Tagged: cross-border payments

Siam Commercial Bank in Thailand to Launch Ripple-based Consumer International Payments Mobile App

The Siam Commercial Bank (SCB) in Thailand will be launching its Ripple-based consumer international payments mobile app. The SCB, which is one of the country’s largest commercial banks, began using RippleNet (Ripple company’s decentralized network of financial institutions) in order to connect to major banking… Read More

Western Union Launches “Digital Location” Feature for Sending and Receiving Money from Users’ Homes to Prevent Further Spread of Coronavirus

Global money transfer service provider, Western Union (NYSE: WU), has launched a new feature called, “Digital Location,” which allows users to send and receive funds from their own homes. Western Union revealed that it’s testing out the combined telephone and video service, which allows users… Read More

Hong Kong-based EMQ, a Global Financial Settlement Network, to Connect to Singapore’s Fast and Secure Transfers Network

Hong Kong-headquartered EMQ, a globally accessible financial settlement network, recently revealed that it’s planning to connect to Singapore’s Fast and Secure Transfers (FAST) network and also offer services in other Southeast Asian countries such as Malaysia. EMQ’s solution will allow businesses to easily make digital… Read More

Financial Giant Santander Group Is in the Final Stages of Introducing Cross-Border Payments Service, PagoFX

Banco Santander S.A. (Santander Group) (BME:SAN), the world’s 16th-largest banking institution and financial services company based in Madrid, is reportedly in the final stages of introducing its new Fintech spinout PagoFX, which will compete with leading cross-border money transfer service provider, TransferWise. Sifted reported that… Read More

Bank for International Settlements Releases Report on Fintech, Tokenized Securities, CBDCs, Cross-Border Payments & P2P Platforms

The Bank for International Settlements (BIS) has released a 138-page report which examines the latest trends in payments and Fintech, including tokenized or digital securities, central bank digital currencies (CBDCs), international transactions, and peer-to-peer (P2P) platforms.   Hyun Song Shin, head of research at BIS noted… Read More

American Fintech Ripple’s Clients Might Soon be Able to Issue Stablecoins via Cross-Border Payments Platform, RippleNet

RippleNet, a distributed ledger tech (DLT)-enabled gross payments settlement network, allows banks and other financial institutions to securely perform cross-border transactions.  Developed by San Francisco-based Fintech Ripple, the decentralized RippleNet platform has been used to perform international transactions since 2012. The platform’s users might soon… Read More

MoneyGram Received $11.3 Million from American Fintech Ripple During Q3 and Q4 of 2019 as a “Market Development Fee”

Giant money transfer service MoneyGram reportedly received a total of $11.3 million from San Francisco-based Fintech firm Ripple during the third and fourth quarters of last year. As mentioned in the recently released US Securities and Exchange (SEC) filings, the funds received by MoneyGram may… Read More

Digital Asset Exchange Bitso Aims to Capture 20% of Remittance Market from US to Mexico

Digital asset exchange Bitso managed to capture a little more than 2% of the remittance market from the United States to Mexico in 2019 and now aims to gain a 20% market share by the end of this year. Established in 2014, Bitso experienced significant… Read More

MoneyGram Introduces New Real-Time Cross-Border Payments Service that Doesn’t Use Ripple’s Tech Despite Major Partnership

Global money transfer service provider MoneyGram has introduced a new service that lets users send payments in real-time, however, the new platform notably doesn’t involve the company’s business partner Ripple (which acquired $30 million in MoneyGram shares at a high premium last year). MoneyGram’s management… Read More

dLocal Partners With Amazon For Local Payments Acceptance Services in Chile

dLocal, a fintech company specializing in facilitating cross-border payments for global e-commerce merchants in emerging markets, announced on Tuesday Amazon has gone live with the dLocal local payments acceptance services in Chile. dLocal claims that the solution enables some of the world’s most innovative companies… Read More

Standard Chartered Introduces Public Portal For Real-Time Tracking of Cross-Border Payments

Standard Chartered, a UK-based multinational banking and financial services company with $688 billion in assets, announced on Tuesday the launch of SC GPI Track, which is described as a publicly accessible portal that offers the ability to trace all cross-border payments cleared through Standard Chartered’s… Read More

FCA Regulated E-money Institution Financial House Partners ONPEX to Enable Cross-Border Banking Services

Financial Conduct Authority (FCA) regulated e-money institution (EMI), Financial House, has teamed up with ONPEX, an established provider of multi-currency IBAN accounts. The partnership is aimed at enabling the EMI to provide international transaction banking services to its client base. UK-headquartered Financial House offers software-as-a-service… Read More

Vietnam’s TPBank Joins RippleNet to Make Faster and Cheaper Cross-Border Payments

Vietnamese Tien Phong Commercial Joint Stock Bank (TPBank) has reportedly teamed up with American Fintech Ripple, in order to join RippleNet, a decentralized network of financial institutions and service providers that allows users to conduct quick and cheap international transactions. Notably, TP Bank was among… Read More

Ripple Set to Bring Blockchain Technology to Finastra’s Banking Customers

Ripple, a provider of enterprise blockchain solutions for payments, announced on Wednesday it has teamed up with Finastra to offer its blockchain technology through Finastra’s payment solution to support cross-border payments. It was revealed: “As part of the collaboration, Finastra’s customers will be able to… Read More

Circle International Forms Partnership With Lakala to Facilitate Cross Border Payments Between Malaysia & China

On Monday, Circle International announced it has formed a partnership with payment gateway platform Lakala to facilitate cross border payments between Malaysia and China.  While sharing details about the partnership, CEO and Founder of Circle, Dato’ Brian Tan, stated: “Through the partnership with Lakala, Circle International… Read More

Cross-Border Invoicing on the Radar: Flywire Acquires Startupbootcamp FinTech London Alum PACE Invoice

Flywire, an international payment solutions provider (formerly peerTransfer),  announced that its acquisition of London-based PACE Invoice, a multi-currency invoicing platform provider and an alumni of Startupbootcamp FinTech London. With the acquisition, Flywire adds international invoicing to its cross-border payments and receivables services, enabling its business,… Read More

21 Banks Initiate SWIFT’s Global Payments Pilot Initiative: Opting for Speed, Transparency and Predictable Cross-Border Payments

SWIFT, a global member-owned cooperative and a leading global provider of secure financial messaging services, announced that 21 banks have started the pilot for its global payments innovation initiative, intended to improve the customer experience in correspondent banking by increasing the speed, transparency and predictability of cross-border payments. The… Read More

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