Latest news with #crossBorderPayments
Zawya
10-07-2025
- Business
- Zawya
Aspire Enables Global Amazon Sellers to Maximise Earnings with Free and Fast Payouts
SINGAPORE - Media OutReach Newswire - 10 July 2025 - Aspire, the all-in-one finance platform for modern businesses, has announced that it is now officially part of the Amazon Payment Service Provider Program. With this integration, Amazon sellers can now receive payouts from Amazon marketplaces directly into Aspire's local currency accounts on the same day with zero payout fees and foreign exchange charges when receiving in the same currency. By eliminating two of the biggest pain points for global sellers: costly fees and delays, Aspire helps sellers keep more of their hard earned money. While millions of merchants leverage Amazon's global reach, cross border payments remain a major hurdle for them. Cross border sellers often face high FX costs, long wait times to access funds, and limited visibility over their cash flow, all hidden costs that can eat into their margins. The integration directly addresses these challenges, delivering a seamless solution that moves at the speed and scale of modern commerce. With Aspire, Amazon sellers not only enjoy fast, free payouts in their preferred currency, but also benefit from cashback when using Aspire corporate cards to spend on Amazon Ads and other digital platforms. "We're proud to be part of the Amazon Payments Service Provider Program, to empower global sellers with the tools they need to grow without friction in an increasingly interconnected global marketplace," said Andrea Baronchelli, CEO and Co-Founder of Aspire. "Sellers should be able to move their money as freely as they move their products. With this integration, they can finally focus on scaling their business, not chasing their earnings." Aspire's participation in the Amazon Payment Service Provider Program reflects its broader mission to simplify financial operations for global ecommerce merchants. With multi-currency business accounts, seamless marketplace payouts, corporate cards and FX optimization, Aspire continues to develop innovative tools that remove inefficiencies in global payments to empower global sellers. To learn more about how to collect Amazon payouts on Aspire, visit Hashtag: #Aspire The issuer is solely responsible for the content of this announcement. About Aspire Aspire is the all-in-one finance platform for modern businesses globally, helping over 50,000 companies save time and money with international payments, treasury, expense, payable, and receivable management solutions - accessible via a single, user-friendly account. Headquartered in Singapore, Aspire has 600+ employees across nine countries, clients in 30+ markets and is backed by global top tier VCs, including Sequoia, Lightspeed, Y-Combinator, Tencent and Paypal. In 2023, Aspire closed an oversubscribed US$100M Series C round and announced that it has achieved profitability. Aspire
Malay Mail
10-07-2025
- Business
- Malay Mail
Aspire Enables Global Amazon Sellers to Maximise Earnings with Free and Fast Payouts
SINGAPORE - Media OutReach Newswire - 10 July 2025 -Aspire, the all-in-one finance platform for modern businesses, has announced that it is now officially part of the Amazon Payment Service Provider Program. With this integration, Amazon sellers can now receive payouts from Amazon marketplaces directly into Aspire's local currency accounts on the same day with zero payout fees and foreign exchange charges when receiving in the same currency. By eliminating two of the biggest pain points for global sellers: costly fees and delays, Aspire helps sellers keep more of their hard earned millions of merchants leverage Amazon's global reach, cross border payments remain a major hurdle for them. Cross border sellers often face high FX costs, long wait times to access funds, and limited visibility over their cash flow, all hidden costs that can eat into their margins. The integration directly addresses these challenges, delivering a seamless solution that moves at the speed and scale of modern commerce. With Aspire, Amazon sellers not only enjoy fast, free payouts in their preferred currency, but also benefit from cashback when using Aspire corporate cards to spend on Amazon Ads and other digital platforms."We're proud to be part of the Amazon Payments Service Provider Program, to empower global sellers with the tools they need to grow without friction in an increasingly interconnected global marketplace," said Andrea Baronchelli, CEO and Co-Founder of Aspire. "Sellers should be able to move their money as freely as they move their products. With this integration, they can finally focus on scaling their business, not chasing their earnings."Aspire's participation in the Amazon Payment Service Provider Program reflects its broader mission to simplify financial operations for global ecommerce merchants. With multi-currency business accounts, seamless marketplace payouts, corporate cards and FX optimization, Aspire continues to develop innovative tools that remove inefficiencies in global payments to empower global learn more about how to collect Amazon payouts on Aspire, visit Hashtag: #Aspire The issuer is solely responsible for the content of this announcement. About Aspire Aspire is the all-in-one finance platform for modern businesses globally, helping over 50,000 companies save time and money with international payments, treasury, expense, payable, and receivable management solutions - accessible via a single, user-friendly account. Headquartered in Singapore, Aspire has 600+ employees across nine countries, clients in 30+ markets and is backed by global top tier VCs, including Sequoia, Lightspeed, Y-Combinator, Tencent and Paypal. In 2023, Aspire closed an oversubscribed US$100M Series C round and announced that it has achieved profitability.
