“The Bank for International Settlements and the Monetary Authority of Singapore have published a blueprint for the multilateral linking of domestic real-time payement systems across borders. The blueprint builds on the bilateral linkage between Singapore’s PayNow and Thailand’s PromptPay, launched in April 2021, and benefits from the experience of the National Payments Corporation of India’s (NPCI) development and operation of the Unified Payments Interface (UPI) system.”

“Ripple , the leading provider of enterprise blockchain and cryptocurrency solutions for global payments, announced today the launch of RippleNet’s first live On-Demand Liquidity (ODL) service implementation in Japan, in collaboration with SBI Remit Co., Ltd, the largest money transfer provider in Japan, and one of the leading mobile wallet services in the Philippines, Coins.ph .”

“Global financial settlement network EMQ today announced that it has significantly augmented its real-time cross-border payments across Southeast Asia by adding Thailand’s PromptPay to the network. This major enhancement further expands our global payment capabilities into Thailand, providing global enterprises with the most comprehensive financial solutions to capture new opportunities across the markets.”

“Online cross-border payment technology is opening new markets for e-commerce firms and new shopping options for consumers — but the European Union’s tax system hasn’t kept pace, creating compliance headaches for U.S. digital merchants and confusing bills for customers on the Continent. In an attempt to fix that problem, the European Commission has simplified its value-added-tax (VAT) regulations governing online sellers and cross-border payments. VAT, which is assessed in Europe and other countries, is the equivalent of a sales tax but is structured differently. U.S. sales taxes are levied at the point of sale as a percentage of the overall purchase, while VAT is based on calculations that determine the increase in value of a good or service at different stages of production or distribution.”

“SWIFT today announced the go-live of a service that will enable banks to verify payee account details before an international payment is sent, removing a key point of friction in cross-border transactions. The new Payment Pre-validation service is a core building block in SWIFT’s strategy to drive instant and frictionless transactions worldwide. Most cross-border payments are processed without issue, but one of the leading causes for those that fail or lose time is incorrect beneficiary information – from misspelled names to transposed account numbers. And because they are detected late in the process, these issues can be among the most time-consuming and costly to resolve.”

“Multi-award-winning payments processor, Global Processing Services (GPS), today announces that it has joined forces with Currencycloud, the experts simplifying business in a multi-currency world, to widen access to cross-border payments for financial institutions and Fintechs, providing a passport to a post-COVID world. The pandemic has accelerated the digitalisation of payments and the move away from cash. People are naturally operating more globally, whether that’s for personal or business travel, to accommodate multiple bases as the world shifts to a more hybrid model of working or growing eCommerce and global supply chains. As a result, financial institutions and Fintechs need to offer customers solutions that satisfy this changing dynamic as people shift to digital-first behaviours for safety and convenience.”

“Cambridge Global Payments (“Cambridge”), a FLEETCOR company (NYSE: FLT) and a provider of integrated cross-border payments and currency risk management solutions, and Steamchain Corp. (“Steamchain”), a technology platform focused on helping to reduce the cost of currency conversion, currency fluctuation risk and cumbersome document flow, are pleased to announce they have partnered to bring a tailored solution to help companies in the global shipping and logistics industries, simplify sending and receiving payments with their global partners.”

“Vodafone Ghana’s mobile financial services, Vodafone Cash, has partnered with global cross-border payments company WorldRemit to enable its customers to receive international money transfers straight to their mobile money accounts without any charges.   The service allows Vodafone Cash customers to seamlessly receive international money transfers from their family and friends in the UK, Canada, Australia, the USA, and others.”

“TransferMate Global Payments, the world’s leading provider of payments infrastructure as a service, today announced a new collaboration to introduce its simple cross-border payment experience to sellers and buyers of Alibaba.com, a leading ecommerce platform for global wholesale trade. Customers of Alibaba.com can use TransferMate’s award-winning platform to receive and make payments, benefitting from preferential FX rates, quick transaction times and no wire transfer fees. TransferMate customers will also be able to access global markets when selling on Alibaba.com, broadening their reach to a wider international customer base.”

“Airwallex , a leading global fintech platform, and Visa, the world’s leading digital payment technology company, today introduced the Airwallex Borderless Card (a good funds card) for businesses in Hong Kong. Starting today, Airwallex customers in Hong Kong will be able to instantly generate and issue multi-currency virtual payment cards that can be used to promptly pay third parties, such as vendors and online subscriptions. With the ability to transact in more than 140 currencies and make payments to merchants globally where Visa is accepted, the Airwallex Borderless Card will enable a more secure, transparent and fast way for businesses to make digital payments across borders.”

“Ria Money Transfer, a global leader in the cross-border money transfer industry and subsidiary of Euronet Worldwide, Inc. (NASDAQ: EEFT), today announced the extension of its distribution network through a strategic collaboration with Mooney, one of Italy’s foremost proximity banking and payments companies. This partnership enables Ria to deliver its key principles of convenience, simplicity and value for money to Mooney’s nationwide coverage in Italy of approximately 45,000 points of sale and 20 million customers who make more than 200 million transactions per year.”

“As the first bank in the Sultanate of Oman to join our global payments network, RippleNet , BankDhofar will connect with leading Indian private sector bank IndusInd Bank to drive real-time payments into India. This partnership will enable cross-border transactions made via the BankDhofar Mobile Banking App to be processed instantly, reliably, cost-effectively and with end-to-end visibility anywhere in the world. This first-of-its-kind service in Oman is more important now than ever before as India continues to be the top remittance receiving country in the world . BankDhofar customers will be able to transfer up to OMR 1,000 (~approx $2,600), to deposit accounts in India instantly through BankDhofar’s Mobile Banking App.”

“ThetaRay, a leading provider of AI-based Big Data analytics, today launched SONAR, the industry’s most advanced financial crime prevention solution for cross-border payments. By providing full visibility across complex, cross-border transaction paths, the SaaS solution enables banks, financial institutions and businesses to increase their volume of transfers without the risk of being exploited for money laundering, terrorist financing, human trafficking, and narco-trafficking. This announcement follows on the heels of ThetaRay’s recent $31M funding round.”

“Airwallex , a digital payments fintech, announced on Thursday the launch of its online card payment acceptance solution in Hong Kong. According to Airwallex, the solution will allow local merchants to accept online card payments made around the world using Visa and Mastercard. According to Airwallex, c-commerce sales in Hong Kong are forecasted to register a growth of 11.1% this year and are expected to continue with this uptrend beyond the pandemic, driven by increasing demand for payment options that can provide improved security, greater efficiency, and more customized solutions.”

“Temenos (SIX: TEMN), the banking software company, today announced that Wise (formerly TransferWise), the global technology company on a mission to make money work without borders, is now live on Temenos MarketPlace . The addition of Wise Platform, Wise’s infrastructural solution for banks, enables Temenos customers, which include more than 3,000 banks and financial institutions worldwide, to quickly and easily switch on Wise’ trusted cross-border payments within their digital banking platform. Temenos customers will have seamless access to Wise’ technology through Temenos Infinity digital banking platform and Temenos Transact next-generation core banking product. The Wise solution is pre-integrated for rapid implementation and time-to-value.”

“HSBC USA today announces the launch of a multi-currency digital wallet that enables businesses to make international payments simply and securely. HSBC Global Wallet is the first multi-currency offering by a U.S. bank that removes the need to use third-party providers for foreign exchange and international transactions. HSBC clients in the United States can send money in a number of currencies, and hold and manage those currencies. HSBC Global Wallet uses the bank’s global payments network and is fully integrated with the bank’s existing business banking platform, enabling customers to “pay like a local.””