Cross border payments

The bank's cross-border transaction service opens a new lane for customer acquisition in an increasingly competitive niche.

As innovation in other domains accelerates, the inertia plaguing our international payment systems is a critical bottleneck, stifling U.S. businesses that choose to engage in global commerce.

CaixaBank assembled a team of more than 100 people focused on generative artificial intelligence products, Ripple changed the name of RippleNet to Ripple Payments, and more.

Canada's government is preparing legislation to promote open banking development, Mastercard has gained approval to process payments in China, and more.

Ant Group's quarterly profit fell by 65%, dented by a one-time fine that signaled the end of China's yearslong crackdown on the tech industry.

The technology, which has its roots in cryptocurrency, could make corporate transactions more flexible.

NatWest is updating its chatbot, Cora, to make engagement more conversational, and Amex is working with the Canadian fintech Nuvei to promote bank-transfer payments to U.K. merchants.

There are three concrete steps policymakers and industry can pursue that will limit the damage that is being done by cutting vulnerable populations off from remittance payments.

Commonwealth Bank of Australia is examining how it can use generative artificial intelligence to simulate customers testing products, and U.S. Bancorp's Elavon unit receives a financial services license from the Bank of England.

NCR has completed the spinoff of its ATM business, Revolut doubles its number of fraud-fighters in two years, China builds a zone for digital yuan users, and more.

From hidden fees to misleading marketing, small businesses face too many challenges when making and receiving cross-border payments.

The Financial Conduct Authority is developing new rules that tighten how financial firms can use social media, Swift and a group of banks have successfully piloted instant payments between different countries and currencies, and more.

Interac launches ID verification, the U.K. cracks down on bitcoin ATMs, and more.

Visa halts single-click payments in India, ING uses recycled beach plastic for payment cards and more.

U.S. consumers may earn 3.92% interest on their account balances, with the choice to add pass-through Federal Deposit Insurance Corp. coverage through JPMorgan Chase for up to $250,000 of funds.

PhonePe backs away from a buy now/pay later acquisition, Germany fines EY for Wirecard scandal, and more.

U.K. regulators warn payment companies, Goldman Sachs invests in Saudi fintech, and more.

Digital apps drive 53% of cross-border transfers in key remittance zones, while one in 10 users move cash across borders in person, according to a Visa survey of 14,000 consumers.

This week's global news roundup include Canada's crackdown on crypto operators, Westpac's cloud project and more. 

The London fintech now allows users to send funds across borders to new payees without sharing sensitive bank account details.