EBA CLEARING, SWIFT and The Clearing House (TCH) are collaborating on a new initiative, Immediate Cross-Border Payments (IXB), to speed up cross-border money transfers and make the process easier. IXB has the support of 11 banks that contributed to the design, with seven participating in...
The great digital shift has enabled all sorts of merchants, particularly small and medium-sized businesses (SMBs), to move beyond their home territories and cross borders to tap new markets. Ran Grushkowsky, COO/CTO of USEND, told PYMNTS as firms move farther afield into other countries —...
Qatar National Bank (QNB) has unveiled its global cross-border payment strategy, which is happening through a partnership with the blockchain solutions provider Ripple. As the Gulf Times reported on Monday (Oct. 4), the partnership will see QNB pilot Ripple’s financial technology network, RippleNet, with QNB...
In the digital age, disintermediating the “hopscotch” between banks as payments make their way across the globe can have positive ripple effects. Justin Rice, head of ecosystem at Stellar Development Foundation, said open-source networks and blockchain could transform cross-border payments — improving financial inclusion and...
Western Union is teaming up with major financial institutions (FIs) in Africa to make digital cross-border money transfers and bill payments faster and easier, according to a press release on Thursday (Sept. 30). People using KCB Bank Kenya, the Diamond Trust Bank (DTB) and the...
For central bank digital currencies (CBDCs), time is of the essence. Literally. Just a few weeks after the Bank of International Settlements (BIS) urged central banks to get on board with CBDCs or risk being marginalized by stablecoins, the BIS has announced that CBDCs can...
Cross-border remittances are a lifeline for many developing economies, but high fees and long processing times can make timely payments difficult for those who may be the least able to afford delays. Some consumers now are turning to cryptocurrencies as a payment option that allows...
The global beauty and personal care industry achieved rapid growth over the last decade and is expected to keep soaring. Research forecasts that worldwide market value will reach $511 billion this year, up from $483 billion in 2020, and will rocket to $785 billion by...
The digital shift in U.S. consumers’ shopping habits has created new opportunities for Brazilian businesses. However, companies attempting to expand overseas and reach new customers must face numerous barriers to establishing and growing their commercial interests — especially when it comes to sending and receiving...
