Cross border payments

PPRO needed a quick fix to retain clients looking for a Latin American payments solution, acquiring local payments specialist allpago rather than embark on an IT project.

Mobile technology has improved the process of sending cross-border remittances, but most international money transfer services still have a long way to go before they’re streamlined and real-time.

Much is made of the U.S. e-commerce market given the influence of Amazon and its peers. However, when it comes to sheer size in both population and volume, Asia holds significant advantages.

Cross-border money transfer provider WorldRemit has secured $175 million in new capital in a Series D funding round to challenge legacy money transmitters in the fast growing cross-border payments market.

Payments messaging standards provider Swift has received a license to offer connections to all of the Eurosystem market infrastructures for payments, securities settlement and collateral management.

Payments technology provider AscendantFX has added an international payment scheduling service to its APay online payment platform to help corporations automatically schedule and submit batches of cross-border transactions in advance of due dates.

TransferWise Ltd. leapfrogged fintech startups, more than doubling its valuation to $3.5 billion in a fundraising round that pushes back the need for an initial public offering.

Interac is adding Mastercard Send to support a $24.5 billion market for cross-border payments that originate in Canada.

Visa’s recent green light from U.K. regulators to complete its Earthport acquisition was more than just the clearing of a regulatory hurdle — it was a revealing look at how important it has become for the card networks to diversify.

While the European Union positions itself as one common, homogeneous market, the reality is that the European e-commerce market is very diverse with both leaders and laggards.