Payments News

On The Web

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Domains

Central Banks Face Key Decisions on Digital Currency, Says BIS

“Central banks will have to make “fundamental” decisions on cross-border access for a digital version of their currency to serve as a means of payment effectively, a committee at the Bank for International Settlements said on Monday. “Central banks must make critical choices on the access of non-residents and foreign financial institutions to central bank […]
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Domains

Buna (The Arab Regional Payments Clearing and Settlement Organization)

“The Arab Monetary Fund (AMF) and the African Export-Import Bank (Afreximbank) announced today the signing of a Memorandum of Understanding (MoU) that sets the foundation for cooperation and interoperability between Buna, the cross-border and multi-currency payment system owned by the AMF, and the Pan-African Payment & Settlement System – PAPSS owned by Afreximbank.   Under the […]
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Companies

UK Fintech Startup Leatherback Raises $10M for Its Cross-border payments Led by ZedCrest

“Immigrants, international students, and the migrant population in general all require international payments, or foreign exchange. Revolut and Wise are among those platforms to have taken advantage of this international audience. Now, fintech startup Leatherback , a U.K.-based cross-border payments platform, has raised what it describes as a $10 million pre-seed round led by ZedCrest […]
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Domains

Form3 Taps Goldman Sachs Transaction Banking for Cross-border Payments

“Goldman Sachs Transaction Banking (TxB) and Form3, the leading cloud-native payment technology provider, today announced a new solution that delivers FX and payments capabilities to Form3’s banking clients. Form3’s platform will leverage TxB’s cross-border payments and Foreign Exchange (FX) execution capabilities to introduce a value added service for Form3’s regulated financial institution customers.”
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Deals

Sequoia-backed SwooshTransfer Raises Millions of Dollars to Automate Cross-border Payments

“SwooshTransfer , which recently received an angel funding round of “several million dollars” from investors, including Sequoia China and K2VC, is one of the new players trying to make international transactions easier for Chinese businesses and beyond. The company declined to disclose the exact funding amount. After a decade at Alibaba and its fintech affiliate […]
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Domains

Fed up With Fees? Crypto Use Is Growing for Cross-border Payments – Survey | ZDNet

“A new survey released today by non-profit Stellar Development Foundation and UK-based cryptocurrency payments platform Wirex has revealed a heightened awareness, and increasing use and acceptance, of cryptocurrencies for cross-border payments in four key developed and emerging countries — United States, United Kingdom, Mexico and Singapore — indicating that crypto is being used for sending […]
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Domains

Santander Launches Instant Payments Into Brazil From Europe

“Santander’s SME and corporate clients in Spain, from today, will be able to make immediate international payments to recipients in Brazil, in Brazilian Real, through the One Trade solution. Part of PagoNxt’s Trade business unit, the One Trade solution will allow international transfers to be completed in minutes, allowing senders to comply with FX documentation […]
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Domains

Verto Announces Expansion of Currencies Offering for Instant Cross-border Payments Worldwide

“Verto , the leading B2B cross-border foreign exchange (FX) and payments enabler, announced the increase in the number of supported currencies that customers can convert between and make payments in. Verto’s customers can now accept and send payments instantly in 12 new currencies, all from one single and easy to use platform, further eliminating the […]

On The Wires

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Companies

TerraPay Obtains License in the USA; Aims to Strengthen Footprint in Key Global Markets

“Leading global digital payments infrastructure company, TerraPay, announces that it has secured the money services business (MSB) license in the State Of Florida, The United States Of America. This license will facilitate the company’s unparalleled and robust cross-border payments infrastructure to mobilize international remittances from the region in real-time, at low costs, and help offer diverse value-added […]
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Domains

Nium Introduces New Global Brokerage Payments Solution to Provide Faster, Lower Cost Alternative to SWIFT Settlement

“Nium , a global leader in modern money movement, today introduced a new brokerage payments solution that offers international financial institutions (FIs) a faster and more cost-effective method of settling transactions to select U.S. brokerages enabling customers to easily invest in U.S. equities. When compared to transactions settled via the SWIFT International Payments Network, Nium […]