Cross border payments

TransferWise Ltd., the London-based international payments firm and one of Europe’s largest financial technology startups, said revenue in the fiscal year through March 2017 has more than doubled, allowing the company to post its first annual profit.

National Payment Corp. of Vietnam (NAPAS) and Ant Financial Services have signed a memorandum of understanding for a strategic partnership extending acceptance of Ant’s Alipay wallet to Vietnam.

Citigroup is extending a technology program that's designed to cut excess out of international supply procurement.

Financial institutions process hundreds of thousands of interbank payments per day on behalf of their clients, which can be revolutionized by blockchain, writes Angel Diaz, vice president of technology and advocacy for IBM Digital Business Group.

TransferWise, one of the fintechs that have challenged old-school banking models for international transactions, is entering a new phase that adds geographies and different markets for its account alternative.

Finance organizations serious about protecting their customers need two-factor authentication, which involves the mobile phone when logging in to transfer money, writes Michael Patterson, CEO of Plixer.

Many standard procedures are possible as there are significant similarities in the information requirements across the globe, writes Zac Cohen, general manager for Trulioo.

TransferWise Ltd., the London-based international money transfer service that is considered one of Europe’s more promising financial technology startups, is lowering the fees it charges to send money from the U.K., the company said Monday.

The Society for Worldwide Interbank Financial Telecommunication says its Global Payments Innovation service surpassed two million cross-border payments during September.

IBM plans to use blockchain technology to power real-time execution for international transfers, joining the push to streamline a traditionally cumbersome payment type.