Yahoo
06-07-2025
- Business
- Yahoo
Decade-old Local Currency Push by BRICS Is Still A Pipe Dream
(Bloomberg) -- BRICS countries once again failed to make significant strides in the cross-border payments system for trade and investment they've been discussing for a decade. Foreign Buyers Swoop on Cape Town Homes, Pricing Out Locals Trump's Gilded Design Style May Be Gaudy. But Don't Call it 'Rococo.' Massachusetts to Follow NYC in Making Landlords Pay Broker Fees NYC Commutes Resume After Midtown Bus Terminal Crash Chaos What Gothenburg Got Out of Congestion Pricing In a statement released as they kicked off their meeting in Brazil Sunday, leaders committed to additional talks on the potential for greater trade integration of the 10-nation bloc. 'We task our ministers of finance and central bank governors, as appropriate, to continue the discussion on the BRICS Cross-Border Payments Initiative,' the statement reads. A survey prepared by the Brazilian central bank will be presented at the two-day Rio de Janeiro summit. Despite the group's aspirations, progress has been slow — and the tide of global trade is shifting so quickly that it may be impossible to catch up. It's a missed opportunity for BRICS as the dollar comes under continued pressure from President Donald Trump's erratic policies. The greenback had the worst start to a year since 1973 as Trump's trade war and attacks on the Federal Reserve's hesitancy to lower interest rates roiled markets, calling into question the longstanding outperformance of US assets and sending investors fleeing in search of alternatives. It's created a boon for emerging markets that traders expect to extend further. While all members are supportive of the idea of cross-border payments, first cited in the statement of the bloc's 2015 summit, the technical aspects of integration are complicated. Central bank systems in some countries are not yet ready, three people familiar with the discussions said. It will take time to adapt those, they said, adding that it's unlikely to happen anytime soon. Roadblocks Discussions involve payment mechanisms, types of currencies used, how to implement infrastructure and how to share costs. There are security concerns about the integrated systems, two people said, adding that the BRICS bloc's recent expansion has also caused delays. The fact that several of the bloc's currencies are non convertible, and existing sanctions on member states Iran and Russia further complicate discussions, one person said. Some countries may argue that the cost involved in setting up and maintaining a unified system would not be justified given what they already have in terms of bilateral trade, another added. All asked not to be identified sharing details of private conversations. China, for one, has taken advantage of the US disarray and launched a sweeping campaign to promote the yuan's global role. In a speech last month, Chinese central bank governor Pan Gongsheng outlined a vision in which the country's financial markets are more open and the yuan plays a central role in the world's capital flows. Beijing is exploring the launch of the country's first domestic currency futures, which could compete with similar hedging tools in offshore markets like Singapore and Chicago, and is expanding its own payment system, known as CIPS, to cover more foreign banks. Trump pushback BRICS leaders also reaffirmed their commitment to expand local currency financing, diversify funding sources and strengthen cooperation in trade to promote inclusive growth and sustainable development. A document obtained by Bloomberg that outlines the latest thinking by the bloc shows that discussions around a new investment platform dubbed NIP are similarly stalled. The platform is seen as potentially filling a gap in development finance, providing more flexibility and reducing the dependency on hard currency financing. But 'given the variety of approaches and proposals raised, and the complex nature of the issues involved, further technical dialogue will be essential to advance a common understanding of the Platform's potential added value and operational framework,' it reads. Trump has threatened to slap 100% levies on BRICS if they ditch the dollar in bilateral trade. The pushback, in turn, has spurred interest in developing local payment systems and other instruments that can facilitate commerce and investment between the nations. The idea of abandoning the dollar and setting up a common currency for the bloc isn't under discussion, several officials have said. The US leader's response has not delayed BRICS conversations for the integrated systems, three people said. 'One of the ways to bring countries closer together is to reduce financing costs for trade operations. And one of the ways is to use more local currencies,' Tatiana Rosito, secretary for international relations at Brazil's Finance Ministry, said in an interview. 'Banks say that, depending on the period in which you carry out the operation, they may need to use the rate converting renminbi to dollars. But the goal in the end is you one day don't have it.' If there's a liquid market, 'you will have a direct exchange rate real-renminbi, real-rupee, real-rand,' she said. 'But this will depend on whether you have a critical mass and a volume of trade investments.' High rates The BRICS statement also references the added challenge presented by 'fluctuations in financial and monetary policies in some advanced economies' for countries already grappling with high debt levels. 'High interest rates and tighter financing conditions worsen debt vulnerabilities in many countries,' it reads. The bloc is also in discussions to establish a multilateral guarantees initiative which would focus on improving 'creditworthiness in the BRICS and the Global South.' The initiative, dubbed BMG, will be incubated within the NDB and start without additional capital contributions, according to the statement. --With assistance from Alan Crawford. For Brazil's Criminals, Coffee Beans Are the Target SNAP Cuts in Big Tax Bill Will Hit a Lot of Trump Voters Too Sperm Freezing Is a New Hot Market for Startups Pistachios Are Everywhere Right Now, Not Just in Dubai Chocolate China's Homegrown Jewelry Superstar ©2025 Bloomberg L.P.
