Payments News

On The Web

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SWIFT Calls for Participation From All for Future of Cross-border Payments | ZDNet

“Financial network SWIFT has described its vision for cross-border payments that aims to make them as seamless and convenient as domestic ones, with a white paper calling for a future that is instant, accessible, and ubiquitous. In its white paper Payments: Looking to the Future – Instant, Accessible, Ubiquitous (SWIFT – Engineering a payments revolution), SWIFT […]
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Domains

India’s Payments Firm MobiKwik Kick-starts Its International Ambitions With Cross-border Mobile Top-ups

“MobiKwik, a mobile wallet app in India that has expanded to add several financial services in recent years, said today it plans to enter international markets as it approaches profitability with the local operation. The company is kick-starting its overseas ambitions with cross-border mobile top-ups support. The 10-year-old firm said it has partnered with DT […]
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Domains

TransferWise’s Debit Card Launches in Australia and New Zealand, With Singapore to Follow

“International money transfer startup TransferWise ’s debit card is now available in Australia and New Zealand, with a Singapore launch expected by the end of this year as the company expands its presence in the Asia-Pacific region. TransferWise’s debit card, which features low, transparent fees and exchange rates, first launched in the United Kingdom and […]
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Banks Near Zero Hour on $124 Trillion of Flows

“While exorbitant currency spreads and hefty bank charges are the norm for payments that cross national borders, the impression that they mostly affect individuals is wrong. Annual people-to-people transactions amount to $400 billion a year. People-to-business payments – like sending fees to schools overseas – come to another $1.5 trillion. Those are substantial figures, but they pale […]
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The Money-Transfer Newbies Nip at the Incumbents’ Heels

“Relative newcomers to the world of money transfers such as Remitly Inc., TransferWise Ltd., and WorldRemit Ltd., which specialize in end-to-end digital transactions, are nibbling away at the market share of agent-based leaders The Western Union Co. and MoneyGram International Inc., says a new report from research firm Aite Group LLC.  Overall, the global money-transfer […]

On The Wires

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Deals

PPRO Acquires Allpago to Become the Market Leader in Local Payments

“PPRO , the cross-border e-payments specialist, is today announcing the acquisition of Latin American payments provider allpago to create the world’s leading platform for local payments. Allpago is the preeminent provider of payment and gateway services in Latin America covering 90% of the market1. This expansion is a transformational step for PPRO to meet its […]
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SnapPay Supports Alipay and Wechat Pay for Canadian and US Merchants

“SnapPay, Inc. , provider of international payment solutions, today announced how small and independent businesses can easily offer popular Chinese mobile payment applications, Alipay and WeChat Pay . Offering Chinese mobile payments provides small businesses in North America the opportunity to secure substantial incremental revenue and drive customer loyalty. With SnapPay’s payment gateway, retailers and […]
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Deals

Ripple Announces Strategic Partnership With Money Transfer Giant, MoneyGram

“Ripple, a provider of leading enterprise blockchain solutions for global payments, has agreed to enter into a strategic partnership with MoneyGram (NASDAQ: MGI), one of the world’s largest money transfer companies. Through this partnership, which will have an initial term of two years, Ripple would become MoneyGram’s key partner for cross-border payment and foreign exchange […]
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Mastercard and R3 Partner to Develop New Blockchain-Powered Cross-Border Payments Solution

“Earlier this year, Mastercard strengthened its cross-border network reach with its acquisition of Transfast . Today’s announcement complements the company’s formidable capabilities by providing access to R3’s Corda ecosystem, which includes more than 300 of the world’s leading financial services firms, technology companies, central banks, regulators and trade associations.”
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Domains

Canadian Fintech Launches Industry-leading Cross Border Bill Pay Solution for Financial Institutions

“Canadian fintech Buckzy Payments Inc. today announced an enhancement to its real-time cross border network by including real-time cross border bill pay through a single connection, solving a longstanding challenge to international bill payments. Despite many industry leaders attempting to find real-time cross border bill payment solutions, Buckzy is the first to present a functional […]