News Topic: Cross border payments

Visa Inc. braved a stronger U.S. dollar and a decline in consumer confidence even as its customers’ spending overseas continued to slow during the first three months of the year. ... Read full article

The agreement with U.S. and U.K. regulators is on top of the $667 million it paid to U.S. authorities in 2012 for its handling of transactions that violated economic sanctions against Iran. ... Read full article

They haven't thrown in the towel yet, but comments by top executives at the two big banks suggested that their interest in finding financial services uses for distributed ledgers is wearing very thin. ... Read full article

Digital payment innovators have shown an almost limitless propensity to home in on banks’ turf, and Citigroup is ready to strike back. ... Read full article

Billions of dollars in investments are pouring into digital payments, but the hefty numbers obscure a regulatory and competitive squeeze that could shut banks out of the profits for good. ... Read full article

Citigroup Inc. is jumping into the battle over the $90 billion in swipe fees that merchants pay each year to process debit and credit cards. ... Read full article

The tech company has taken World Wire, its blockchain-based cross-border payments network, live in 72 countries. ... Read full article

The slow U.S. adoption of real-time payments hurts half of Americans who live paycheck to paycheck, says Aaron Klein, a fellow at the Brookings Institution. ... Read full article

JPMorgan's blockchain effort could lead to solutions that overcome industry skepticism and regulatory concerns and perhaps attract more mainstream retail interest. ... Read full article

JPMorgan is prototyping its own digital currency to be used for cross-border payments and, later, other purposes. Will banks find this a palatable alternative to today's most well-known options? ... Read full article

JPM Coin is not meant for consumer payments, but rather is a specific technology for a specific use case that the bank controls. Its value comes not from JPM Coin's appeal, but from JPMorgan's titanic wholesale payments business. ... Read full article

Swift is showing more swagger in its rivalry with Ripple thanks to progress it has made with a multifaceted payments-tracking technology called GPI. ... Read full article

The deal between the U.S. bank and the U.K. software firm adds another potential payments rival for Swift, and the two companies will offer banking APIs to U.S. fintechs. ... Read full article

Ripple Labs Inc., the blockchain startup whose digital money is often used as a proxy for other cryptocurrency payments, is gaining new customers because financial firms are seeking faster, more up-to-date technology than the Swift banking network, Chief ... Read full article

The payments and financial services industry has enjoyed an unprecedented wave of invention, but the fruits of that labor are threatened by an ideologically driven political climate that complicates the evolution of global interoperable mobile-driven ... Read full article

American Express Co. said the U.S. Department of Justice and several regulators have sought information on its foreign-exchange international payments business. ... Read full article

At this year’s Swift Business Forum in New York, executives said banks can build "more intelligent routing" to speed up payments and reduce the cost of processing and delivery. ... Read full article

The payments company released a platform made up of nine B2B networks and powered by Microsoft’s Azure. ... Read full article