PYMNTS

DECEMBER 13, 2018

Foreign exchange (FX) volatility can be detrimental to businesses with heavy reliance on cross-border operations. “During the past quarter, exchange rates across the world have been in a state of fluctuation, partly due to trade issues — not just Brexit, but also the U.S. Trade tensions between the U.S.

Foreign Exchange 62

Foreign Exchange Currencies Profit and Loss Finance 62

PYMNTS

OCTOBER 16, 2020

Moving money from one currency to another sounds like it should be pretty straightforward, especially in an era where moving money is basically moving bits of information across the internet,” Lembo said in a recent interview with PYMNTS. “It Kicking Free Of Correspondent Banking. The money never actually crosses borders,” Lembo explained.

Foreign Exchange 85

Foreign Exchange Compliance Currencies Banking 85

Global Finance

JUNE 6, 2024

The project’s deployment required the collaborative efforts of several bank departments, including business, legal, compliance, engineering, security and IT, as well as outside technology vendors Metaco and Avaloq. It delivers payments directly to a worldwide workforce, without bank processing or currency conversion fees.

Construction 109

Construction Compliance Cash Management Treasury 109

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 40

Foreign Exchange Marketing Compliance Currencies 40

PYMNTS

NOVEMBER 13, 2020

Osome connects small and medium-sized businesses to a digital business assistant app to automate accounting, payroll and tax compliance workflows. Singapore-based Osome announced $3 million in new funding this week as an extension of its seed round, with XA Network and AltaIR Capital providing the latest investment, TechCrunch reported.

B2B 91

B2B Banking Foreign Exchange Startups 91

Future CFO

MAY 26, 2022

There will be intercompany transactions that happen between them, and it gets very complex when businesses are international – whether it's regulation or taxation, foreign exchange rates, or compliance. I sell services to you, what's the price, and then it (price) gets converted to the local currency plus tax and so on.

Mergers and Acquisitions (M&A) 98

Mergers and Acquisitions (M&A) Accounting Foreign Exchange Compliance 98

PYMNTS

JANUARY 30, 2019

Forex companies, in particular, move money as they change it from different currency types. Then the first money laundering directives came out, which started to mandate more and more in the realm of customer due diligence, so the company added a compliance check.

Foreign Exchange 74

Foreign Exchange Compliance Startups Currencies 74

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

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. That includes having the right payment choices in place, as gig workers want to be paid in their home currencies, McGuire noted. The Advantages.

Invoicing 61

Invoicing Accounts Payable Foreign Exchange Currencies 61

PYMNTS

MAY 12, 2017

And, to top that off, dealing with foreign exchange can add further complexity to a business’s workflow, Laven explained. When it comes to making cross-border B2B payments, dealing with foreign exchange rates is an issue that businesses around the world continue to struggle with on several fronts. Taking an API approach.

B2B 43

B2B Foreign Exchange Compliance Currencies 43

PYMNTS

SEPTEMBER 18, 2018

The tool will integrate Thomson Reuters’ World-Check and FXall solutions to provide Know Your Customer compliance and foreign exchange management features. .” The Receivables Board app will launch on Thomson Reuters’ Elkon platform, according to Thomson Reuters Head of Asia Customer Proposition Stuart Brown.

Finance 48

Finance SAP Foreign Exchange Compliance 48

PYMNTS

JANUARY 25, 2018

According to BELLIN, the collaboration with Kantox means it can combine its treasury management offering with Kantox’s services that provide companies with foreign currency, foreign exchange (FX) and risk management solutions. Together, the firms will target middle-market businesses looking to grow internationally.

Treasury 40

Treasury Foreign Exchange Risk Management Compliance 40

PYMNTS

NOVEMBER 21, 2016

Payment regulations, prepaid card regulations, controlled currencies,” Monty began. Monty explained that not all banks are able to offer foreign exchange services in Brazil — they may need to get a foreign exchange license and must also be able to provide the subtleties of service that are demanded in that country.

Foreign Exchange 74

Foreign Exchange Currencies Banking Compliance 74

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

Global Finance

OCTOBER 31, 2024

Offerings include corporate accounts, cross-border yuan settlement, litigation services, and foreign exchange trading. Some 46,000 CCB ATMs now allow cash withdrawals with foreign credit cards, and the bank has implemented coin-specific cash services for taxis and other public transportation providers.

