Cross border payments

Cross-border payments provider dLocal has expanded its network services in Africa and developed new partnerships in Nigeria and Egypt.

The two agencies proposed amending the Bank Secrecy Act to lower the threshold for transfers occurring outside the U.S. that trigger recordkeeping requirements.

Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar.

Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar.

The European Payments Initiative sets up a unified and harmonized pan-European payment solution, providing major benefits to both consumers and merchants, says FIME's Arnaud Crouzet.

The companies looking to bolster their presence and offer more services are hoping it will lead to greater sustainability and longevity of their platform, says Ding's Rupert Shaw.

Tipalti, whose platform supports cross-border B2B supplier payments, has raised $150 million in its latest funding round, bringing the total it’s raised from outside investors to $280 million.

Emerging market payments and foreign exchange provider Crown Agents Bank Ltd. is partnering with MTFX Group, a similar company based in Canada, to expand digital payments access across Africa.

Retailers that provide customers with their preferred way to pay — visible or invisible — will be the ones who prosper in today’s competitive marketplace, says PPRO's Matt Jackson.

Swift is working with more than 20 banks in its network to test a service designed to help consumers and small and medium-size companies send low-value cross-border payments with the same speed and transparency benefits larger banks enjoy on Swift rails.

Following compliance policies and respecting the requirements of the regulator is a good foundation for effective marketing communication, says Aximetria's Dmitry Ryzhkov.

Many companies seek ways to maintain their payments and collections functions centrally when expanding overseas, whether regionally or globally wherever possible, to avoid fragmented processes and technology, says Standard Chartered's Tarek Elyafi.

The conversation around advancing the distribution and use of digital currency gets a boost every time the banking system stubs its toe. And there have been many recent examples of financial system problems to point to.

Speed stands at the forefront of any real-time payments deployment, but the real staying power in new payments innovation rides on the development philosophy of the platform itself.

The pandemic and subsequent economic crisis have raised the stakes, since the government’s role in recovery and how stimulus is delivered — and policies impacting the goals of card and technology companies — will be largely determined by the philosophy of leadership.

Mastercard is working with cross-border tuition specialist Flywire on a fall promotion targeting international students based in certain countries in the Middle East and Africa.

After two years of helping banks connect globally to domestic faster payments rails, Swift is planning to expand on that concept.

After two years of helping banks connect globally to domestic faster payments rails, Swift is planning to expand on that concept.

The new unit plans to connect the startups it backs, such as the global payments network Veem, with experts at the company who can provide business advice.

Blockchain's cross-border power eliminates the intermediary and solves the problem of rendering the traditional processing system redundant, and processes the payment on a chain with no middleman intervention, says ForumPay's Joshua Tate.