Cross border payments

The banking industry's march to ISO 20022 compliance by a November deadline has been sluggish, but the messaging organization isn't budging.

As FedWire becomes the latest ISO 20022 migration to get pushed back, Vantage Bank and Wings Credit Union discuss the difficult upgrade.

Prometeo aims to make business-to-business payments and remittances between the U.S. and Latin America easier and cheaper.

The company sells capital markets technology to small banks that have growing international processing needs, betting the lack of client overlap prevents a big bank/small bank competition.

The money-transfer company's move came after the U.S. State Department last week renewed sanctions against the island nation. That, plus Klarna and Standard Chartered get bullish on crypto; Trump's not the first politician to rail at pennies; and other international payments and fintech news.

Countries around the world have lots of incentives to build an alternative to the U.S.-centric global payments system using central bank digital currencies. The U.S. must get in the game or see its economic might begin to wane.

Cross-border person-to-person payments are vital to the survival of millions of vulnerable people. Right now, fees eat away at their money, and slow processing times create unnecessary stress. The financial services industry and partners in government can fix this problem.

Ripple, MoneyGram and FV Bank all bolstered their ability to distribute digital assets, with cross-border transactions emerging as a primary use case.

A punitive tax on payments sent overseas to the families of immigrants would have a cascading set of consequences — all of them bad.

Around the world, low-income communities are routinely cut off from modern payment infrastructures, causing serious economic harm. We must work toward a future in which they are included.

The payments platform is preparing for expansion to a market that has a fast-growing real-time transaction rail, making the country a hot spot for international investment.

As with EVs, digital money was a niche product for years before gaining widespread acceptance. Now, digital blockchain-based monies might be on the verge of a major breakthrough.

Banks are boosting their use of new machine learning to improve security risk, but securing international transactions presents a different set of challenges.

The Chinese technology giant is partnering with BNP Paribas to reach more merchants; Sequoia makes an investment offer that could boost confidence in Stripe; and more.

Circle, Stripe and Coindesk all make moves to add scale for digital asset transactions.

The Biden administration should widen the scope of its junk fee initiatives and provide small- and medium-size businesses with relief from excessive international payments charges.

Mastercard launches palm checkout in Uruguay, the U.K. commits to a gradual rollout of King Charles banknotes starting this week, and more.

The Swedish financial institution argues over potential regulations that treat buy now/pay later lending like credit cards in the U.S.; Discover seeks the next hot market for real-time payments; and more.

Amex is working with Worldpay to reach businesses in the U.K., Western Union has resumed remittances to Cuba after shutting down that corridor in 2020, and more.

National Australia Bank is adding a Pay By Bank option for near-instant payments, Italy is bringing open-loop payments to buses in Tuscany, and more.