Cross border payments

Two of the biggest providers of cross-border tuition payment services for international education are targeting more than 5 million students preparing for college studies abroad this fall.

The ability to expedite information with payment, specifically remittances, is the real challenge, writes Mike Fortmann, vice president of Southwest Region for NVoicepay.

Even as mobile payments at the point of sale have been slow or even faltering, as most research indicates, use of mobile for making large money transfers is climbing.

MoneyGram’s total revenue declined slightly during the second quarter to $410 million, resulting in flat growth compared to the previous quarter based on constant currency.

Bank Asia in Bangladesh has partnered with Western Union, enabling consumers to send and receive funds via a network of 1,250 bank agents throughout Bangladesh.

Flywire and Volvo Car USA have formed an agreement to streamline cross-border payments for international students leasing cars from Volvo.

Visa’s efforts to expand its mobile payments service mVisa in developing nations reached a milestone this month in Nigeria, the first country where banks are enabling cross-border payments with the QR code-based mVisa technology.

Since e-commerce merchants often operate without walls, it makes little sense to operate with borders.

PayPal is launching a cross-border trade service to help small and mid-sized businesses in the U.S. improve their international presence and sales.

WorldRemit is working with China-based handset maker Huawei Technologies to make WorldRemit’s money transfer service available on Huawei’s platform in Africa.

Stripe will collaborate with WeChat and Alipay to make it easier for merchants around the world to accept payments from Chinese consumers.

InstaReM plans to use the investment to accommodate rapid volume expansion.

International cross-border transaction enabler TransferTo has partnered with the e-commerce platform MallforAfrica enabling nearly 300 million African consumers with mobile money accounts to shop abroad.

Local payments are included in the e-commerce checkout process, allowing merchants to immediately sell products online to local customers.

The company wants to meet demand for corporate payments globally, especially in emerging markets.

As the company diversifies beyond international tuition payments, it's also looking to diversify transaction options.

Most executives see the value of the technology, but are still looking for definitive use cases before taking the leap.

The partnership is designed to serve the increasing numbers of tourists visiting Sri Lanka from India, providing payment card options that have local ATM support.

Just as we call letters "snail mail," in the future people may consider bank transfers snail money.

Payoneer believes British companies will seek opportunities outside of the EU, leading to international payments demand.