Tagged: International Transactions

March 25, 2021 @ 2:09 pm By Omar Faridi  |  

Ada Vaughan, who focuses on Ecosystem and Marketing Strategy at the Stellar Development Foundation (SDF), notes that in an “increasingly cashless” and global economy, the separations between the different financial systems may lead to friction when you’re operating an international business. If you carry out… Read More

February 17, 2021 @ 10:41 pm By Omar Faridi  |  

Blockchain startup Lightnet has teamed up with MoneyGram, a leading provider of cross-border peer to peer payments and money transfer services. MoneyGram will be integrating Lightnet’s technology with its fund transfer services so that customers can access a wide range of payout services across the… Read More

November 14, 2020 @ 2:52 pm By Omar Faridi  |  

Blockchain security firm Ciphertrace has noted that FinCEN’s suggested rule change for the Travel Rule Threshold would “more than double” compliance events for US-based virtual asset service providers or VASPs. CipherTrace confirms that FinCEN had released a proposed rule change (in October 2020). The recommendation… Read More

November 6, 2020 @ 11:00 am By Omar Faridi  |  

We recently connected with Patricia Montesi, Co-Founder and CEO at Qolo, a Fintech firm focused on B2B payments and facilitating cost-effective cross-border transaction processing. Montesi discussed what her company is doing to help businesses with settling payments in a more efficient manner. She also talked… Read More

October 22, 2020 @ 2:44 pm By Omar Faridi  |  

Emburse, a company focused on providing expense management solutions and accounts payable automation, has introduced Emburse Global Reimbursements – which is powered by global money transfer service provider, TransferWise (which recently booked its 4th year of profitability while processing £67 billion in transfers in the… Read More

September 13, 2020 @ 4:48 pm By Omar Faridi  |  

Marcus Treacher, the SVP of Customer Success at American Fintech Ripple, notes that the world’s cross-border payments market is highly fragmented. But he claims that international transactions are now being redefined by “the power of ISO standardization” and the innovative technology approach of RippleNet, which… Read More

August 7, 2020 @ 8:21 am By Omar Faridi  |  

The global payment industry and ecosystem has been growing steadily. The sector is projected to be valued at $2.7 trillion by 2023. Some of the challenges faced by the payment industry include high transaction fees, inefficient cross-border transactions, poor or lack of interoperability between different… Read More

August 4, 2020 @ 7:39 am By Omar Faridi  |  

San Francisco based Fintech firm Ripple has released its quarterly XRP Markets Report. The company notes in its report, that as an XRP holder, Ripple “believes proactive communication and transparency are part of being a responsible stakeholder.” During Q2 2020, total XRP sales were valued… Read More

August 2, 2020 @ 10:15 pm By Omar Faridi  |  

UK-based Fintech and stealth bank TransferWise recently revealed that it has taken an “exciting” step towards modernizing and streamlining global banking in Asia. The company confirmed that it has brought TransferWise for Banks, its “bank-friendly” API integration, to Asian markets, allowing financial institutions to surface… Read More

July 29, 2020 @ 10:35 pm By Omar Faridi  |  

Kelvin Lee, the Southeast (SE) Asia head for Fintech firm Ripple, notes that the more businesses that begin supporting and integrating PayID into their platforms, the better off the digital payments ecosystem will be. Ripple, which is leading the Open Payments Coalition (OPC), is reportedly… Read More

July 26, 2020 @ 8:00 pm By Omar Faridi  |  

  We recently caught up with Sky Guo, a founding member at the OMFIF Digital Monetary Institute, the global central banking think tank that assists policymakers with understanding central bank digital currencies (CBDCs). Guo, who’s also the founder of Cypherium, which focuses on enabling interoperability… Read More

July 15, 2020 @ 10:50 pm By Omar Faridi  |  

The emergence of new Fintech industry participants such as the Facebook-led Libra project have made it clear that the existing, global cross-border payments system can be improved. A Bank for International Settlements (BIS) committee report on Payments and Market Infrastructure (CPMI) has noted that countries… Read More

May 28, 2020 @ 9:35 pm By Omar Faridi  |  

More than $30 billion worth of transactions a year are carried out via the US-Mexico remittance corridor, which is notably one of the world’s largest cross-border payments channels. The rise in the adoption of Bitcoin (BTC) and other cryptocurrencies has allowed some users to perform… Read More

May 17, 2020 @ 11:49 pm By Omar Faridi  |  

Ripple company partner and investor, SBI Holdings, is planning to integrate the Fintech firm’s technology, in order to process transactions via ATMs throughout Japan. SBI’s management noted in its recent financial report that it will integrate the Ripple technology-based settlements solution, MoneyTap, with ATMs operated… Read More

May 4, 2020 @ 7:43 pm By Omar Faridi  |  

Alexander Holmes, chairman and CEO at giant money transfer service MoneyGram (NASDAQ:MGI), says it was a “quiet quarter” for the company when it comes to developments related to its partnership with American Fintech firm, Ripple. Holmes, whose comments came during an earnings call for Q1… Read More

April 25, 2020 @ 6:58 pm By Omar Faridi  |  

Fintech TransferWise, a London-based online money transfer service founded in 2011, has been offering debit cards to its customers at no extra cost. The company supports hundreds of currency routes across the globe, including GBP, USD, EUR, AUD, and CAD. However, TransferWise recently noted: “From… Read More

April 24, 2020 @ 8:49 am By Omar Faridi  |  

Fintech firm Currencycloud has introduced a new API that offers SWIFT GPI tracking of international payments. Previously, the only entities providing cross-border transaction tracking services were banking institutions. Currencycloud aims to enter this market, and plans to make payment tracking as straightforward as tracking packages…. Read More

April 21, 2020 @ 1:35 am By Omar Faridi  |  

Singapore-based remittance firm TranSwap is reportedly holding discussions to secure $5-10 million in capital. Benjamin Wong, co-founder and CEO at TranSwap, confirmed that the cross-border payments company is planning to close its investment round “quite soon”. As reported by e27, the Fintech firm has acquired… Read More

April 17, 2020 @ 7:50 am By Omar Faridi  |  

Banco Santander S.A. (Santander Group) (BME:SAN), the world’s 16th-largest banking institution and financial services company based in Madrid, has officially introduced PagoFX, its international payments application for UK customers. Last month, Santander had revealed that it was in the final stages of developing its cross-border… Read More

April 13, 2020 @ 7:30 pm By Omar Faridi  |  

Kristo Käärmann, co-founder and CEO at London-based TransferWise, a privately-held Fintech firm that allows individuals and businesses to send money abroad at affordable and transparent rates, revealed that 25% of the cross-border transfers facilitated by the firm are now instant. Earlier this month, the TransferWise… Read More