PYMNTS

MARCH 26, 2019

Globalization and easing barriers to international expansion aren’t simply changing the way corporates manage foreign exchange exposure. Traditionally, however, multi-currency accounts are often opened within silos, unable to integrate and communicate with each other, or other cash management systems.

Foreign Exchange 69

Foreign Exchange Currencies Cash Management Profit and Loss 69

PYMNTS

SEPTEMBER 14, 2018

Foreign exchange solutions company OFX is expanding its services in the U.K. 13) that its Global Currency Account is now available to importers and exporters in the U.K. According to OFX, businesses buying and selling internationally would typically have to open bank accounts in multiple jurisdictions.

Accounting 40

Accounting Foreign Exchange Currencies eCommerce 40

PYMNTS

OCTOBER 4, 2019

million in the B2B eCommerce startup, MENAbytes reports said. Funds and accounts advised by T. With more than half a billion dollars in new funding, India-based B2B eCommerce startup Udaan takes the lead in this week’s B2B venture capital roundup. Clix Capital launched after acquiring assets from GE Capital, reports noted.

B2B 51

B2B eCommerce Startups Foreign Exchange 51

PYMNTS

DECEMBER 20, 2020

And because of that, the report says, the import supply chain can move onto standard open account terms, with Indian banks or international partners working on funding to make sure exporters are paid at shipment while importers pay later. PrimaDollar, which has already launched in the U.K. The market there is different than in the U.S.,

Foreign Exchange 64

Foreign Exchange B2B Manufacturing eCommerce 64

PYMNTS

NOVEMBER 16, 2020

Across Asia, an ongoing boom in global eCommerce volume, coupled with a convergence of market conditions, has made cross-border B2B trade a booming business — and a potentially lucrative one for small and medium-sized enterprises (SMEs). One of the biggest challenges in cross-border trade for any kind of business relates to foreign exchange.

Foreign Exchange 56

Foreign Exchange Currencies Manufacturing B2B 56

PYMNTS

JANUARY 30, 2019

GDC, for instance, started out with a solution set for know your customer (KYC) in an eCommerce use case where the company was conducting high-velocity ID verification. More detailed eCDD — especially for business accounts, trusts and high-net-worth (HNW) accounts — has become a focus for regulators, governments and agencies.

Foreign Exchange 74

Foreign Exchange Compliance Startups Currencies 74

PYMNTS

JUNE 4, 2019

Under the agreement, Visa’s customers and banking and FinTech partners will have the option to use Currencycloud’s cloud-based payments platform to provide in-demand services, including multi-currency wallets and real-time notifications on foreign exchange transactions.

Foreign Exchange 55

Foreign Exchange Currencies eCommerce Banking 55

PYMNTS

MAY 22, 2019

WeChat Pay is a unit of Tencent’s popular WeChat mobile messaging platform, while Alipay is operated by Ant Financial, an affiliate of Chinese eCommerce giant Alibaba. Any digital transaction made with unregistered foreign payment systems like WeChat Pay and Alipay is illegal,” Niroula told Reuters.

Foreign Exchange 63

Foreign Exchange eCommerce Banking Accounting 63

PYMNTS

JANUARY 9, 2018

UnionPay International is expanding its support for cross-border B2B payments through an integration with wholesale eCommerce market Yiwu Market, based in China. The eCommerce market exports to the Middle East, Europe, Central and South America and Africa. According to a press release issued on Monday (Jan.

B2B 47

B2B Marketing Foreign Exchange eCommerce 47

PYMNTS

OCTOBER 7, 2016

And bitcoin purveyors and exchangers are eyeing an emerging eCommerce market in India that might offer the right components for traction. India’s eCommerce leader, Amazon, is also vying for the top spot ahead of the Diwali shopping season. But on a more commercial note, Indians are expected to spend as much as $1.7

Currencies 99

Currencies Foreign Exchange eCommerce Banking 99

PYMNTS

DECEMBER 27, 2019

Mastercard: Holiday eCommerce Nearly 15 Pct Of Retail Sales. China is in the midst of planning the development of its blockchain cross-border pilot platform, according to Lu Lei, the deputy head of the State Administration of Foreign Exchange (SAFE). percent from last year. BNY Mellon On The Two Key Factors For AP Automation.

