Cross border payments

Denizen is designed for expats and migrants to receive money and make payments without international transfer fees or currency exchanges.

Digital money transfer provider SimbaPay has added an artificial-intelligence-powered chatbot that will enable banks and other companies to offer international money transfer to customers across Africa and Europe through text messaging.

China's declaration on Wednesday that its payments market is now open to foreign companies gives Chinese payments processors an opportunity to grow globally — but it's made similar moves before, with little effect.

The speed at which money transfer payments are evolving from legacy, paper-based systems to digital platforms couldn’t be more stark at Western Union, where Sheri Rhodes has just been named executive vice president and chief technology officer.

Flywire is teaming up with Flutterwave to improve payments technology in Nigeria, which has Africa’s highest number of international students and medical patients traveling outside the country.

Cryptocurrencies bring truly worldwide reach and a single set of rules and fees for the whole globe, writes Kirill Radchenko, CEO of Paygine.

TransferWise, which recently added a consumer-targeted account to its business-to-business services, has selected Wirecard to issue a cross-border debit card for consumers.

deVere Group has added "Companion Accounts," which is designed to remove fees and enable shopping and expense management for relatives and companions that are in other countries, such as students or spouses.

Even if a business is located in the U.S., it’s where the service is delivered that determines if the GDPR rules governing data protection in the EU apply, writes Mia Papanicolaou of Striata.

Trustly, a Stockholm-based startup whose technology enables cross-border and online payments, has partnered with optile, a German online payments company, to expand the number of European merchants it supports for direct online bank payments.

The many fintech startups that burst on the scene to compete with Western Union or MoneyGram are morphing into something else — white label providers for companies running on dated infrastructure.

Sentbe, a South Korean international money-transfer company, is expanding its payout options and market reach in a partnership with the mobile cross-border payments network TransferTo.

Long after e-commerce removed the biggest obstacles preventing U.S. merchants from selling internationally, there are still untapped pockets of opportunity.

Money launderers are opportunists and the real estate sector is a weak link when it comes to regulation, writes Jay Ryan, an executive vice president at Accuity.

WorldRemit has launched international remittance services in New York, one of the last big U.S. markets where it lacked a money transmitter license, positioning the company for a growth surge this year.

The network says more than $100 billion in Swift GPI payment messages are sent daily, enabling payments to be credited to the end beneficiaries within minutes — and some within seconds.

eBay’s change of payments processor signals the strong and continuing shift toward local, alternative methods of payment around the world, writes James Booth, head of business development for PPRO.

Eyeing sectors with increased independent work forces and growing tourism, cross-border payments provider Transpay says it is making its business-to-business mass payout platform available in Australia, New Zealand and South Africa.

International officials are discovering they can sometimes avoid bank fees by replacing currency transfers with the technology at the heart of Bitcoin.

Cross-border transactions are getting smaller in size and more frequent, rendering the correspondent banking model increasingly obsolete as new use cases pile up.