Companies

MoneyGram Introduces Digital Receive Capabilities in Jamaica through Partnership with Lynk, the Largest Mobile Wallet in the Country

PR Newswire

“MoneyGram International, Inc., a leading global financial technology company that connects the world’s communities, today announced a partnership with Lynk, the mobile wallet powered by National Commercial Bank Financial Group (NCBFG), the largest financial group in Jamaica. Through this partnership, Lynk’s fast-growing user base now has the ability to receive cross-border payments directly to their smartphones. MoneyGram is the […]

Tags: MoneyGram

Companies

Trust Bridges and Money Flows: A Digital Marketplace to Improve Cross-Border Payments (IMF)

IMF

“Cross-border payments are expensive, slow, and opaque. These problems reflect multiple frictions, many of which boil down to limited trust among counterparties. Trust plays a central role in exchanging credit-based money. End users need to trust the issuers of money, and issuers must trust users to satisfy financial integrity requirements. Transactions are possible only where […]

Tags: International Monetary Fund

Industry

Project Icebreaker Concludes Experiment for a New Architecture for Cross-Border Retail CBDCs

BIS

“The Bank for International Settlements (BIS) and the central banks of Israel, Norway and Sweden have concluded Project Icebreaker, which studied the potential benefits and challenges of using retail central bank digital currencies (CBDC) in international payments.  A collaboration between the BIS Innovation Hub Nordic Centre, Bank of Israel, Norges Bank, and Sveriges Riksbank, the […]

Companies

Modern Treasury Announces Global ACH Capabilities to Provide Customers with Access to Lower Cost Cross-Border Payments

SVB

“Modern Treasury, the operating system for the new era of payments, and Silicon Valley Bank, today announced the availability of a new global payment solution, which will allow mutual clients to send cross-border payments more efficiently, predictably, and at a lower cost by leveraging local payment rails. Global ACH will provide mutual customers with more choices for […]

Tags: Modern Treasury Silicon Valley Bank

Companies

Western Union and 7-Eleven México Announce Strategic Alliance to Send and Receive Money Cross-Border

Businesswire

“Western Union, a leader in cross-border, cross-currency money movement and payments, and 7-Eleven Mexico, the world’s largest convenience store chain, today announced a strategic alliance to help facilitate cross-border money transfer capabilities in Mexico.1”

Tags: Western Union

Standards

ISO 20022 Harmonisation Requirements for Enhancing Cross-Border Payments

BIS

“With most of the world’s payment systems adopting the ISO 20022 messaging standard by 2025, the coming years will be crucial for converging on its harmonised use to fully leverage its full potential to make cross-border payments faster, cheaper and more transparent. ISO 20022 is a global and open standard for exchanging financial information.”

Tags: ISO 20022

PaymentsPost

PaymentsPost #1 | Glenbrook’s February Roundup

There are a lot of headlines in the payments world. PaymentsNews is Glenbrook’s curated news feed of the headlines that matter most every day, but we’ll readily acknowledge that it can be a lot to digest. That’s why we’re introducing PaymentsPost, a month-end roundup of the news items that got us talking as a team […]

Tags: fis

ACH Data NACHA

Episode 192 - The Rising Value of Rich Account Data with George Throckmorton, Nacha

The Payments Network that Moves Data, Not Money

Take a listen to Yvette Bohanan and George Peabody as they speak with George Throckmorton, Senior Director at Nacha and the head of Nacha’s Phixius data network initiative.

Payments networks are remarkable constructions. They bring competitors together around a common set of rules and capabilities that then move millions of transactions a day and untold billions in value. That’s the network effect.

Companies Global

LexisNexis Risk Solutions True Impact of Failed Payments Report Reveals 70% of Corporations and Financial Institutions are Frustrated with Their Payment Failure Rate

PR Newswire

“LexisNexis® Risk Solutions today released the results of its True Impact of Failed Payments Report, a snapshot of cross-border payments performance on a global scale. The report assesses insights collected from 400 payment executives representing leading corporations and financial institutions across the APAC, EMEA, LATAM and North America regions.  More than 70% of respondents are […]

Global

India Ties Up with Singapore for its First Real-Time Overseas Payments Link

Reuters

“India and Singapore launched on Tuesday a real-time link to facilitate easier cross-border money transfers between the two countries, the first such for the South Asian nation that is the world’s biggest recipient of remittances. Transfers of funds between the two countries will now be possible using just mobile phones due to the tie-up between […]

Companies

PPRO Extends Global Cross-Border Payments Infrastructure into South Korea

TechNode Global

United Kingdom-based FinTech firm PPRO has extended its infrastructure to the South Korean market through integrating South Korean local cards and Toss Pay, one of the most popular e-wallets in South Korea onto its platform. PPRO said in statement on Thursday that Toss is South Korea’s leading financial service platform, operated by Viva Republica, that reaches […]

Global

India, Singapore to Officially Link Payment Systems Next Week

TechInAsia

The Monetary Authority of Singapore and the Reserve Bank of India will be linking their real-time payment systems next week to enhance cross-border payment connectivity between the two countries. Singapore’s PayNow linkage with India’s United Payments Interface (UPI) will go live on February 21, according to a press statement.

Financial Inclusion Global Payments Mobile Wallets

Episode 191 - Fanning the Flames: A Year in Travel - Jordan

We’ve reached our final destination on Glenbrook’s 2022 tour of local payment methods around the world. Joanna Wisniecka joins Yvette Bohanan on this episode of Fanning the Flames to chat about her recent trip to Jordan.

Joanna walks us through her experience opening an account and and making payments with ZainCash, and also provides insights into JoPACC (Jordan Payments & Clearing Company) initiatives throughout the country.

Industry

JPMorgan Sees Promise in ‘Deposit Tokens’ Issued by Banks

Yahoo

A potential new form of digital money — deposit tokens issued by banks on blockchain — may become more widely used than stablecoins, a JPMorgan Chase & Co. study found. Commercial banks can play a key role in digital money by issuing the tokens, according to the study co-published with consulting firm Oliver Wyman. The […]

Global

Nium Expands Payments Platform with 'Zero-Deduction' Wire Transfers for Payroll and Procurement

PR Newswire

Nium, the global platform for on-demand money movement, today announced zero-deduction wire transfers, additional currency support for global payouts, and real-time transaction tracking through SWIFT gpi. The move benefits financial institutions, payroll, and procurement firms seeking lower costs, broader reach, greater transparency, and faster settlement of cross-border wire transfers. Nium’s enhanced offering includes…