K.-based cross border e-payment company.

The payment landscape is highly regional, based on historic, economic, technical and political factors. Top payment methods in Europe, or even Southeast Asia, are generally unheard of in many other parts of the world, according to Steve Villegas, vice president of partner management for PPRO.

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.