“Rapyd , a global Fintech as a Service provider, announced today the launch of Rapyd Protect, a fraud solution designed to protect businesses and consumers against fraud across countries and payment methods. With the growing use of Alternative Payment Methods (APMs) globally, Rapyd Protect provides a smart defense against global fraud while empowering merchants to confidently offer customers their preferred payment method.”

“HSBC is taking on the likes of Transferwise and Revolut with the launch of Global Money Account, a free mobile-based service that customers can use to hold, manage and send funds in various currencies to HSBC customers in over 20 markets around the clock in real-time without incurring any fees. Global Money Account is launching in the US first, and will be rolled out to other markets in 2021. Customers can get instant access in just five clicks via their existing banking app.”

“TransferGo’s partnership with Visa will enable its services to scale around the globe. Currently available in 32 European markets, the collaboration has the potential to expand into 178 countries. Utilising the Visa Direct service, customers will gain the speed and security of its infrastructure while conducting international payments. Users will not need to use online banking or an IBAN number; payments can be sent directly to a card.”

“Oracle Banking Payments is supporting SWIFT’s latest service to make global cross-border payments fast, easy, predictable, and frictionless for small and medium enterprises (SME) and consumer markets.”

“Today, during SIBOS 2020, Wells Fargo announced the launch of Payment Tracker, a new, single status, secure, web-based solution for tracking global payments…Payment Tracker is a free tool that leverages Wells Fargo’s leading role and membership in the SWIFT gpi initiative.”

“SWIFT announces today plans for a new service to help banks improve the experience for small and medium-sized enterprises (SMEs) and consumers who send low-value payments across borders. The service will enable these bank customers to make faster, easier, predictable and competitively priced payments all around the world.”

“TransferWise Ltd. said annual profit more than doubled as it attracted millions of new customers with an expansion of its money-transfer business around the world. Pretax profit for the year ended March 31 rose to 20.4 million pounds ($26 million) from 10.1 million pounds a year earlier, the London-based startup said in an annual report. A surge in cross-border transactions drove a 70% increase in revenue to 302.6 million pounds, Chief Financial Officer Matt Briers said. About 26% of revenue came from the U.S., up from 25% from a year ago.”

“Flywire , a vertical payments company, is partnering with Mastercard to provide students with discounted foreign exchange rates on cross-border tuition payments made with Mastercard. The offer is available during the 2020 Fall term to international students originating from UAE, Saudi Arabia, Qatar, Kuwait, Kenya and Ghana attending any school around the world that offers Flywire as a preferred payment method for international tuition. Students will be able to make their international tuition payments in their local currencies using Mastercard credit or debit cards as the lowest cost card payment option with Flywire.”

“Payoneer , the digital payment platform empowering businesses around the world to grow globally, announced today Payoneer for Banks, a new program which helps financial institutions provide businesses of all sizes with a seamless way to make or receive cross-border payments. The program already includes partnerships with ten banks and eWallets in ten countries, with many more in the works. Payoneer for Banks shares the fintech’s global capabilities with traditional financial institutions and eWallets via simple API integrations.”

“Whether sending money to a family member in another country or obtaining same-day access to earnings, fast and secure digital payments have become an essential part of how the world pays and gets paid in the wake of COVID-19. Visa Inc. (NYSE:V) and PayPal (NASDAQ: PYPL) today shared details about an extension of their global partnership, which will expand real-time access to funds for consumers and small businesses that are sending or receiving money via PayPal, Venmo or Xoom. This collaboration expands PayPal’s Instant Transfer service, which leverages Visa Direct for real-time payment capabilities, to global markets and enables fast domestic and cross-border digital payments.”

“Thunes, a leading cross-border payments network, today announced an 80% increase in transaction volumes for the second quarter of 2020. Thunes also noted that there was a clear shift towards mobile wallets rather than cash transactions, with overall mobile wallet transaction volumes having more than doubled.”