Latest news with #crossborderpayments
Finextra
2 days ago
- Business
- Finextra
Neema launches Dynamic Routing
Neema, a pioneering global cross-border payments network catering to financial institutions, launched today Dynamic Routing, an innovative technology designed to enhance every transaction by maximizing both success rates and cost efficiency. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Neema's extensive cross-border payments network empowers financial institutions across the globe to effortlessly process transactions in over 120 countries. It accommodates the most widely used payment methods and currencies specific to each destination, ensuring that users experience a localized payment environment. The introduction of Dynamic Routing further extends Neema's vision of building a globally connected financial ecosystem. Traditionally, the majority of cross-border transactions between banks have been facilitated through the SWIFT network, a system that has linked financial institutions since the 1970s. Despite its extensive use, the foundational protocol is now outdated, resulting in transactions that are often costly, sluggish, and susceptible to errors. Transfers frequently take several days to finalize, with many experiencing delays or even being lost in transit. When funds are transferred between banks in different nations, the SWIFT network relies on a series of correspondent (intermediary) banks to execute the transfer. This creates a singular route from sender to recipient, typically involving one or more intermediary banks. Consequently, this leads to elevated fees, protracted settlement times, and a significant lack of transparency throughout the transaction process. Dynamic Routing, along with Neema's vast network of financial partners, enables a smarter method for global money movement. Rather than depending on a single pathway, Dynamic Routing establishes multiple real-time routes between countries. Each transaction it powers undergoes instant analysis, taking into account factors such as exchange rates, speed, and reliability to identify the optimal route. Every payment is personalized, with transfers between the same countries often utilizing different, optimized routes. Additionally, Neema's AI-driven security infrastructure and expansive international reach provide enhanced visibility into coverage and technical vulnerabilities, allowing the company to effectively address potential gaps while offering one of the most robust quality assurance systems in the industry. 'At Neema, our primary mission is to address the genuine challenges that businesses encounter when transferring funds across international borders,' said Moshe Kimhi, CEO of Neema. 'The introduction of Dynamic Routing represents a significant advancement in this realm — enhancing the speed, cost-effectiveness, and reliability of international payments. This innovation is instrumental in empowering businesses to expand and function more efficiently within the complexities of the global economy.'
Finextra
2 days ago
- Business
- Finextra
PingPong picks up new licences in the UAE and Malaysia
PingPong, the leading provider of embedded cross-border payment solutions for enterprises, financial institutions, and SaaS companies, expands its global payments platform into the UAE and Malaysia, following licence approvals from local central banks. 0 These new licences add to PingPong's already significant portfolio of over 60 global licences. PingPong's platform delivers faster, more transparent, and higher-quality cross-border B2B transactions through direct connectivity to the EU's SEPA and the UK's Faster Payments Service (FPS), alongside global SWIFT messaging integration. PingPong's onboarding suite of automated KYC and AI-enhanced tools accelerates enterprise customer deployment while reducing friction and compliance risk. These innovations enhance the reliability of PingPong's global platform and support growth for enterprise financial institutions and software solutions. Strengthening PingPong's Extensive Global Presence with UAE and Malaysia Licences PingPong's global platform continues to expand its geographic presence by securing central bank licences from the UAE and Malaysia. These approvals add to PingPong's portfolio of over 60 global licences, strengthening access to key Asian and Middle Eastern markets for enterprises using PingPong's platform. In recognition of PingPong's commitment to robust compliance practices, it has become the first mainland Chinese-headquartered company to obtain in-principle approval from the Central Bank of the UAE (CBUAE). The licence granted by the Central Bank of Malaysia, Bank Negara Malaysia (BNM), further expands PingPong's extensive presence