Payments News

On The Web

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Domains

Bank Indonesia to issue cross-border QR code payment regulation

“Bank Indonesia is preparing a cross-border regulation on QR code transactions that is expected to come into effect early next year. “The cross-border regulation is for regulating QR code transactions in rupiah made by foreign players,” a BI source said as quoted by kontan.co.id on Sunday. The unnamed source said the regulation would facilitate domestic financial institutions […]
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Domains

TranSwap releases cross-border payments API

“Singapore-based cross-border payments company TranSwap has launched its proprietary platform to help SMEs streamline their payment processes and seamlessly make FX payments at the most competitive rates. As SMEs are increasingly transcending geographical borders and going global, TranSwap’s platform allows businesses to make payments to over 45 countries. SMEs can also choose to integrate with TranSwap’s […]
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Domains

TransferWise partners with Dutch challenger bank Bunq

“TransferWise, the European fintech unicorn that enables low-cost international money transfer, has always had ambitions of being a platform in the truest sense. In addition to its direct-to-consumer app, the company offers an API for integration with other fintechs and banks, although it is fair to say that third-party integrations of this kind have been quite slow […]
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Domains

SWIFT gpi – Unlocking The Future of Correspondent Banking

“In the largest change in cross-border payments for the last 30 years, leading banks came together with SWIFT to create the global payments innovation initiative – SWIFT gpi. Adoption of SWIFT gpi has been rapid and continual since its launch in January 2017.The service now processes US$100 billion in cross-border payments daily. Over 85 banks are […]
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Domains

Finablr’s UAE Exchange, Ripple to begin blockchain payments by first quarter

“Asia was one of the biggest recipients of the roughly $613 billion in remittances sent globally last year, with a large swathe coming from expatriate workers in the Middle East, where UAE Exchange, part of payments and foreign exchange company Finablr, is one of the main players. Most funds are currently sent through foreign exchange branches […]
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Domains

Interview: Transferwise – the power of partnerships

“Cross-border payments were ripe for disruption and doing more than most to shake up things is peer-to-peer (P2P) specialist, Transferwise. Its number of partnerships with banks is multiplying while, in parallel, it is adding settlement options, most recently for direct access to the euro payment infrastructure through a euro settlement account with the Bank of […]

On The Wires

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Domains

Western Union Digital Expands in Asia: Mobile App Now Live in Singapore

“The Western Union Company (NYSE: WU), a leader in cross-border, cross-currency money movement, has launched the Western Union® mobile app in Singapore, connecting customers to their families and loved ones around the world, 24/7. Activation of the app in Singapore has given Western Union a digital trifecta in Asia this year, as Singapore now joins Hong Kong and Malaysia in […]
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Domains

Veem Opens Global Payments Platform to Canadian Market

“Veem, a global payments company built for small businesses, announced it has extended its payments platform to Canada. Effective immediately, Veem will offer fast, cost-effective, and secure transfers between international business partners in more than 95 countries. The integration allows Canadian users to execute transactions through the platform in a seamless, transparent manner. The Veem platform supports […]