Tagged: Cross-Border Transactions

March 29, 2023 @ 8:38 am By Omar Faridi  |  

ZEBEDEE, a payments processor, has announced an overhaul of how users can move money across the world. The upgraded feature for borderless transactions showcases “the power and potential of global, friction-free and currency-agnostic payments and represents a significant improvement and simplification of how anyone can… Read More

March 22, 2023 @ 10:33 pm By Omar Faridi  |  

Arf, the Swiss-regulated global settlement banking platform, with support from the Stellar Development Foundation, is now offering what it claims is “the world’s first unsecured, short-term, USDC-based working capital financing solutions for licensed financial institutions.” Making cross-border payments faster, cheaper, and more transparent and inclusive… Read More

March 21, 2023 @ 9:21 pm By Omar Faridi  |  

Western Union (NYSE:WU) and MoMo announced a strategic collaboration “enabling customers to receive Western Union money transfers on the MoMo app.” It is reportedly the “first” time a money transfer operator’s services “have become available on a leading super app in Vietnam.” Key insights from… Read More

March 18, 2023 @ 2:57 pm By Omar Faridi  |  

National Australia Bank (NAB) has completed an intra-bank cross-border transaction using NAB-issued stablecoin, which represents a “world-first” by a major financial institution on a layer-one public blockchain. This pilot transaction on the public and permissionless Ethereum blockchain “involved deployment of stablecoin smart contracts for seven… Read More

March 15, 2023 @ 6:45 pm By Omar Faridi  |  

Ria Money Transfer, a firm focused on the cross-border money transfer industry and business segment of Euronet (NASDAQ: EEFT), and ACLEDA Bank Plc., Cambodia’s leading retail bank, announced a partnership that “broadens cross-border money transfer services available to and from Cambodia.” This expansion of Ria’s… Read More

February 27, 2023 @ 10:31 pm By Omar Faridi  |  

Western Union (NYSE:WU)  and Beforepay (ASX: B4P) announced a first-of-its-kind collaboration, allowing consumers “to boost their cross-border money transfers by accessing reliable, ethical and affordable short-term lending.” Consumers can ‘Send Now, Pay Later’ by “borrowing up to AUD 2000 through Beforepay’s wage-advance product on Western… Read More

January 24, 2023 @ 10:05 pm By Omar Faridi  |  

Binance Pay, a cryptocurrency payment service powered by Binance, announced its partnership with DT One, a B2B micropayments platform. DT One is powering cross-border transfers of mobile top-ups, data bundles, gaming pins, and gift cards. This partnership will “enable more than 90 million Binance users… Read More

January 18, 2023 @ 9:52 am By Omar Faridi  |  

The financial services sector has evolved considerably during the past decade, with many new Fintech startups and banking challengers raising substantial funding to fundamentally improve how consumers perform transactions. Individuals and business organizations across the globe have been moving their activities online, a digital transformation… Read More

January 17, 2023 @ 11:17 pm By Omar Faridi  |  

Xoom, PayPal’s (NASDAQ: PYPL) international money transfer service, announced that it has launched a new cross-border money transfer product, Debit Card Deposit, “enabling Xoom customers in the U.S. to send money directly to their friends & family’s eligible Visa debit cards in 25 countries.” Launched… Read More

January 15, 2023 @ 8:25 pm By Omar Faridi  |  

SentBe, Korea’s fintech company, announced the official launch of its international money transfer service in the U.S., “a significant move in the company’s global expansion.” Customers, including migrant workers in the U.S., can now “send U.S. dollars to more than 50 countries with greater ease… Read More

January 8, 2023 @ 4:54 pm By Omar Faridi  |  

FLEETCOR Technologies, Inc. (NYSE: FLT), a global business payments company, completed the acquisition of Global Reach Group, a UK-based cross-border payments provider. With the acquisition, FLEETCOR “increases its cross-border payments scale and strengthens its position as a leading non-bank B2B global cross-border payments provider.” Global… Read More

January 2, 2023 @ 5:01 pm By Omar Faridi  |  

Millions of consumers are offering financial support to friends and family members residing abroad. However, when it comes to getting those (remittances) to the intended recepients, it is a lot more costly than it should be, according to an update from Fintech firm Wise (LSE:WISE)…. Read More

December 11, 2022 @ 9:58 pm By Omar Faridi  |  

Boost, which claims to be the leading regional full-spectrum fintech arm of Axiata, and Payments Network Malaysia (PayNet), the national retail payments network infrastructure announced that Boost merchants in Malaysia can now “accept cross-border payments from Thailand tourists via its DuitNow QR.” This new feature… Read More

November 30, 2022 @ 8:15 am By Omar Faridi  |  

AvidXchange (Nasdaq: AVDX), a provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, announced the launch of cross-border payments (CBP). The embedded payment experience will be “available first to Oracle NetSuite customers and accessible in AvidXchange’s newly… Read More

November 28, 2022 @ 11:07 pm By Omar Faridi  |  

With Banking Circle’s web3 payments solution, payments businesses and banks can process asset-backed stablecoin settlements “in the same way as fiat currencies, providing their customers with faster settlement and lower fees outside of traditional bank rails.” Banking Circle‘s USDC stablecoins solution can be “utilized for… Read More

November 15, 2022 @ 9:05 pm By Omar Faridi  |  

Brightwell, an Atlanta-based global payments technology company, announced a new cross-border payments solution, Brightwell’s ReadyRemit, powered by The Bancorp Bank, N.A., and Mastercard’s Cross-Border Services. ReadyRemit allows fintechs, businesses and program managers “to increase revenue and loyalty by offering a user-friendly, cross-border payments solution that… Read More

November 14, 2022 @ 9:47 pm By Omar Faridi  |  

Alipay+, a suite of cross-border payment and marketing solutions, has supported global online merchant partners “to serve over 100 million e-wallet users as they flock to take up the offers and benefits since the global Double 11 event kicked off on November 1.” The consumers… Read More

November 7, 2022 @ 10:27 pm By Omar Faridi  |  

Enjaz Payment Services Company, a Fintech company licensed by the Saudi Central Bank announced a partnership with Thunes, a global player focused on cross-border payments. This agreement will help customers in Saudi Arabia “to make instant international transfers globally to bank accounts and digital wallets… Read More

October 31, 2022 @ 8:37 am By Omar Faridi  |  

Banking Circle S.A. is set to help US payments providers expand out of the domestic market with low-cost and fast cross-border payments across 25 currencies. Underlining the momentum it has gained as an alternative to correspondent banking for cross-border payments, Banking Circle S.A. is “forecasting… Read More

October 11, 2022 @ 7:41 am By Omar Faridi  |  

The Financial Stability Board (FSB) recently published the priority themes for the next phase of work under the G20 Roadmap for Enhancing Cross-Border Payments, two years after the Roadmap was launched. The plan reportedly “includes the practical steps to be taken to strengthen external engagement… Read More