Page 2 - Cross Border Payment News Today

Business News: The Reserve Bank of India (RBI) has announced that it will directly regulate all entities involved in cross-border payment transactions for import and

The Reserve Bank of India, on Tuesday, announced it would directly regulate entities facilitating cross border payment transactions for import and export of goods

Reserve Bank Of India: Regulatory sandbox usually refers to live testing of new products or services in a controlled/test regulatory environment, for which regulators may (or may not) permit certain relaxations for the limited purpose of the testing.

Reserve Bank Governor Shaktikanta Das believes that Central Bank Digital Currency (CBDC) can be instrumental in facilitating cross-border payments. The RBI has conducted successful pilot projects on CBDC, leading to the conviction that it can be an effective mode for cross-border transactions. Das emphasized that while paper currency will continue to exist, CBDC will be the future currency worldwide.

India and Bangladesh have signed three Memorandums of Understanding (MoUs) to enhance commercial ties and cooperation in agricultural research and education. One MoU is between NPCI International Payments Limited and Bangladesh Bank, which aims to facilitate cross-border transactions and the acceptance of RuPay Card in Bangladesh.

Citi has recognised the outstanding performance of local banks during its Financial Institutions Roadshows, held in Hanoi and Ho Chi Minh City.

BANGKOK, August 09, 2023--Asset World Corp Public Company Limited or AWC, Thailand’s leading integrated lifestyle real estate group, and Ant Group, a global digital technology provider, have signed a memorandum of understanding (MoU) to launch various cross-border payment and digital financial solutions catered to the needs of AWC’s different businesses across hospitality, retail, wholesale and commercial, benefitting consumers, merchants and small businesses.

South African businesses that dare to venture beyond African shores into Europe and the United States are met with a host of complexities.

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KUALA LUMPUR: Bank Negara Malaysia (BNM) is working with ASEAN 5 (Indonesia, Philippines, Singapore, Thailand, and Malaysia) together with the Bank for International Settlements Innovation Hub in Singapore to put in place a multilateral platform for cross-border payment connectivity.