PYMNTS

DECEMBER 8, 2017

In a press release , Payment Rails said its white label platform supports business payments sent to more than 220 countries in more than 135 currencies. Artificial intelligence ensures regulatory compliance and fraud protection.

Foreign Exchange 78

Foreign Exchange Treasury B2B Compliance 78

PYMNTS

MAY 12, 2017

The cross-border B2B payments market, on the other hand, is fraught with friction, despite being much larger in size — accounting for nearly 80 percent of global cross-border payment revenue, according to a 2016 report by McKinsey & Company. To keep up, businesses need to focus on three pillars of compliance, Laven said.

B2B 43

B2B Foreign Exchange Compliance Currencies 43

PYMNTS

MARCH 2, 2016

To achieve this, Ripple is placing its bets on XRP, a digital currency that the firm argues will be instrumental as a bridge asset to facilitate interbank transactions. While this can be a solution to some of the costs associated with cross-border payments, Ripple noted that many FIs cannot afford to maintain these accounts.

Currencies 46

Currencies Treasury Foreign Exchange Compliance 46

PYMNTS

APRIL 3, 2019

Senders have 12 hours to settle their accounts at a Dollar General store, he said, adding that 99 percent of consumers do so within that time limit, which is governed by compliance issues. The Western Union service works in conjunction with Amazon’s cross-border payment option, Amazon PayCode. Digital Expansion.

Foreign Exchange 61

Foreign Exchange Compliance Retail Currencies 61

PYMNTS

JANUARY 14, 2019

There’s also a technology boom, which comes as the continent, in Nazir’s words, “leapfrogged over the landline and over the computer, and straight to the smartphone and, now, into mobile money over bank accounts. Those members of the formal economy, said Nazir, “are not comfortable going into a branch, and they do not have bank accounts.

eCommerce 85

eCommerce Foreign Exchange Accounting Banking 85

PYMNTS

DECEMBER 11, 2017

But the promise of product choice for Amazon is only possible if the suppliers interested in selling their products to those Australian consumers have an easy way to get paid by Amazon – in the currency of their choosing and in a transparent and efficient way. Be the regulatory and compliance safety net.

Foreign Exchange 42

Foreign Exchange Currencies Problem Solving eCommerce 42

PYMNTS

OCTOBER 22, 2019

They frequently face delays and rack up fees as they pass through multiple FIs, and parties making these payments often wrestle with currency conversions and value fluctuations. Ripple reportedly completed payments in about two minutes on average and enabled FIs in the trial to avoid 40 percent to 70 percent of foreign exchange costs.

B2B 41

B2B Foreign Exchange Accounts Payable Banking 41

PYMNTS

AUGUST 10, 2017

Karen Webster: Let’s get acquainted with UAE Exchange and some of the great work you’re doing in the global remittance, foreign exchange and payments space. The business has evolved into a device agnostic, any-to-any platform offering transfers in cash, real-time bank account credits, and eWallet transactions.

Risk Management 54

Risk Management Foreign Exchange Investments Technology 54

PYMNTS

OCTOBER 16, 2020

Consumers send funds by tapping or swiping payment cards, clicking a few buttons on banking websites or payment apps, or keying details into online checkout pages, which payees receive via bank accounts or digital wallets. Kicking Free Of Correspondent Banking. If I wanted to send money from Australia back to my parents in the U.S.,

Foreign Exchange 85

Foreign Exchange Compliance Currencies Banking 85

PYMNTS

SEPTEMBER 18, 2018

Together, they will launch a new marketplace app, dubbed the Receivables Board, to support primary and secondary trading of accounts receivable by institutional investors and corporate treasurers, enabling businesses to access trade finance.

Finance 48

Finance SAP Foreign Exchange Compliance 48

PYMNTS

MAY 31, 2016

Foreign exchange rates. Earlier this month, GoldMoney , a FinTech that operates a financial services and payments platform that uses gold to settle transactions globally in any currency, launched its Gold Payroll and Gold Payout applications. As a global currency in and of itself, gold has universal acceptance.

B2B 47

B2B Foreign Exchange Currencies Compliance 47

Future CFO

JANUARY 12, 2021

Working capital and cash flow optimisation With uncertain times ahead, CFOs today must monitor the impact of price volatility, foreign exchange fluctuations, and interest rate changes, and be able to rapidly revise financial asset positions and protect against increased credit risks.

Foreign Exchange 40

Foreign Exchange CFO Compliance Reconciliations 40

PYMNTS

MARCH 1, 2018

Of course, language and currency can be a struggle. Mac acknowledged a “learning curve” when entering into such an ecosystem of differing rules, language barriers and foreign exchange demands — the latter of which can also significantly complicate the expense management process.

Transportation 40

Transportation Foreign Exchange Currencies Reconciliations 40

PYMNTS

AUGUST 22, 2016

Typically, Lobo explained to PYMNTS, companies are asked to open local bank accounts in the markets in which their employees work. “They have to initiate a wire or money transfer from a bank account to each local account, and that’s a lot of manual transacting going on,” he said. ” The U.S.

Foreign Exchange 41

Foreign Exchange Currencies Accounting Planning 41

PYMNTS

SEPTEMBER 8, 2016

Times thousands of payments a day that find their way into the institution’s bank account. Off to the bank they go, and $60,000 is sent to the MIT account specified. Only $56,734 gets deposited into MIT’s account, with a truncated name that is unintelligible to the MIT accounting department.

Foreign Exchange 43

Foreign Exchange Currencies Valuation Accounting 43

PYMNTS

JUNE 15, 2017

Western Union’s RESTful API enables users to send up to 10,000 payments in multiple currencies using a single API call and offers users real-time payment tracking to keep tabs on the status of their transactions. The Western Union API sits on top of a global network of bank accounts, which are monitored by a compliance engine.

B2B 70

B2B Foreign Exchange Compliance Leverage 70

PYMNTS

MARCH 11, 2016

When hosts welcome international travelers to Brazil for the Olympics and book on Airbnb or HomeAway, Rao explained, they will be charged foreign exchange rates, transaction costs (along with international fees), and additional deductions such as in-country costs – “which is typically a part of the transaction, which nobody sees,” he said.

Foreign Exchange 40

Foreign Exchange Compliance Currencies Banking 40

PYMNTS

NOVEMBER 19, 2018

Even for companies in markets with robust correspondent banking operations, high and hidden bank fees , foreign exchange volatility, and a lack of speed and visibility into the status of a transaction have all opened up opportunities for FinTechs in the cross-border business payments market to address these points of friction.

Foreign Exchange 74

Foreign Exchange Currencies Banking Invoicing 74