Cross Border Payment News Today

PM Deuba and Modi Launch RuPay in Nepal | Cross-Border Pay : Rashtra News #Deuba #Modi #Launch #RuPay #Nepal #CrossBorder #Pay Nepali consumers can now use India’s international payment system RuPay in Nepal after its recent launch. PM Deuba, in his official visit to India, jointly launched the popular payment system with his Indian counterpart

The cross-border transaction of AED50 million ($13.6 million) was sent by Sheikh Mansour bin Zayed Al Nahyan, chairman of the board of the Central Bank of the UAE, to China.

Vietnam’s new cross-border payment initiatives represent a significant advancement in streamlining payment processes for tourists, a move set to significantly enhance tourism across Southeast Asia.

Multigate, a licensed treasury management technology company, has obtainedregulatory approval for remittances into Kenya.

Central Bank Digital Currency (CBDC), or e-rupee, can help reduce the cost of cross-border remittances by 2-3%, according to an official. The Central Bank Digital Currency (CBDC) is a digital token that represents legal tender and is issued in the same denominations as paper currency and coins.

​​RBI has decided to regulate entities facilitating payment and settlement for online cross border export / import transactions as Payment Aggregators - Cross Border (PA-CB) under the Payment and Settlement Systems Act, the central bank said in a circular.

SINGAPORE, November 14, 2023--WorldFirst, a one-stop digital payment and financial services platform for cross-border trade SMEs, today announced its plan to launch e-commerce digital finance solutions in new Southeast Asian markets in 2023 and 2024, aiming to support online sellers achieve growth with secure, fast and reliable cross-border payment and financial services as well as easy one-stop connection to multiple global marketplaces.

On February 21, India and Singapore launched the real-term linkage between the UPI and PayNow to facilitate instant and cost-effective cross-border fund transfers. Money transfers can be made from India to Singapore using mobile numbers and from Singapore to India using virtual payment addresses.

On February 21, India and Singapore launched the real-term linkage between the UPI and PayNow to facilitate instant and cost-effective cross-border fund transfers. Money transfers can be made from India to Singapore using mobile numbers and from Singapore to India using virtual payment addresses.

The Reserve Bank of India earlier this week said all entities facilitating cross border payment transactions for import and export of goods and services will be directly regulated by it.