Mergers and Acquisitions (M&A) 52

Mergers and Acquisitions (M&A) Manufacturing Risk Management Construction 52

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

SEPTEMBER 13, 2018

As FinTechs step into the cross-border payments and foreign exchange (FX) management space, there are more solutions available than ever before for corporates seeking to gain speed and security in payments – and manage risk along the way. Adopting real-time business processes has led them to embrace real-time FX management.

Foreign Exchange 40

Foreign Exchange Risk Management Currencies B2B 40

PYMNTS

JANUARY 29, 2018

Consider the fact that payment that originates in one country does so in the “home” currency but gets settled in another currency once received. Along the way, there are foreign exchange fees, documents to manage and sundry regulations to navigate. Money that crosses borders usually has an arduous trek.

Foreign Exchange 53

Foreign Exchange Problem Solving Currencies Compliance 53

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. It’s an error-prone process, the report added, with banks still handling the cost of compliance, payment processing and FX. “For Cost-Saving Opportunities .

Currencies 46

Currencies Treasury Foreign Exchange Compliance 46

PYMNTS

APRIL 22, 2016

But technology is changing the foreign exchange trading game, and market volatility may be the only sure thing in this space. People have to move currency, have to change currency, so forex transacting is changing very quickly because of globalization.”. That’s according to Beeks Financial Cloud CEO Gordon McArthur.

Marketing 40

Marketing Foreign Exchange Treasury Currencies 40

PYMNTS

OCTOBER 6, 2017

Payslip’s solution to the problem is to provide a platform through which all payroll vendors and data can be aggregated, integrating with treasury systems, providing a more simplistic view of payroll (in a single currency), ensuring regulatory compliance across borders and safeguarding the data.

Marketing 55

Marketing Treasury Foreign Exchange Currencies 55

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

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

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

JANUARY 14, 2019

The FinTech that sets its sights on Africa must grapple with the vagaries of 54 markets, 54 central banks, disparate tax and legal policies, and changing foreign exchange ( FX ) rates. There exists a lack of infrastructure across roads, power sources or even telecom networks, he said.

eCommerce 85

eCommerce Foreign Exchange Accounting Banking 85

PYMNTS

SEPTEMBER 13, 2017

The company has also established the first secure and trusted compliance, vetting, KYC (Know Your Customer) and regulatory approval process for 75,000 China-based sellers (and growing) so that global marketplaces can have access to this massive eCommerce engine without operational, logistical, technological, payment or ERP fears.

Foreign Exchange 40

Foreign Exchange Compliance eCommerce Manufacturing 40

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

AUGUST 22, 2016

. “We’ve found that they’re not sure how to structure their payroll or how to pay an employee, in what currency, things like that,” he said. “We find they’re not paying or moving money in the proper currency or not even doing payroll properly.”

Foreign Exchange 41

Foreign Exchange Currencies Accounting Planning 41

PYMNTS

SEPTEMBER 8, 2016

When those parents in China send their $60,000 to MIT via Flywire’s platform, Frere explained, they are given a real-time rate based on current foreign exchange rates between their home country and where the money is being sent. Being Prepared For What’s Next. “For us, it’s a competitive advantage,” Frere said.

Foreign Exchange 43

Foreign Exchange Currencies Valuation Accounting 43

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. PM: As a CEO, just as important as the time you devote to business strategy, is the time spent on compliance and risk management. Our chairman, Dr. B.

Risk Management 54

Risk Management Foreign Exchange Investments Technology 54

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

Global Finance

JULY 26, 2024

Modern treasuries face a diverse array of demands, such as real-time payments, high inflation and interest rates, and new compliance and sustainable finance obligations. Another factor impacting the delivery of treasury and cash management solutions is the rapidly changing regulatory environment,” adds Monaco.

Cash Management 52

Cash Management Treasury Compliance Banking 52

PYMNTS

FEBRUARY 26, 2016

But, for SMERGERS, this meant implementing a way for investors and sellers to conduct their business in their own local currencies. Being a technology platform, the first step before going global was to integrate different currencies across the world and exchange rates on our platform,” Devanath explained. The Endgame.

Foreign Exchange 52

Foreign Exchange Valuation Currencies Sales 52

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