Cross border payments

Plans by IDT and MercuryFX to test XRP for cross-border payments are another vote of confidence for Ripple’s products.

The San Francisco startup behind the cryptocurrency XRP claims it can send money around the world faster, cheaper and with greater transparency.

Despite the mad rush among investors to buy up bitcoin, XRP and other prominent cryptocurrencies, these digital coins have largely failed to operate as instruments for payment. MoneyGram's deal with Ripple might change that, or it might be the first nail in the crypto coffin.

Ripple, the startup looking to help the financial industry speed up payments with blockchain technology, said MoneyGram International Inc. is testing the use of its XRP digital currency to move funds.

Billionaire’s bid to buy MoneyGram is his latest setback trying to crack the U.S. market; banks want to stick with FICO while nonbanks want to use VantageScore.

The payments industry is getting pulled in two directions, as technology and e-commerce promise a borderless future for transactions while political forces apply the brakes.

The two payments companies failed to win U.S. government approval for their merger; the head of the Senate Finance Committee says he will leave when his term ends.

After a year of trying to appease U.S. regulators, Ant Financial and MoneyGram have terminated their merger agreement, challenging the Chinese company's strategy for global expansion.

Blockchain technology has uses beyond bitcoin, and many companies see merit in using it to handle cross-border payments. But blockchain isn't the only solution to the inefficiencies of international money movement.

TransferTo and Cellum, a leading international mobile wallet provider, have formed a strategic partnership enabling Cellum to expand its services by leveraging TransferTo’s cross-border payments network.

If we are going to make these global transactions easier for payers and receivers, these incumbents have to accelerate their progress and level of innovation, writes Mike Massaro, CEO of Flywire.

Banks and fintechs are competing heavily to modernize cross-border payments, and Citi is using its upgraded treasury unit to add speed to its own international cross-border digital payments capabilities in more than 60 countries.

Installment payments for e-commerce purchases are starting to take hold in North America as an alternative to standard credit cards, and PayBright is seeking a niche in Canada.

Along with crowdfunding and peer-to-peer lending, cryptocurrency can improve access to payments, credit and other financial services for SMEs, writes Eugene Green, CEO and founder of WishFinance.

The main spark for Azimo’s transaction growth in far-flung geographic regions came from its commitment to social media beginning four years ago.

Hoping to streamline the payment options across Europe, the European Payments Council has launched the SEPA Instant Credit Transfer scheme.

TransferWise Ltd., the London-based international payments firm and one of Europe’s largest financial technology startups, said revenue in the fiscal year through March 2017 has more than doubled, allowing the company to post its first annual profit.

National Payment Corp. of Vietnam (NAPAS) and Ant Financial Services have signed a memorandum of understanding for a strategic partnership extending acceptance of Ant’s Alipay wallet to Vietnam.

Citigroup is extending a technology program that's designed to cut excess out of international supply procurement.

Financial institutions process hundreds of thousands of interbank payments per day on behalf of their clients, which can be revolutionized by blockchain, writes Angel Diaz, vice president of technology and advocacy for IBM Digital Business Group.