Finextra
02-07-2025
- Business
- Finextra
Orbital signs with ClearBank to connect Sepa rails with stablecoins
Orbital has partnered with ClearBank Europe to expand real-time euro payment options. The Orbital ClearBank partnership connects SEPA rails with stablecoins, driving innovation in cross-border digital payments. 0 Cross-border payments using rails like SWIFT are too expensive, too slow, and too opaque for enterprises trading with and across Europe. They have been forced to stitch together an array of different payment networks from bank transfers to stablecoins, FX and local payment options to meet their needs. This complex infrastructure creates major challenges around reconciliation, counterparty identification and liquidity management for corporate treasury teams. By partnering with ClearBank Europe, Orbital group gains direct access to real-time euro clearing, named IBANs, and SEPA infrastructure with full AML and KYC checks to ensure compliance. This integration strengthens Orbital's fiat payment capabilities, enabling enterprise customers to manage EUR bank transfers more efficiently. Businesses can avoid the high fees and FX charges often associated with international EUR transfers as well as improve cash flow and operational efficiency through SEPA Instant Credit Transfers. The Orbital ClearBank partnership combines fiat and crypto infrastructure to support faster, cost-effective business transactions across Europe. Separately, the wider Orbital group offers additional treasury solutions, such as stablecoins, FX and local payout rails - all accessible through a unified platform - which further improves speed, cost efficiencies and cashflow. Real-time wallet-based tracking, counterparty identification and reconciliation across fiat flows, reduces risk, and supports banking-grade compliance - especially for high-volume, multi-jurisdictional businesses. This Orbital ClearBank partnership represents a major step toward seamless integration between traditional banking and blockchain-based payments. 'Stablecoins are moving into the mainstream and we're seeing an influx of enterprises looking to use digital assets to improve cash and treasury management especially across borders,' said Chris Mason, CEO of Orbital group. 'But stablecoins are sandwiched between fiat on/off rails. If those rails aren't real-time, then the overall payment flow isn't either. This is why direct access to SEPA with ClearBank Europe is so important for our customers.' 'We selected ClearBank Europe because of its real-time clearing capabilities, market-leading API, and banking-grade compliance standards. It is simply the best embedded banking provider in Europe and has a strong track record working with digital asset platforms' continued Mason. 'This Orbital ClearBank partnership marks a significant milestone for Orbital, providing direct access to real-time euro clearing, named IBANs, and SEPA infrastructure and we are pleased to be supporting this delivery to their customers', said Ezequiel Canestrari, Chief Operating Officer, ClearBank Europe. 'It's an exciting time for both Orbital and ClearBank Europe as we work together to deliver enhanced financial solutions.'
Finextra
20-06-2025
- Business
- Finextra
Standard Bank adds access to China's Cross-Border Interbank Payment system
In a first for the continent, Standard Bank Corporate and Investment Banking is the first authorised bank to offer transactions through China's Cross-Border Interbank Payment System (CIPS). 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. The bank was recently granted license to offer CIPS transactions at this year's Lujiazui Forum. The Forum was created as a high-level global platform for government officials, world financial leaders and outstanding scholars to discuss and foster international financial cooperation and further the financial reform and market opening in China. eponymous conference held in Shanghai. The payment system will allow for interbank payments between Africa and China using Chinese Renminbi (RMB) as the underpinning currency. Access to CIPS will provide banks and financial institutions the ability to clear and settle cross-border payments without the need to use different currencies. 'As an institution that is invested in driving Africa's economic growth, we are excited to be the first bank on the continent that offers CIPS transactions. This demonstrates our commitment and ability to deliver innovative solutions that truly add value for our clients,' says Anne Aliker, Group Head of Client Coverage at Standard Bank Corporate Investment Banking. According to Standard Bank's Trade Barometer 2024, 34% of surveyed businesses source their imports from China in contrast to 23% of the businesses surveyed in May 2023. This is indicative of the growing trade between Africa and China. 'We believe that CIPS will contribute to unlocking Africa's economic potential by fast tracking the advancement in trade that will support infrastructure development, greater regional integration and efficient deployment of capital,' adds Aliker. With China being Africa's largest export market, the new payment system will simplify and accelerate the clearance of transactions between the two markets. 'We will continue to seamlessly meet our clients' needs by providing flexibility in solutions in line with to the developing payments landscape,' concludes Aliker. CIPS transactions will be available on Standard Bank platforms from September 2025.
