Payments

Cross-border payments do not and should not exist in a vacuum, says Veem's Marwan Forzley.

If bankers have learned anything from treading a pandemic, it’s that providing personal services at the moment of need has become even more essential than it was before, says Jack Henry's Tede Forman.

Acting Comptroller of the Currency Brian Brooks said the agency plans to issue new assessment procedures within weeks as a follow-up to recent Community Reinvestment Act reforms. He also touched on the “true lender” issue and why the agency is considering a narrow-purpose payments charter.

Seven trade groups said they would fight any effort by the agency to establish a tailored license for payments providers such as PayPal, Stripe and Square.

One way banks can prepare for a smooth cutover to new standards is by implementing a core banking / payment solution that uses ISO 20022, says Infosys Finacle's Peter Ryan.

Remitly has raised $85 million in its latest fundraising round, valuing the company at $1.5 billion as the COVID-19 pandemic drives consumers to increasingly send remittances digitally.

The pandemic’s physical distancing requirements appear to have accelerated transaction volume and overall use of Zelle, the P2P app operated by the bank-owned Early Warning Services LLC.

Republicans and Democrats are negotiating a new coronavirus stimulus package, but there’s still no law on the books designed to erase the problems that prevented many stimulus payments from getting directly to recipients.

E-commerce payments provider dLocal has added a merchant dashboard to provide a simpler display of transactional data and multi-currency management for cross-border payments.