Cross border payments

Visa and Remitly have formed a partnership enabling U.S. consumers to send cross-border remittances in real time via Visa Direct, the card network’s debit push-payments service.

MoneyGram is investing more time and technology in helping law enforcement agencies spot the scammers moving money on its network.

Digital payment innovators have shown an almost limitless propensity to home in on banks’ turf, and Citigroup is ready to strike back.

As more U.S. e-commerce merchants look to accept cross-border payments, they must contend with payment processes that are less straightforward than they are used to — but which consumers have come to expect.

Billions of dollars in investments are pouring into digital payments, but the hefty numbers obscure a regulatory and competitive squeeze that could shut banks out of the profits for good.

Citigroup Inc. is jumping into the battle over the $90 billion in swipe fees that merchants pay each year to process debit and credit cards.

Bank technology giants FIS and Fiserv are spending nearly $66 billion between them in just the past few weeks to add a broad swath of payments technology — including a few key nuggets that will help them go toe to toe with fintechs.

The tech company has taken World Wire, its blockchain-based cross-border payments network, live in 72 countries.

Ideally, Swift would like to see its worldwide bank network fully adopt its Global Payments Innovation initiative as well as the ISO 20022 messaging standard for cross-border payments.

Italian payments provider Axepta-BNL Group is launching the WeChat Pay service to its clients, saying it is the first in the country to offer the popular Chinese mobile payment and social networking app.