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Helping Entrepreneurs Reimagine A Borderless Economy

PYMNTS

While the digital age has opened up doors for businesses to expand internationally, it’s a bit misleading to say that it’s easier than ever for small firms to step foot into new geographic markets. Neat aims to ease this friction by offering SMBs an alternative to the traditional bank account. ”

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German Central Bank Head Warns About Crypto Use

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The head of Germany’s central bank warned about stablecoins, which are cryptocurrencies tied to traditional currencies, according to a report by Reuters. Jens Weidmann said that if the new currency becomes widely used, it could undermine banks. This might disrupt transaction banking and financial market intermediation.”.

Banking 59
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How Mexico’s Central Bank Plans To Move Payments To Digital

PYMNTS

If the high-level concept is that merchants will accept and banks will issue, in terms of mechanics, the CoDi platform lets users with savings accounts at participating financial institutions to make wire transfers through their phones by scanning merchants’ QR codes or wielding devices at on-site NFC terminals.

Banking 145
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Fed Chairman Concerned Over Shrinking Bank Market

PYMNTS

The average merger review time at the Office of the Comptroller of the Currency (OCC) declined between 2016 and 2018, too, reports in The Wall Street Journal said. That may be good news for banks, but some policymakers are concerned that industry consolidation is reducing access to financial services in rural areas.

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New Report: Banking-As-A-Service Takes Friction Out Of Remittances

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Many consumers move to new countries to pursue economic opportunities, but adjusting to these locations also requires learning the ins and outs of new financial systems — a transition that can be filled with friction. How Rayo Delivers Immigrant-Focused Financial Services. customers to recipients in Asia and Europe.

Banking 86
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Mersch: ECB Will Focus On ‘Game Changer’ Retail CBDC

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Speaking at a virtual conference about the future of money, European Central Bank (ECB) executive board member Yves Mersch said a retail central bank digital currency (CBDC) is a game-changer. “A Some 76 percent of all transactions in the euro area are in cash, accounting for over 50 percent of the total value of all payments.

Retail 52
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NEW REPORT: How X-Border Receivables Save Rhinos

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By some accounts, the value of cross-border B2B payments could reach $3.68 Before businesses can spread their global wings and reach new markets, though, they must first overcome their fears of engaging in global trade. and European markets. and European markets. By some estimates, the market could be worth $57.2