Cross border payments

PayPal's digital money transfer service Xoom will allow Japanese immigrants and others in the U.S. to send money for deposit into bank accounts in Japan.

The University of Illinois is getting an education in how complex tuition payment processing can be, especially when the students enrolled from outside of the U.S. It also serves as an example of the clients that are in big demand for cross-border payment companies seeking larger volumes.

Continuing a fast global expansion pace for both companies, digital money transfer providers WorldRemit and Xpress Money are partnering to open new remittance routes to Southeast Asia.

International mobile money transfer firm WorldRemit is in the midst of a broad expansion of its services to various global regions, relying on a handful of strategic partners with a focus on new regions.

Two clients of French bank BNP Paribas processed and cleared several live payments over the bank’s Cash Without Borders product.

Citi Treasury and Trade Solutions has appointed Hubert J.P. Jolly as its global head of payments and receivables, effective immediately.

The Philippines is considering regulations for digital currencies as the government seeks to bolster protection for the increasing number of overseas Filipinos using bitcoin and its counterparts to send money home.

Sydney-based Octet Finance, a provider of supply chain management and financing tools for small and midsize businesses, has formed an alliance with Mastercard enabling users to make cross-border payments using their existing Mastercard credit and debit card accounts via virtual card technology.

As global e-commerce proliferates, payment platforms are stepping up to cater to U.S. merchants eager to sell their wares in emerging markets. But there can be as many risks as there are opportunities when entering a new market.

Facing security challenges at its member banks and competition from other tech providers, the Society for Worldwide Interbank Financial Telecommunication [Swift] plans to put its best foot forward in 2017.