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Mastercard, Interac Team On Canada Cross-Border Payments

PYMNTS

Mastercard and Interac, the global and domestic payment networks, announced Wednesday (May 22) they are collaborating to offer customers in Canada a fast and easy way to send money internationally. That will enable customers to send money from Canada to bank accounts in Europe.

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Paysend Launches Mobile Multi-Currency Wallet In Europe

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FinTech Paysend is introducing Global Account, its international, fee-free mobile money account with a multi-currency wallet, to European users, the company announced on Thursday (Feb. billion in fees when spending internationally and up to £996 million when shopping on overseas websites. In July , Paysend announced an £8.5

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Deep Dive: How Regulatory Compliance Tools Help Keep Remittances Flowing

PYMNTS

Remittances are a lifeline for many individuals around the world, with workers overseas in developed countries frequently sending money back home to support families in emerging economies. Digital KYC solutions may be one important piece of this puzzle for financial companies that offer international money transfer apps.

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Western Union: Emerging Market GDP, Innovation Depend On Remittances

PYMNTS

But for the recipients of the cross-border money transfers and peer-to-peer (P2P) payments usually associated with developing economies, they are lifelines. Person-to-person international transfers form by far the largest foreign economic support for developing economies. The Flows — And Where The Money Goes.

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KBank On Rethinking Bank-FinTech Relations

PYMNTS

Remittance payments might be on the rise in this region, but common pain points with cross-border money transfers have persisted, including a lack of transparency. The World Bank also noted that it is expensive to send money across borders, with the average fee for transferring $200 at 7 percent in Q1 2019.

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Tradeshift Taps Blockchain To Cut Cross-Border B2B Payment Costs

PYMNTS

In terms of timeline, Sylvest said he could “not set a date for going into production,” but the first quarter of 2020 would be used to “validate interest on the back end” among users of the platform. We send a lot of money to China, which is pretty opaque.

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Deep Dive: Emerging Response To B2B, P2P Cross-Border Payments Pain

PYMNTS

Money constantly flows across borders in the increasingly interconnected global economy, from workers overseas back to their families, and from buyers to their suppliers. Any complications cause major headaches, and international payments are often more involved and costly than those made domestically.

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