Cross border payments

Processors that rely on cross-border payments to reach new territories are feeling the economic squeeze of the looming Brexit deadline.

It's unclear whether the Trump administration can or will declare a national emergency as part of the trade dispute between the U.S. and China, but the discourse alone could disrupt major business relationships that involve American retailers, payment companies and Chinese firms.

E-commerce's dramatic expansion gives any merchant the opportunity to sell in any market. That leaves payment providers scrambling for an angle in a crowded market.

India has taken a hard line on cryptocurrency, but other blockchain payments innovation is thriving.

The U.K.’s Equals Group’s FairFX currency unit has purchased Hermex FX, another U.K. firm serving corporate customers with currency exchange and payment services.

Despite being compliant, market-specific deployments leave retailers facing a new set of compliance challenges when moving into new geographies, argues Arnaud Crouzet, VP of security and consulting at FIME.

As technology advances, new terms are existing with older vocabulary, causing potential confusion that challenges user experience, says NvoicePay's Alyssa Callahan.

Russia and its BRICS partners are developing cross-border alternatives to U.S.-dominated payments systems such as Swift, driven by the rise in cross-border trade and a desire to find non-dollar alternatives to international payments systems vulnerable to sanctions by the U.S. government.

Blockchain and cryptocurrency innovations threaten to upend mainstream remittance providers, but there are still market gaps that may be best served by a large bank footprint.

Swift completed a seven-country trial of its cross-border GPI Instant payment service resulting in the successful integration with Singapore’s domestic instant payment network FAST.