Payments News

On The Web

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Domains

New EU Tax Rules Stand to Stimulate Cross-border Payments for U.S. Merchants

“Online cross-border payment technology is opening new markets for e-commerce firms and new shopping options for consumers — but the European Union’s tax system hasn’t kept pace, creating compliance headaches for U.S. digital merchants and confusing bills for customers on the Continent. In an attempt to fix that problem, the European Commission has simplified its […]

On The Wires

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Domains

EMQ Bolsters Real-Time Cross-border Payments Across Southeast Asia With Expansion to Thailand

“Global financial settlement network EMQ today announced that it has significantly augmented its real-time cross-border payments across Southeast Asia by adding Thailand’s PromptPay to the network. This major enhancement further expands our global payment capabilities into Thailand, providing global enterprises with the most comprehensive financial solutions to capture new opportunities across the markets.”
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Deals

Visa to Acquire Currencycloud

“Visa (NYSE: V) today announced it has signed a definitive agreement to acquire Currencycloud, a global platform that enables banks and fintechs to provide innovative foreign exchange solutions for cross-border payments. The acquisition builds on an existing strategic partnership between the two companies and values Currencycloud at £700 million, inclusive of cash and retention incentives. […]
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Deals

Thunes Acquires Limonetik to Accelerate Rollout of Global Payment Collections

“Cross-border payments leader Thunes today announced the acquisition of Limonetik, a European Payment Methods Platform. This move will complement existing Thunes Cross-Border Payments solutions by enabling businesses to get paid in 70 countries, using over 285 local payment methods such as mobile wallets, payment by instalments (BNPL), QR code payments and more. The solution will […]
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Domains

Monetary Authority of Singapore and Banque De France Break New Ground in CBDC Experimentation

“The Monetary Authority of Singapore (MAS) and Banque de France (BdF) today announced the successful completion of a wholesale cross-border payment and settlement experiment using central bank digital currency (CBDC). The experiment, supported by J.P. Morgan’s Onyx, simulated cross-border transactions involving multiple CBDCs (m-CBDC) on a common network between Singapore and France. This is the […]
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Domains

EU approval marks major milestone for realising a pan-Nordic real-time payments infrastructure

“P27 Nordic Payments has today secured merger approval from the EU Commission to establish its pan-Nordic payments platform. This is a major milestone in creating one common payments infrastructure throughout the Nordics. The P27 platform will enable domestic and cross-border payments in real-time, in batches and in multiple currencies. The merger approval from the EU Commission […]
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Domains

SWIFT to Eliminate Frictions in International Payments by Upfront Verification of Account Details in Real Time

“SWIFT today announced the go-live of a service that will enable banks to verify payee account details before an international payment is sent, removing a key point of friction in cross-border transactions. The new Payment Pre-validation service is a core building block in SWIFT’s strategy to drive instant and frictionless transactions worldwide. Most cross-border payments […]
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Domains

Global Processing Services and Currencycloud Partner to Offer Complete, Enterprise-grade, Cross-border Payments Solution – Currencycloud

“Multi-award-winning payments processor, Global Processing Services (GPS), today announces that it has joined forces with Currencycloud, the experts simplifying business in a multi-currency world, to widen access to cross-border payments for financial institutions and Fintechs, providing a passport to a post-COVID world. The pandemic has accelerated the digitalisation of payments and the move away from […]
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Domains

Cambridge Global Payments Announces New Partnership With Steamchain Corp.

“Cambridge Global Payments (“Cambridge”), a FLEETCOR company (NYSE: FLT) and a provider of integrated cross-border payments and currency risk management solutions, and Steamchain Corp. (“Steamchain”), a technology platform focused on helping to reduce the cost of currency conversion, currency fluctuation risk and cumbersome document flow, are pleased to announce they have partnered to bring a […]
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Domains

Cambridge Global Payments Announces New Partnership With Sage

“Cambridge Global Payments (“Cambridge”), a FLEETCOR company (NYSE: FLT) and a provider of integrated cross-border payments and currency risk management solutions, is pleased to announce a new partnership with Sage, a leader in cloud-based business management solutions. This partnership integrates Cambridge’s online trading and payments platform with the Sage Intacct cloud financial management system to […]