The cost of collecting cross-currency payments - setting up currency accounts, FX conversion costs (can be as high as 200 bps or more) and the processing charges - can be 3-5% + of the value of the…
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Coinaa show how to use Bitcoin for international payments today. Plus how the new point of sale terminals opens door to a steady-to-exponential growth in the use of Bitcoin
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Will take many years to achieve due to many local SEPA formats and local practices
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Future is virtual as virtual banking/virtual payment technology now fully understood and available
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Insanity of SEPA one leg-out ACH payments not being allowed
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Will this at least peg banks’ international payment charges in 2014?
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One-stop-shop conversion suite will enable banks & corporates to meet 1st February deadline
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Now includes 140 currencies, expanded ACH offering, double same day & next day available currencies
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Although there has been a move to other currencies in the past 10 years, much of the Asia-Pacific's trade, including intra-regional flows, is still invoiced, and settled in USD. And some are settled in EUR.
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The latest World Payments Report from CAPgemini, RBS and EFMA is another tour de force with amazing range and depth of analysis. The key findings are mostly expected:
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The vast majority (77%) of Chinese corporates surveyed expect one-third of all Chinese trade (circa USD 2trn) to be conducted in RMB by 2015 (vs 10% YTD) and 30% plan to use RMB for investment-related purposes in th
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RBS has brought together several of their existing FX and payment services into the new GlobalXChange service(GXC) which offers a single account solution for all payables and receivable regardless of currency:
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Western Union Business Solutions, a business unit of the Western Union Company, has introduced its business-to-business (B2B) service in three new markets - Chile, Cyprus and Jordan.
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DataCash Group Ltd, a MasterCard company, today announced the integration of Alipay, a leading third-party payment platform in China, to its international payment solution.
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The legally-binding SEPA (Single Euro Payments Area) implementation deadline of February 1, 2014 will have a huge impact and will require companies to undertake significant IT changes.
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Deutsche Bank's FX4Cash platform handles Outbound and Inbound payments.
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The October 2011 European Payments Council newsletter revealed that according to the European Central Bank analysis:
