Businesses around the world are doubling down on their cross-border innovation amid a growing need for faster, more efficient business-to-business (B2B) payments — and their payments decision-makers are given the difficult task of identifying the innovations in which they should invest. There is no one-size-fits-all...
For all the innovation that domestic payments infrastructure has witnessed in recent years, cross-border transactions largely remain, in a word, inefficient. The correspondent banking system remains an opaque and sluggish method of moving money across borders, and alternatives to this strategy have historically been unsuccessful...
Mike Massaro, CEO of Flywire, believes that in our quickly digitizing and global economy, cross-border payments are key to business success. In The Connected Economy’s Power Source – CEO Edition, Massaro breaks down what can hamper expansion and how digital tools can aid progress. Payments...
Sid Singh, president, U.S. information solutions for Equifax, discusses how the pandemic has created the ideal environment for a digital payments migration – and why he believes the convergence of eCommerce and consumer finance has only just begun. Ready more in The Connected Economy’s Power...
In the race to bring central bank digital currencies (CBDCs) to market, central banks’ efforts and progress run the gamut from exploratory (such as in the U.S.) to fully-launched (such as in the Bahamas). As to where those digital currencies may first find favor, tied...
The old saw about thinking globally but acting locally has never been more important than it is right now in the world of global payments. And it’s easy when you do the math. The digital-first economy has not been limited to the U.S. or EU;...
Cross-border commerce has become central to the success of countless United States and United Kingdom businesses, many of which are looking abroad for new growth opportunities. PYMNTS’ latest research shows that cross-border sales make up 26 percent of the total annual average for U.S. and...
Western Union Business Solutions, the payments arm of Western Union, is looking at expanding its cross-border payment services for business customers, a press release says. According to the release, Western Union Business Solutions has integrated SWIFT Global Payments Initiative and also boosted its international currency...
TransferWise will change its name to simply Wise, a press release says, which will reflect the broader change of the company beyond its original roots as a money transfer company. Wise was initially launched in 2011 with just money transfer services. However, its services have expanded...
