Singapore and Australia agree to enhance financial services data connectivity
The two countries have signed a suite of MoUs designed to help both capitalise on the digital economy.
International Payments
Background
Although, for most companies, cross-border/cross-currency payments make up less than 5% of all payments, they can represent a major proportion of payment costs when the FX conversion costs (which make up the bulk of the income for the banks / service providers), the transaction charges and float costs…
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BlueSnap upgrades marketplace payment solution
The solution lets B2B and B2C firms launch ecommerce marketplaces that include seamless payouts and cross-border payment processing.
RMB cracks top 5 currency ranking for global payments volume
SWIFT's latest RMB Tracker statistics show the continued global growth of the Chinese currency.
CTMcast - 19 March 2020: Review of key recent posts and more on Coronavirus crisis
Jack and Ben reviewed last week’s stories and the current COVID-19 crisis
i2c enables Airwallex B2B payments card
The i2c platform uses AI to optimise cross-border, multi-currency payments.
SWIFT ISO 20022 adoption for cross-border payments pushed back
The original lead migration deadline of November 2021 has been delayed until the end of 2022.
SAP and Goldman Sachs target global payments innovation on Ariba Network
The pair aim to make it simpler and less costly for buyers to pay foreign suppliers in local currencies.
CTMcast - 5 March 2020: Review of key recent posts and Coronavirus crisis
Jack and Ben reviewed last week's stories and the Coronavirus crisis with Kyriba's Bob Stark
SWIFT gpi traffic up to US$77 trillion in 2019
Nearly two-thirds of all payments traffic on SWIFT is now sent via gpi.
Greenwich leaders in both European and Asian large corporate banking and cash management announced
Challenges for European companies creates opportunities for corporate banks, while commoditisation shifts the Asian landscape.
Golden insights from ACT’s cash management conference
Problems to come from: lack of capacity in corporate treasury departments and no single API standards setter??
Vroozi and Stratas to automate purchasing and accounts payable in the UK and Ireland
The strategic partnership aims to equip mid-market organisations to grow profitably through automation.
SWIFT to host open API hackathon in Africa
The hackathon is open to developers working in the financial sector across Africa to identify new solutions for cross-border payments.
What is next for Swift’s booming global payments innovation service?
Extending global coverage, new international instant payments functionality and stop/recall service
Airwallex and Visa debut ‘borderless’ business card
#BusinessCard #B2BPayments #VirtualCards @airwallex @VisaNews
RAKBANK and Mastercard launch suite of corporate payment solutions
The product suite includes a corporate purchase card, corporate executive T&E card and B2B virtual card.
Real-time cross-border payments tracking a reality with Standard Chartered
SC GPI Track, a portal to trace all cross-border payments, arrives ahead of November's SWIFT payments confirmation mandate.
Visa and TransferWise expand access to cross-border payments
TransferWise to implement Visa Direct for international money transfers in Europe.
International digital money transfer transactions to reach 2 billion by 2024
The prediction would see volumes almost double in the next five years.
MAS, J.P. Morgan and Temasek develop blockchain-based prototype for multi-currency payments
The payments network will provide interfaces for other blockchain networks to connect and integrate.
Firms confident despite trade tensions, HSBC survey finds
Nearly half of companies are more optimistic than they were in 2018, despite uncertainty over US-China trade relations and Brexit.
EBA calls on the European Commission to facilitate the scaling up of cross-border payments services
The EBA report identifies potential impediments to the cross-border provision of banking and payment services in the EU.
Flywire provides Bank of America clients enhanced access to cross-border payments and receipts
Flywire’s offering streamlines cross-border transactions for the bank’s higher education and corporate franchise.
Swift gpi ‘Request-to-pay’ will bring global benefits
Proof of concept development by banks and corporates in Swift gpi roadmap shows huge potential, but how long will it take to deliver?