in Southeast Asia, following its recent expansion into Indonesia and existing presence in Vietnam, Thailand, Singapore, and the Philippines. "These licences show how PingPong's platform is rapidly expanding, delivering on its roadmap to build comprehensive global coverage through our global portfolio of regulatory licences. The Middle East is fast becoming one of the most strategic corridors for international trade, and Southeast Asia continues to be a digital and economic growth powerhouse," said Aaron Xu, Partner at PingPong. "Our goal is to strengthen access to every major trade corridor for enterprise businesses, supporting them with a platform that acts as a strategic bridge between the world's fastest-growing economies." Re-Engineering Cross-Border B2B Payments for the Realities of Global Trade Due to fragmented banking infrastructure and reliance on legacy correspondent networks, B2B transactions suffered from regulatory complexity, outdated infrastructure, and significant compliance requirements. Cross-border payments could take days to reach the recipient and cost 10 times[1] more than a domestic payment. Demand is shifting rapidly toward near-instant global solutions, driven by rising trade flows from West to East and the need for embedded regulatory interoperability. PingPong's platform roadmap addresses these challenges through direct connectivity to key domestic schemes, including SEPA and FPS in the UK, and via global SWIFT messaging integration. Direct integration with domestic payment schemes is becoming a global priority as countries look to modernise their financial infrastructure and promote competition. For enterprises on PingPong's platform, direct access enables faster and more transparent payments by removing reliance on intermediary banks. It also allows for richer data transmission, improved system interoperability, and greater control over transaction flows. From a compliance perspective, direct access facilitates better risk management and closer alignment with local regulatory frameworks. Equally critical to enabling enterprises to scale is onboarding, historically a significant bottleneck for financial institutions and software platforms due to complex KYC requirements, lengthy compliance checks, and inconsistent documentation standards across markets. PingPong's platform has integrated AI-driven onboarding tools, enabling enterprise customers to deploy faster while maintaining rigorous compliance standards. This automation reduces time-to-activation for new clients and strengthens PingPong's platform with real-time risk checks, dynamic monitoring, and consistent policy enforcement across jurisdictions. As the volume and complexity of global payments continue to rise, these capabilities enable PingPong's platform to support large-scale enterprise growth while keeping the network secure, efficient, and regulator-aligned. "Enterprise payments need to be fast, trusted, transparent, and fully aligned with local regulation," said David Messenger, CEO of Global Businesses at PingPong. "Our platform connects directly to payment schemes such as SEPA, enabling faster, more reliable cross-border flows. Our automated and AI-powered onboarding / KYC reduces risk and friction, helping enterprise clients confidently scale across global markets."
Zawya
2 days ago
- Business
- Zawya
XTransfer to Debut as a 4-Star Sponsor at Money20/20 Europe 2025
AMSTERDAM, NETHERLANDS - Media OutReach Newswire - 29 May 2025 - XTransfer, the world's leading and China's No.1 B2B cross-border trade payment platform, is excited to announce its debut participation in Money20/20 Europe 2025 as a 4-star sponsor. The prestigious fintech event will take place from June 3 to 5, 2025, in Amsterdam, bringing together global visionaries, innovators, and decision-makers from across the financial technology ecosystem. XTransfer's presence at Money20/20 Europe marks a significant milestone in its global expansion journey. As a first-time sponsor, the company will lead a series of high-impact sessions and strategic engagements, showcasing its cutting-edge solutions and vision for inclusive cross-border finance. The event will feature a keynote product pitch by Bill Deng, Founder and CEO of XTransfer, who will introduce the company's latest cross-border payment innovations tailored for Small and Medium-sized Enterprises (SMEs) in emerging markets. In addition, multiple signing ceremonies will be held to formalise new global partnerships, reinforcing XTransfer's commitment to enabling seamless international trade. XTransfer will also host a Fireside Chat featuring leaders from top global banks to discuss how technology, collaboration, and compliance are unlocking new opportunities in the