Cross border payments

Flywire is working with Bank of America to streamline cross-border payments for the bank’s higher education and corporate clients, whose foreign transaction traffic is rising along with global commerce.

Western Union has gone live with a service enabling real-time cross-border remittances to India harnessing Unified Payments Interface, the central bank’s payment rails.

Ravi Menon says that Facebook's bid to create its own digital currency has laid bare shortcomings in cross-border payments and financial inclusion that banks and regulators must address.

As e-commerce becomes international, American merchants should embrace alternative payment methods in other countries, says PPRO U.S.'s Steve Villegas.

Making a domestic or cross-border B2B payment should be as easy as a consumer making a payment at a retailer's point of sale. There are plenty of obstacles toward this goal, but also plenty of paths to success.

Incumbents and challenger fintechs dominate the remittance market, leading Majority to forge a very narrow use case for its initial corridor.

Ripple is collaborating with financial software company Finastra, boosting both companies' reach in the cross-border transaction market.

Europe's PSD2 doesn't directly impact Hong Kong, but its monetary decision makers support open banking frameworks, sparking a network of banks to support that effort through the help of HSBC and Swift.

PayPal’s cross-border remittance unit Xoom is hoping to build a faster payments market in South Korea by enabling direct delivery into bank accounts, a channel that tends to be more expensive than other options.

Samsung Pay users can use the app to send funds across borders to recipients with a bank account through a new service powered by Travelex.

The card networks are taking blockchain seriously as a means of streamlining cross-border B2B payments. But while they share a vision, they are taking different paths to this goal. Visa has opted for a closed network that it controls, while Mastercard envisages a wider, more open ecosystem.

Governments use varying methods for tracking the flow of money in and out of the country in order to deter fraud and money laundering, writes Nvoicepay's Alyssa Callahan.

Oak HC/FT is the lead investor in a $100 million round in Rapyd, a company that’s designed to serve a complex international supply chain.

How PayPal obtained a payments license to operate in China — an achievement that’s long frustrated the biggest U.S. banks and payments networks — sheds light on the unique challenges of breaking into the world’s biggest payments market.

The use of data-rich messaging through the ISO 20022 standard has been at the core of nearly every Federal Reserve discussion about faster payments, as well as Swift's plans for its member banks.

TransferWise once marketed itself as Robin Hood-style rival to banks. Now it sees itself as an ally.

Today, borderless supply chains define business opportunities and brick and mortar presence is just an afterthought, says Amex's Dean Henry.

The direct threats to the Trump presidency and Boris Johnson's tenure as prime minister of the U.K. create an extra layer of uncertainty for fintechs.

Older treasury management and B2B payments technology is constricting overall business, but the technology migration is also difficult, argues Bottomline Technologies' Bill Wardwell.

Emphasizing its expansion into multi-channel payments, Credorax is partnering with mobile point of sale developer BBPOS to provide mobile POS solutions for independent software vendors and sales organizations across Europe.