PYMNTS

FEBRUARY 8, 2017

China’s foreign exchange reserves have slipped below the $3 trillion mark, as measured in January. The new numbers show continued momentum to “move money out” even as the central bank seeks to “contain asset bubbles without triggering a liquidity crunch” with capital seeking investments outside the country, said the WSJ.

Foreign Exchange

PYMNTS

OCTOBER 23, 2018

Bank of America Merrill Lynch (BofA Merrill) is introducing a new solution for other financial institutions (FIs) in the interbank payment system to automate foreign exchange (FX) conversion. The solution is supported across 89 countries and can make conversion in 41 currencies, the bank noted.

Foreign Exchange

PYMNTS

SEPTEMBER 6, 2016

s share of the foreign exchange market has dropped, while the Bank for International Settlements (BIS) reported that Asia, particularly Hong Kong, Tokyo and Singapore, are picking up the pieces. Here are the numbers: $2.4 s share of the global currencies trading market, according to FT — down from 41 percent in 2013.

Foreign Exchange

PYMNTS

MAY 19, 2020

BlockFi said it was “able to confirm that no funds, passwords, social security numbers, tax identification numbers, passports, licenses, bank account information, nor similar non-public identification information was exposed as a result of this incident.”.

Foreign Exchange

Future CFO

APRIL 10, 2022

Digital money will be the future, said PwC recently when releasing its 2022 PwC Central Bank Digital Currency (CBDC) Global Index. It’s estimated that more than 80% of central banks are considering launching a central bank digital currency,” the company noted in a statement.

Foreign Exchange

PYMNTS

AUGUST 7, 2020

One of the largest points of friction that shoppers grapple with today is the ever-fluctuating exchange rate of foreign currencies they use when purchasing from sellers across borders.

Foreign Exchange

Simply Treasury

JUNE 3, 2021

Finally, in this top tier, the management of financial risks, including currency risk, which can be explained by the increased volatility of the markets. Contrary to the recent excitement for Bitcoins, crypto currencies do not seem to be a priority for treasurers. API’s have shown the use banks and corporates can make out of them.

Cash Flow Forecasting

PYMNTS

MARCH 26, 2019

Globalization and easing barriers to international expansion aren’t simply changing the way corporates manage foreign exchange exposure. This is especially true for SMEs who cannot run the risk of losing 30 percent of revenue on a currency depreciation.”. A recent controversy at American Express highlighted that risk for SMBs.

Foreign Exchange

PYMNTS

AUGUST 11, 2020

A woman in Australia will go to jail for the theft of more than 100,000 Ripple digital currency tokens over two years ago, ACS Information Age reported. The 25-year-old individual gained access to the digital currency account belonging to a man in his 50s. The crypto was then converted to bitcoin and moved into a number of locations.

Foreign Exchange

Global Finance

OCTOBER 11, 2024

trillion in extended credit and new capital for its consumer and institutional clients while moving $10 trillion in over 120 currencies daily. Industry leadership, advancements in digitalization and corporate citizenship also factored in. Throughout 2023, JPMorgan Chase raised $2.3

Banking

PYMNTS

MAY 19, 2020

BlockFi said it was “able to confirm that no funds, passwords, social security numbers, tax identification numbers, passports, licenses, bank account information, nor similar non-public identification information was exposed as a result of this incident.”.

Foreign Exchange

PYMNTS

SEPTEMBER 18, 2019

Open banking has opened the path toward a number of banking/FinTech and digital partnerships leveraging APIs to speed innovations. The company said that the API-led platform will let partners — including banks, retailers, credit unions and others — access payment and foreign exchange services through a single place.

Foreign Exchange

PYMNTS

JULY 15, 2020

.” The other option is to obtain a multi-currency bank account, but again, Nader noted, for smaller companies this is rarely available from their banking providers. The Competitive Differentiator. Doing so can help bolster SMB cash flows at a time when financial resiliency is critical.

Foreign Exchange

PYMNTS

MARCH 23, 2020

Communication channels have expanded to facilitate discussions between businesses’ in-house teams and their growing numbers of remote or freelance workers, but payments has not kept up the same pace. This trend is even more pronounced in Asia, where that number is 82 percent. dollar or the British pound.

Foreign Exchange

PYMNTS

SEPTEMBER 18, 2020

Online platforms have done much to transform payments — especially in terms of transparency, speed and distribution — across any number of verticals from ride-hailing to food delivery. Or accountants did not do much accounting.

Foreign Exchange

PYMNTS

NOVEMBER 23, 2016

As the music business becomes increasingly international, there are a tremendous number of globally dispersed contributors that have difficulty receiving their hard-earned royalties. Traditionally, payees have been subjected to high foreign exchange fees and lengthy delays, said Hyperwallet.

Foreign Exchange

PYMNTS

DECEMBER 26, 2018

Last month, two men were executed for allegedly smuggling foreign currency and illegally altering the gold-coin market. Hundreds of foreign-exchange dealers have also been arrested for black-market currency operations. Iran executed more than 500 people last year, according to numbers by Amnesty International.

Economics

PYMNTS

JANUARY 31, 2018

In one of the bigger back-and-forth stories in digital currency, South Korea has announced that it is definitely for real this time sure that it does not plan to ban crypto-currency exchanges. Illegal foreign currency trading of 472.3 Annual overseas transfers of more than $50,000 must also be reported.

Foreign Exchange

Global Finance

JUNE 4, 2024

The latest such episode started in 2019 with the ongoing debt crisis, followed by a currency collapse and, in 2022, the fall of the scandal-ridden government of Rajapaksa. In September, Fitch Ratings upgraded Sri Lanka’s long-term local-currency issuer default rating to CCC- from Restricted Default. Each time, it has bounced back.

