Cross border payments

From hidden fees to misleading marketing, small businesses face too many challenges when making and receiving cross-border payments.

The Financial Conduct Authority is developing new rules that tighten how financial firms can use social media, Swift and a group of banks have successfully piloted instant payments between different countries and currencies, and more.

Interac launches ID verification, the U.K. cracks down on bitcoin ATMs, and more.

Visa halts single-click payments in India, ING uses recycled beach plastic for payment cards and more.

U.S. consumers may earn 3.92% interest on their account balances, with the choice to add pass-through Federal Deposit Insurance Corp. coverage through JPMorgan Chase for up to $250,000 of funds.

PhonePe backs away from a buy now/pay later acquisition, Germany fines EY for Wirecard scandal, and more.

U.K. regulators warn payment companies, Goldman Sachs invests in Saudi fintech, and more.

Digital apps drive 53% of cross-border transfers in key remittance zones, while one in 10 users move cash across borders in person, according to a Visa survey of 14,000 consumers.

This week's global news roundup include Canada's crackdown on crypto operators, Westpac's cloud project and more. 

The London fintech now allows users to send funds across borders to new payees without sharing sensitive bank account details.

CBDC tests in Japan, real-time payments in Singapore and India, and more. Here's what's happening around the world.

United Arab Emirates plans to launch a central bank digital currency this year; Adyen adds travel payment cards; and more.

Bank of England releases digital pound details, CBA adds anti-scam tech, and more. Here's what's happening around the world.

About two dozen banks in the U.S. and Europe, including ABN Amro and Bank of America, are working with The Clearing House and EBA Clearing, using technology from SWIFT, to make instant international transactions ubiquitous for business and e-commerce sales.

Several central banks and the Bank for International Settlements have developed prototypes for a common digital currencies platform that has the potential to make cross-border payments more efficient.

The California bank will let customers of a neobank called BayaniPay Wallet use its branches.

Hispanic adults are underbanked compared with their white counterparts, according to the Federal Reserve. Challenger banks such as Tend and Viva First are reaching out to this population with bilingual services and low-cost money transfers.

The payments firm Boku is uniting hundreds of fragmented mobile apps to compete with Visa and Mastercard for unbanked consumers in different regions of the world.

The London neobank, which has applied for a banking charter in California, is working to undercut banks on pricing for consumer payments to Mexico.