cross-border payment industry on 4th June, 11:30 AM at XTransfer's booth. Further strengthening its strategic position in Europe, XTransfer recently obtained the Electronic Money Institution (EMI) license in the Netherlands. This significant achievement enables XTransfer to offer comprehensive, compliant, and localised payment solutions to SMEs in the Netherlands. The license forms a critical part of XTransfer's vision to build a global financial network that empowers SMEs to grow and trade internationally with ease. During the event, Bill Deng will also meet with government officials and executives from international banks and financial institutions to explore opportunities for deeper cooperation and innovation in the cross-border financial infrastructure landscape. "We are honoured to join Money20/20 Europe for the first time as a 4-star sponsor," said Bill Deng, Founder and CEO of XTransfer. "This is a milestone moment for XTransfer as we continue expanding our global footprint. We look forward to sharing our vision, engaging with industry leaders, and exploring new partnerships that will advance the future of the global trading and payment industry." Money20/20 Europe is widely recognised as the premier destination for the global fintech community. XTransfer's participation marks a bold step forward in its mission to provide secure, efficient, and affordable cross-border financial services to SMEs around the world. Visit XTransfer at Booth 1G10 to learn how we are transforming the future of cross-border B2B payments. Hashtag: #XTransfer #Money2020EU #Crossborder #Payment #SMEs The issuer is solely responsible for the content of this announcement. XTransfer
Malay Mail
2 days ago
- Business
- Malay Mail
XTransfer to Debut as a 4-Star Sponsor at Money20/20 Europe 2025
XTransfer to Debut as a 4-Star Sponsor at Money20/20 Europe 2025 AMSTERDAM, NETHERLANDS - Media OutReach Newswire - 29 May 2025 - XTransfer, the world's leading and China's No.1 B2B cross-border trade payment platform, is excited to announce its debut participation in Money20/20 Europe 2025 as a 4-star sponsor. The prestigious fintech event will take place from June 3 to 5, 2025, in Amsterdam, bringing together global visionaries, innovators, and decision-makers from across the financial technology presence at Money20/20 Europe marks a significant milestone in its global expansion journey. As a first-time sponsor, the company will lead a series of high-impact sessions and strategic engagements, showcasing its cutting-edge solutions and vision for inclusive cross-border event will feature a keynote product pitch by Bill Deng, Founder and CEO of XTransfer, who will introduce the company's latest cross-border payment innovations tailored for Small and Medium-sized Enterprises (SMEs) in emerging markets. In addition, multiple signing ceremonies will be held to formalise new global partnerships, reinforcing XTransfer's commitment to enabling seamless international will also host a Fireside Chat featuring leaders from top global banks to discuss how technology, collaboration, and compliance are unlocking new opportunities in the cross-border payment industry on 4th June, 11:30 AM at XTransfer's strengthening its strategic position in Europe, XTransfer recently obtained the Electronic Money Institution (EMI) license in the Netherlands. This significant achievement enables XTransfer to offer comprehensive, compliant, and localised payment solutions to SMEs in the Netherlands. The license forms a critical part of XTransfer's vision to build a global financial network that empowers SMEs to grow and trade internationally with the event, Bill Deng will also meet with government officials and executives from international banks and financial institutions to explore opportunities for deeper cooperation and innovation in the cross-border financial infrastructure landscape."We are honoured to join Money20/20 Europe for the first time as a 4-star sponsor," said Bill Deng, Founder and CEO of XTransfer. "This is a milestone moment for XTransfer as we continue expanding our global footprint. We look forward to sharing our vision, engaging with industry leaders, and exploring new partnerships that will advance the future of the global trading and payment industry."Money20/20 Europe is widely recognised as the premier destination for the global fintech community. XTransfer's participation marks a bold step forward in its mission to provide secure, efficient, and affordable cross-border financial services to SMEs around the XTransfer at Booth 1G10 to learn how we are transforming the future of cross-border B2B #XTransfer #Money2020EU #Crossborder #Payment #SMEs The issuer is solely responsible for the content of this announcement.