Economics

CFO News Room

JANUARY 25, 2023

Equity and fixed-income markets plunged, commodity prices skyrocketed, and between the dollar’s rise and other currencies tanking, foreign exchange markets experienced generationally high levels of coincident volatility. It began with a massive conventional war in southern Europe, which led to rising global tensions.

Economics

PYMNTS

DECEMBER 15, 2020

Businesses can use a recipient's accounting number or email address to initiate a payment, while transaction data is enhanced to support the reconciliation process. Head of Global Strategy and Payments for Global Transaction Services David Kretz said the solution aims to "remove friction and bring transparency to cross-border payments.".

Foreign Exchange

CFO News Room

FEBRUARY 2, 2022

Going forward, the network of participants and the number of use cases could continue to see rapid growth, giving cryptocurrencies in this category plenty of further upside. In 2021, there were a number of digital asset company IPOs, led by Coinbase , the largest listing (IPO, SPAC, or otherwise) of any digital asset company in history.

Concentration

PYMNTS

SEPTEMBER 26, 2016

Those potentials and threats, however, expand beyond foreign exchange challenges. A 29% decline in foreign currency purchase value by U.K. Larger corporates landed increases in both the number of foreign currency purchases made in July, as well as an increase in the value of those purchases, suggesting larger U.K.

Foreign Exchange

PYMNTS

JANUARY 8, 2018

Jobs numbers were off to a rocky start for the year when new data from the U.S. Department of Labor revealed lower-than-expected jobs numbers for the month of December. But when it comes to small business (SMB) hiring, the numbers don’t always present a clear picture. 67 percent of U.K. firms with 300 employees or fewer.

Foreign Exchange

PYMNTS

MARCH 6, 2017

An article in a publication owned by the regulator called for a more open, competitive domestic foreign exchange (FX) market that enables a flexible FX rate mechanism to mitigate against cross-border capital fluctuation, according to reports. Deputy head of the State Administration of Foreign Exchange Fang Shangpu penned the article.

Foreign Exchange

PYMNTS

DECEMBER 4, 2019

This week, the firm announced a collaboration with Ebury to integrate foreign exchange (FX) and cross-border payment services into its product suite. Some businesses just accept forward currency exchange risk without knowing that it could be covered at low cost,” he said. The Right Service Combination.

Foreign Exchange

PYMNTS

NOVEMBER 16, 2018

The FinTech targets friction and costs associated with foreign exchange (FX) conversion fees and volatility that corporates experience when making payments to their vendors across borders. With the new funding, iBanFirst said it plans to provide support for more currencies and introduce new features for its solution.

Accounts Payable

PYMNTS

MARCH 21, 2018

The company announced news on Tuesday (March 20) that its Global Collections tool is now live to support the acceptance of payments in multiple currencies. Companies can generate an international bank account number (IBAN) as well as a virtual account number (VAN) to support transfers in U.S. dollars or euros. dollars or euros.

Foreign Exchange

PYMNTS

MARCH 10, 2020

It was our key priority to launch this feature as quickly as we could, as it was the number one most-requested feature from our customers in Australia,” Jack Zhang, co-founder and chief executive officer at Airwallex, told The Australian. An integration with Xero is one of the most requested integrations from our customers,” Zhang added.

Reconciliations

PYMNTS

DECEMBER 6, 2018

Nawaz Ali, senior currency strategist at Western Union , told PYMNTS in a written exchange that “SMBs could be exposed to significant sterling fluctuation. There’s at least some anticipation that foreign exchange (FX) remains a wild card that needs attention. and GBP/EUR could rise [toward] €1.15 [$1.30 USD] or higher.”.

Currencies

PYMNTS

JULY 29, 2019

Geopolitical volatility has analysts urging businesses to hedge against foreign exchange risks as trade tensions rise in Asia and the U.S., Given today’s market conditions, currency volatility will only continue. Below, PYMNTS looks at the numbers behind the latest analysis on corporates’ FX risks and related losses.

Foreign Exchange

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

PYMNTS

AUGUST 21, 2020

Users come to these offerings to learn or teach, and no one wants to get a surprise lesson in foreign exchange (FX) rates. Tapping payment partners that can deliver payouts in local currencies is key because then instructors do not have to weather FX risks or wait for their banks to handle conversions. “As

Education

PYMNTS

JUNE 27, 2016

But apart from the poll results, the numbers flooding out of news stories on the Brexit paint a picture of confusion, uncertainty and debate. A 500 percent increase in currency transfers by U.K. dollar marked the steepest decline for the currency in more than three decades, analysts said. Multinational corporations fear the U.K.

Foreign Exchange

PYMNTS

APRIL 5, 2016

These profits are coming from the 3–5 percent foreign exchange fees that banks can charge for conducting a cross-border transfer, often through the costs that get tacked on as a payment moves between corresponding banks. Once the numbers are tallied, India’s economic growth rate is slated to hit 7.3 To India, And Beyond .

Banking

PYMNTS

SEPTEMBER 11, 2018

A company doesn’t have to be a massive, multinational corporation to feel the punch of foreign exchange (FX) volatility. Those uncertainties, however, can increase foreign exchange rate volatility, according to Volopa ‘s Managing Director Graham Smith and Director of Business Development Jay Wissema.

Foreign Exchange

PYMNTS

FEBRUARY 5, 2020

For the companies that pay these workers, sometimes globally and across currencies, managing accounts payable (AP) processes is quickly becoming a complex endeavor. At a high-level view, that changes the number of levers that can be pulled — from a finance perspective — around the working capital associated with AP. The Advantages.

Invoicing