Cross border payments

Small World Financial Services is addressing a gap in its cross-border network by making a deal to buy French money transfer agent MoneyGlobe.

The U.K.’s departure from the European Union is still causing lots of headaches for financial technology companies, but there’s now enough clarity to work with. And that often means operating from a new address.

For many international enterprises, cross-border e-commerce processing is table stakes. And the more complex the payment, the more important it is to handle it quickly.

While many consumers and large businesses are keen to adopt digital, real-time payments, there are still some groups of users that tend towards longer-established payment methods that are inconsistent with the digital economy, according to Standard Chartered's Tarek Elyafi and Shantanu Vijaykumar Bhosale.

Whether it’s an online sale or a corporate supply chain, the need to silently transfer and convert currencies is inspiring a mix of rapid product development and investment.

The formerly invite-only challenger bank Majority has launched across the U.S. offering free remittances to four African countries.

Oceanpayment, a payment service provider launched six years ago in Shenzhen, China that specializes in global online e-commerce transactions, has agreed to provide merchant acquiring services for JCB, Japan’s top credit card brand.

Like its rival Mastercard, payments volume is on the rise at Visa, but the coronavirus complicates the near-term economic outlook and makes China an even tougher market.

Visa, along with Google Ventures, invested in an $80 million Series E fundraising round in cross-border B2B payments provider Currencycloud.

Alipay and WorldRemit will enable consumers to send remittances to the Alipay app to support broader use for payments and other financial services.

Square's merchants have shown early interest in cryptocurrency payments, and if merchants accept this new concept, it could exist along with other Square services to support numerous use cases, including broader financial services.

While the size of the global remittances market may ebb and flow with the global economy, one thing is clear – it’s massive, at over $700 billion in payments each year and growing.

Ebanx isn't new to the payments technology game in Latin America, having focused on cross-border e-commerce technology a few years ago to allow consumers in that region to make purchases from international merchants.

Fintech bank and payment services provider LHV is now providing real-time payments in the U.K. through the country's Faster Payments scheme, allowing it to handle U.K. currency in addition to euro payments in the Single Euro Payment Area through SEPA Instant.

Businesses have to ensure they're not losing money on the currency exchange, and volatility in the local market could upset their earnings or pricing structures in those areas, says Rapyd's Joel Yarbrough.

Stablecoins, with their instant settlement and high liquidity, averts the issues that have long plagued cross-border transactions

2019 kicked off with a series of large, multibillion-dollar acquisitions that promised to forever change the landscape of the payments industry. And while those big deals were clustered at the start of the year, many other pivotal deals took place over the course of the year.

When the European Union began developing the Single Euro Payments Area more than a decade ago, it didn't include a vision for real-time payments and the potential for a third European payments scheme.

Pakistan’s central government is using its post offices to follow through on an initiative to ease electronic funds movement for remote workers sending money home.

Targeting about 1.5 million Canadians who routinely visit the U.S. for extended periods — especially during the winter — TD Bank is collaborating with Visa to enable debit push payments for easier cross-border funds movement.