Yahoo
2 days ago
- Business
- Yahoo
PingPong Expands B2B Cross-Border Payments Platform for Enterprises with New Licences in the Middle East and Southeast Asia, Direct Scheme Connections in Europe, and AI Integrations
New licence approvals in the UAE and Malaysia expand PingPong's already significant portfolio of over 60 licences worldwide, reinforcing its presence across Asia and the Middle East. With direct access to SEPA, FPS, and SWIFT, PingPong's platform enables faster, more transparent cross-border payments for enterprise clients. AI-powered onboarding and automated KYC accelerate enterprise deployment and strengthen network-wide resilience. PingPong's global portfolio of over 60 licences now includes Malaysia and UAE approvals, strengthening enterprise access to key Asian and Middle Eastern markets. PingPong's direct connections to payment schemes such as SEPA and FPS, alongside global SWIFT messaging integration, provide enterprises with faster, more transparent, and higher-quality cross-border payments. PingPong's AI-powered onboarding tools accelerate enterprise customer deployment while enhancing network reliability. LONDON and NEW YORK, May 29, 2025 /PRNewswire/ -- PingPong, the leading provider of embedded cross-border payment solutions for enterprises, financial institutions, and SaaS companies, expands its global payments platform into the UAE and Malaysia, following licence approvals from local central banks. These new licences add to PingPong's already significant portfolio of over 60 global licences. PingPong's platform delivers faster, more transparent, and higher-quality cross-border B2B transactions through direct connectivity to the EU's SEPA and the UK's Faster Payments Service (FPS), alongside global SWIFT messaging integration. PingPong's onboarding suite of automated KYC and AI-enhanced tools accelerates enterprise customer deployment while reducing friction and compliance risk. These innovations enhance the reliability of PingPong's global platform and support growth for enterprise financial institutions and software solutions. Strengthening PingPong's Extensive Global Presence with UAE and Malaysia Licences PingPong's global platform continues to expand its geographic presence by securing central bank licences from the UAE and Malaysia. These approvals add to PingPong's portfolio of over 60 global licences, strengthening access to key Asian and Middle Eastern markets for enterprises using PingPong's platform. In recognition of PingPong's commitment to robust compliance practices, it has become the first mainland Chinese-headquartered company to obtain in-principle approval from the Central Bank of the UAE (CBUAE). The licence granted by the Central Bank of Malaysia, Bank Negara Malaysia (BNM), further expands PingPong's extensive presence in Southeast Asia, following its recent expansion into Indonesia and existing presence in Vietnam, Thailand, Singapore, and the Philippines. "These licences show how PingPong's platform is rapidly expanding, delivering on its roadmap to build comprehensive global coverage through our global portfolio of regulatory licences. The Middle East is fast becoming one of the most strategic corridors for international trade, and Southeast Asia continues to be a digital and economic growth powerhouse," said Aaron Xu, Partner at PingPong. "Our goal is to strengthen access to every major trade corridor for enterprise businesses, supporting them with a platform that acts as a strategic bridge between the world's fastest-growing economies." Re-Engineering Cross-Border B2B Payments for the Realities of Global Trade Due to fragmented banking infrastructure and reliance on legacy correspondent networks, B2B transactions suffered from regulatory complexity, outdated infrastructure, and significant compliance requirements. Cross-border payments could take days to reach the recipient and cost 10 times[1] more than a domestic payment. Demand is shifting rapidly toward near-instant global solutions, driven by rising trade flows from West to East and the need for embedded regulatory interoperability. PingPong's platform roadmap addresses these challenges through direct connectivity to key domestic schemes, including SEPA and FPS in the UK, and via global SWIFT messaging integration. Direct integration with domestic payment schemes is becoming a global priority as countries look to modernise their financial infrastructure and promote competition. For enterprises on PingPong's platform, direct access enables faster and more transparent payments by removing reliance on intermediary banks. It also allows for richer data transmission, improved system interoperability, and greater control over transaction flows. From a compliance perspective, direct access facilitates better risk management and closer alignment with local regulatory frameworks. Equally critical to enabling enterprises to scale is onboarding, historically a significant bottleneck for financial institutions and software platforms due to complex KYC requirements, lengthy compliance checks, and inconsistent documentation standards across markets. PingPong's platform has integrated AI-driven onboarding tools, enabling enterprise customers to deploy faster while maintaining rigorous compliance standards. This automation reduces time-to-activation for new clients and strengthens PingPong's platform with real-time risk checks, dynamic monitoring, and consistent policy enforcement across jurisdictions. As the volume and complexity of global payments continue to rise, these capabilities enable PingPong's platform to support large-scale enterprise growth while keeping the network secure, efficient, and regulator-aligned. "Enterprise payments need to be fast, trusted, transparent, and fully aligned with local regulation," said David Messenger, CEO of Global Businesses at PingPong. "Our platform connects directly to payment schemes such as SEPA, enabling faster, more reliable cross-border flows. Our automated and AI-powered onboarding / KYC reduces risk and friction, helping enterprise clients confidently scale across global markets." About us PingPong was founded in New York in 2015, with the goal of solving the immense challenge of scaling enterprise businesses globally. Fast forward to today, and PingPong has become one of the world's leading global cross-border payments platforms, with a Total Payment Volume (TPV) of more than $250 billion USD. Our API-first cross-border payments platform integrates with enterprises to send, manage, and receive money faster on a global scale. PingPong currently has 37 offices in 15 countries and 1,500 employees. Our international presence helps businesses solve complex payment needs in every major economy across all time zones. [1] Bank of England Logo - View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