Sales 52

Sales Retail Accounts Payable Foreign Exchange 52

PYMNTS

OCTOBER 22, 2020

Companies are therefore reconsidering their accounts payable (AP) and accounts receivable (AR) strategies, including everything from how they place orders to how they pay for them. This could lead to more buyers to start using B2B eCommerce sites to secure items, and these marketplaces are expected to facilitate $3.6

Invoicing 63

Invoicing B2B Foreign Exchange Accounts Payable 63

PYMNTS

DECEMBER 31, 2020

Add in the current climate of heightened geopolitical uncertainty, trade disputes, foreign exchange volatility and regulatory complexities, and corporate treasurers have their work cut out for them, often with reduced budgets and slim staffing. The other is technological innovation. Purchases, events and trips are being canceled. “We

Healthcare 115

Healthcare B2B Foreign Exchange Treasury 115

PYMNTS

AUGUST 14, 2018

Its AxCore technology is being used in a variety of markets, including complex derivatives and high-volume foreign exchange. H&M Brings Visual Search To Upgraded eCommerce Site. The bank is now expanding this practice to all of its business and retail accounts.

Foreign Exchange 40

Foreign Exchange Numbers Banking Retail 40

PYMNTS

AUGUST 25, 2016

enables sellers to create a personalized account to receive cross-border payments into existing PayPal accounts. Separate reports said PayPal has cut foreign exchange commissions for SME exporters by 40 percent. Sellers can then send a personalized link to their clients to pay.

B2B 40

B2B Foreign Exchange Invoicing Accounting 40

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. It automatically processes “foreign exchange, settlement and money movement requirements for international eCommerce transactions,” the company said.

Foreign Exchange 61

Foreign Exchange Compliance Retail Currencies 61

PYMNTS

NOVEMBER 22, 2019

With a focus on integration with payment and accounting platforms, the startup said it will also continue to connect with a broader array of data sources to bolster small to medium-sized business (SMB) loan underwriting for its partners, which include banks and other lenders. The Access Group , a U.K.-based According to BusinessLeader.co.uk

Mergers and Acquisitions (M&A) 43

Mergers and Acquisitions (M&A) B2B Foreign Exchange Startups 43

PYMNTS

JUNE 9, 2017

According to a recent Hyperwallet study , one-third of eCommerce marketplaces operating out of the U.S. Because the cost is unpredictable and wires are expensive to send, marketplaces usually wait until a payee has reached a minimum credit on their account before the company will make the payment.

Foreign Exchange 46

Foreign Exchange B2C B2B Banking 46

PYMNTS

JANUARY 2, 2017

goods and services trade with China accounted for over $659 billion in value, according to the Office of the United States Trade Representative. strongly preferred digital channels for payment approvals, account information and foreign exchange transactions. and China has ballooned to over half a trillion dollars.

Foreign Exchange 42

Foreign Exchange B2B Compliance Accounting 42

PYMNTS

JUNE 15, 2017

An estimated 94 million online shoppers are expected to spend $1 trillion on cross-border eCommerce by 2020. 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

DECEMBER 11, 2017

Today, that fuels a $23 billion USD eCommerce market: roughly 8 percent of all retail spending. Amazon has long been recognized as a pioneer in the world of eCommerce usability,” said Simon Banks, Hyperwallet’s Asia Pacific managing director, in a press release.

Foreign Exchange 42

Foreign Exchange Currencies Problem Solving eCommerce 42

PYMNTS

MARCH 11, 2016

foreign exchange payments company FairFX scored nearly $7.5 It’s home to Nubox, a Software-as-a-Service company that provides businesses with cloud-based accounting, payroll and billing solutions. B2B eCommerce. This time, the U.S. failed to make an appearance. plus one surprising newcomer. . Commercial Cards.

B2B 40

B2B Startups Foreign Exchange Valuation 40

PYMNTS

JULY 8, 2016

“It can take days for the money to reach its destination, and the transfer and foreign exchange fees are excessive and often prohibitive to SMEs.” Quickli enables businesses to handle the “last mile” of logistics and delivery, especially as the B2B eCommerce industry balloons in the country.

B2B 40

B2B Startups Foreign Exchange Invoicing 40

PYMNTS

NOVEMBER 7, 2019

For consumers, many of these challenges include the need to support card transactions so users don’t have to manually calculate foreign exchange (FX) conversion rates. are often a preferred payment tool for both sender and receiver.

