Cross border payments

James Freis took charge of Wirecard AG on Friday and the question he faces on Monday is what, if anything, he will be able to salvage of the payment company.

The move to digital providers could mean cheaper cash transfers for a demographic that has been hard hit by this pandemic, with both senders and receivers being financially affected.

Given American Express was reporting a 95% hit to one of its core businesses less than two months ago, announcing access to the world’s largest digital payments market has to be a major sigh of relief — even if there’s still entrenched competitors, an international virus and a cold war to navigate.

MineralTree has retooled its platform so midsize corporations may process domestic and international invoices through one channel, and the firm has also formed a partnership with TransferMate to improve users' global currency payment options.

Paysafe is expanding the reach of its Skrill digital wallet to U.S. consumers who will be able to use it to send funds to 18 countries.

Japanese credit card giant JCB plans to use technology from FIS to enable cross-border QR code payments as digital wallet use rises across Asia.

As small businesses' cash flow tightens during the pandemic, Alibaba Group is enabling SMBs to postpone payments for 60 days on cross-border e-commerce purchases.

The coronavirus pandemic has made paper money literally a dirty word, causing a rush to digital payments that may be too fast for Western Union and MoneyGram to keep up with as separate companies.

Western Union Co. is seeking to acquire rival money transfer company MoneyGram International Inc., according to a person familiar with the matter.

Kenya’s biggest source of foreign currency slumped last month, with the central bank indicating that shocks caused by the coronavirus will have a greater impact on the economy for the rest of this year.

The challenge posed by digital-only remittance services has prompted a rapid change at MoneyGram.

To get a better handle on the coronavirus-driven boom in Latin American e-commerce, cross-border processors are ramping up digital alternatives for shoppers who pay cash for online purchases.

Cross River Bank, a banking-as-a-service provider to fintechs, has signed Remitly to leverage its new push-to-card international payment service for near-real-time remittances.

Cross-border payment fintech dLocal is partnering with Canadian e-commerce company Shopify to enable small businesses to offer local payment methods in more than 19 currencies in emerging markets.

Consumer remittance behaviors are being forced to change, with senders and recipients moving to mobile wallets, bank accounts, and cards. But many still want cash.

The shortage of personal protective equipment (PPE) for medical workers is one of the most troublesome elements of the coronavirus outbreak, though prior work to declutter cross-border supply chain payments provides some hope.

Veem specializes in cross-border payments, but when small-business customers clamored for help this month with emergency SBA loans, the fintech responded.

Banco Santander has launched a new standalone international money transfer service called PagoFX in the U.K. to compete with fintechs.

Airwallex has raised $160 million in a Series D fundraising round to expand global payment offerings for small businesses and enterprises.

Amid the worldwide coronavirus crisis, making cross-border payments to emerging markets has been akin to putting together a jigsaw puzzle without many of its pieces.