Cross border payments

The payments industry is getting pulled in two directions, as technology and e-commerce promise a borderless future for transactions while political forces apply the brakes.

The two payments companies failed to win U.S. government approval for their merger; the head of the Senate Finance Committee says he will leave when his term ends.

After a year of trying to appease U.S. regulators, Ant Financial and MoneyGram have terminated their merger agreement, challenging the Chinese company's strategy for global expansion.

Blockchain technology has uses beyond bitcoin, and many companies see merit in using it to handle cross-border payments. But blockchain isn't the only solution to the inefficiencies of international money movement.

TransferTo and Cellum, a leading international mobile wallet provider, have formed a strategic partnership enabling Cellum to expand its services by leveraging TransferTo’s cross-border payments network.

If we are going to make these global transactions easier for payers and receivers, these incumbents have to accelerate their progress and level of innovation, writes Mike Massaro, CEO of Flywire.

Banks and fintechs are competing heavily to modernize cross-border payments, and Citi is using its upgraded treasury unit to add speed to its own international cross-border digital payments capabilities in more than 60 countries.

Installment payments for e-commerce purchases are starting to take hold in North America as an alternative to standard credit cards, and PayBright is seeking a niche in Canada.

Along with crowdfunding and peer-to-peer lending, cryptocurrency can improve access to payments, credit and other financial services for SMEs, writes Eugene Green, CEO and founder of WishFinance.

The main spark for Azimo’s transaction growth in far-flung geographic regions came from its commitment to social media beginning four years ago.