B2B 40

B2B B2C Foreign Exchange Invoicing 40

PYMNTS

FEBRUARY 22, 2018

More than a third (37 percent) told researchers they are on the hunt for more holistic advisory services from their providers, while more than two-thirds noted foreign exchange (FX) volatility is a top operational concern.

SAP 41

SAP Foreign Exchange B2B Technology 41

PYMNTS

AUGUST 30, 2019

Drilling down a bit into the 157 million calls, Bose noted that some of the most popular among treasurers are those tied to knowing where the money is, so to speak — account balance inquiries and payment status reports, for example. Asked by Webster about instant payments, he said such transactions may be relatively muted in the U.S.,

Treasury 40

Treasury Banking B2C Foreign Exchange 40

PYMNTS

FEBRUARY 8, 2018

In the eCommerce and gig economies, for example, individuals and small to medium-sized businesses (SMBs) frequently need to be paid soon after rendering their services. Digital wallet providers, which must quickly move money between wallets and bank accounts, also present a major potential use case. Even today, not all U.S.

Foreign Exchange 43

Foreign Exchange Banking Invoicing Compliance 43

PYMNTS

SEPTEMBER 19, 2019

As a result, treasurers must grapple with the notion (and the needs) of cash crossing accounts many times a day. The growth in eCommerce transcends all industry verticals. Batch processing, increasingly, is giving way to real-time payments and processing throughout the day. And now we are verging toward a fully real-time world.

Treasury 46

Treasury Cash Management Foreign Exchange Budgeting 46

PYMNTS

AUGUST 17, 2018

That said, unlike most manufacturers — and, apparently, most eCommerce operators, including Netflix — the seafood industry is not yet up to speed on hedging against currency fluctuation, he said. “A dollars into Canadian accounts — or vice versa — leaving those firms at the mercy of that day’s exchange rates. Hedging Laggards.

Risk Management 40

Risk Management Foreign Exchange Manufacturing Currencies 40

PYMNTS

JULY 2, 2018

” Accounts of South Koreans being spontaneously hoisted onto the shoulders of crowds of enraptured Mexicans also became common across the U.S. Tough week for Bank of America (BoA), which has been accused in a lawsuit of opening more than 100 accounts that it allegedly used to perpetrate a $102 million Ponzi scheme.

Foreign Exchange 41

Foreign Exchange Banking Reconciliations Accounting 41

PYMNTS

NOVEMBER 2, 2018

Ersek explained that Western Union is leveraging its money movement platform to handle the complex foreign exchange and settlement process that gives Amazon the ability to tap into consumer markets in the 200 countries that Western Union serves. But for about for about one-third o f the world’s adult population ( 1.7 percent per year.

B2B 49

B2B Foreign Exchange eCommerce Currencies 49

PYMNTS

NOVEMBER 27, 2018

In a new report , “A vision for the future of cross-border payments,” SWIFT and McKinsey & Company found that B2B cross-border transactions accounted for $125 billion in revenues last year. The next-highest category, consumer-to-business (C2B) cross-border payments, paled in comparison at just $54 billion.

Foreign Exchange 49

Foreign Exchange B2B Banking Compliance 49

PYMNTS

JUNE 19, 2020

It’s not a change easily accomplished, but thanks to eCommerce-as-a-Service solutions, launching an online webstore today is easier than ever. That’s not only because eCommerce opens up a potential buyer pool to customers outside of one’s home market, creating the need for companies to accept payment in different currencies.

Foreign Exchange 56

Foreign Exchange Currencies B2B Accounting 56

PYMNTS

JUNE 30, 2019

And also in June, one day before the Libra news broke, MoneyGram and Ripple struck a two-year strategic partnership to use Ripple’s xRapid product and leverage the XRP cryptocurrency for foreign exchange settlements in MoneyGram’s cross-border payments.

B2B 109

B2B Currencies Foreign Exchange Transportation 109

PYMNTS

JANUARY 23, 2020

is in savings accounts opened more than five years ago with an interest rate that is 0.82 percent lower than the newer accounts now offered. Revolut’s Metal accounts are offered for a monthly subscription of £12.99. Disposable virtual cards are also offered as another weapon to fight eCommerce card fraud.

Foreign Exchange 53

Foreign Exchange Startups eCommerce Accounting 53