Latest news with #crossborder
CNA
43 minutes ago
- Politics
- CNA
Thailand and Cambodia reaffirm truce commitment at China-facilitated talks in Shanghai
Thailand and Cambodia have reaffirmed their commitment to Jul 28's truce, following reports of sporadic cross-border skirmishes. Officials from both sides were in Shanghai for informal consultations, brokered by China. Beijing pledged to play a constructive role to promote a peaceful solution between the Southeast Asian neighbours. Leong Wai Kit and Saksith Saiyasombut report.
Zawya
a day ago
- Business
- Zawya
MoneyGram and Bank AlJazira partner to expand cross-border money movement in Saudi Arabia
RIYADH, Kingdom of Saudi Arabia: MoneyGram, a leading global payments network for consumers, businesses and communities, today announced resuming money transfer services with Bank AlJazira, a leading bank in Saudi Arabia. This partnership expands access to physical and digital cross-border money movement solutions across the Kingdom, supporting Saudi Arabia's Vision 2030 and its goal of building an inclusive, digitally empowered economy. Now, Bank AlJazira's customers can send money to over 200 countries and territories via the bank's digital channels or at FAWRI Retail locations where they can also receive money across the Kingdom, providing convenience for Saudi nationals, residents and visitors. Powered by MoneyGram's global payments network and world-class APIs, customers benefit from a range of transfer methods, including bank accounts, mobile wallet and cash pick up. This announcement of receive service supports millions of visitors who travel to Saudi Arabia year-round for Hajj and Umrah pilgrims, business or tourism. This highlights MoneyGram's strategic focus on enabling inbound remittance services into the Kingdom and serving a broad range of customers from around the world. 'Over the past decade, MoneyGram has partnered with the Kingdom's leading fintechs, mobile wallets and banks to deliver a broad range of cross-border solutions,' said Ahmed Aly, Head of Middle East, South Asia & Asia Pacific at MoneyGram. 'Today, we're proud of our partnership with Bank AlJazira – a trusted brand with strong technological capabilities – to advance our mission of connecting the world by making the movement of money across borders seamless, affordable and reliable for everyone.' Recipients of funds sent from Saudi Arabia will benefit from flexible payout options – whether picking up cash at one of MoneyGram's 480,000+ global retail locations or receiving funds across five billion digital endpoints 'This collaboration delivers greater value to our customers by offering faster and more reliable international money transfer services. It strengthens our commitment to providing seamless and reliable financial solutions, ensuring we meet the evolving needs of our customers, both locally and globally,' said Fahad AlMuteri, Head of Digital Banking at Bank AlJazira. Remittances from Saudi Arabia rose to $4.13B in March 2024, marking a 29.61% year-on-year increase and the highest monthly level recorded in nearly nine years 1. Approximately 42% of the Kingdom's population are immigrants, many of whom have relocated for economic opportunities. These expatriates primarily send money to key remittance corridors, such as India, Indonesia, Pakistan, Bangladesh, Egypt and Yemen. -END- About MoneyGram MoneyGram connects the world by making the movement of money across borders seamless, affordable and secure for everyone. Each year, the company serves more than 50 million people in over 200 countries and territories. Headquartered in Dallas, Texas, with offices in 36 countries, MoneyGram is globally recognized for its high-performance culture and has been honored as a Top Workplaces USA award winner for four consecutive years. MoneyGram Media Contact media@ About Bank AlJazira Bank AlJazira (BAJ) is recognized as one of the leading Shariah compliant fast growing financial institutions in Saudi Arabia, client-driven and service-oriented Saudi Financial Group which provides individuals, businesses and institutions with innovative Shariah compliant financial services through professional and dedicated staff. 1 Arab News 'Saudi Arabia's expat remittances hit near 9-year high at $4.13bn in March'
Finextra
2 days ago
- Business
- Finextra
CaixBank turns on instant cross-border mobile transfers
The European Payments Alliance (EuroPA) has hit a milestone in its efforts to bring instant cross-border payments to the continent with customers of Spain's CaixBank now able to send money to people in Portugal, Italy and Andorra via the Bizum mobile transfer scheme. 0 CaixaBank and imagin customers can now send and receive money to these countries without using the recipient's phone number, without needing bank cards or knowing the account number. EuroPA enables interoperability between Italy's Bancomat, Spanish scheme Bizum and Portugal's MB WAY, connecting more than 50 million users and 186 financial institutions from Italy, Portugal, Spain and Andorra. The scope of the alliance is expected to grow, with Poland and the Nordic countries slated to join in the coming months. Much like the European Payments Initiative, EuroPA is striving to provide a euro-owned payment system capable of wresting control away from US card brands. In June, the two schemes said they would investigate a joint offering that would combine their efforts to cover all use cases - person-to-person and commercial payments both online and in-store - across the markets of the participating services.
Finextra
2 days ago
- Business
- Finextra
PayPal unveils 'Pay with Crypto' feature
PayPal is launching a service that enables businesses to accept payments in more than 100 cryptocurrencies. 0 Open to all US merchants, Pay with Crypto will let customers pay with the likes of bitcoin and ethereum and stablecoins including USDC, as well as use wallets such as Coinbase and MetaMask. Payments in crypto automatically convert to fiat or stablecoin. The company says the service, arriving within weeks, will simplify cross-border commerce for merchants and help slash transaction fees by up to 90% compared to credit cards. Alex Chriss, CEO, PayPal, says: "Imagine a shopper in Guatemala buying a special gift from a merchant in Oklahoma City. Using PayPal's open platform, the business can accept crypto for payments, increase their profit margins, pay lower transaction fees, get near instant access to proceeds, and grow funds stored as PYUSD at 4% when held on PayPal."
Bloomberg
2 days ago
- Business
- Bloomberg
FIS Partners With Circle to Offer Bank Stablecoin Payments
Bank technology provider Fidelity National Information Services Inc. is partnering with Circle Internet Group Inc. to offer financial institutions the ability to conduct transactions using Circle's stablecoin. The companies aim to help US banks offer their customers the option to make domestic and cross-border payments using USDC, a cryptocurrency intended to track the value of a dollar one-for-one that's backed by short-term US Treasuries and cash. FIS is integrating the token into its money movement hub, a service designed to help financial institutions connect with multiple payment networks. The service is expected to go live before the end of the year.
