international payments

With the release of the Strategic Treasurer Global Payments Survey and their latest findings about the international payments landscape, Fintech in Focus caught up with Craig Jeffrey, Founder of Strategic Treasurer and Mark Frey, President of Corpay Cross-Border Solutions. We discuss the results of the survey, which offer a comprehensive view of the global payments environment, with a lens on cross-border and FX activity, the use of new payment technologies, banking connectivity innovations, and security and fraud prevention.

Download the survey at https://strategictreasurer.com/2022-global-payments .

Note: The opinions expressed on Fintech in Focus News & Views are those of the speakers only, and do not necessarily reflect the views of Corpay or FLEETCOR Inc.

Jason Mugford, President and CEO of Ascendant is our special guest this week on episode 130 of the Leaders in Payments podcast.  Jason is a Toronto native and loyal fintech supporter. He talks with me about his journey in the industry and how he went from an aspiring Lacrosse player to a seasoned payments professional.

 Ascendant is an international accounts payable and receivable business that facilitates foreign payments for companies on a global scale. 

 One of their most notable services is reducing the vertical fraud and risk investigation potential for their international customers and tracking payments from release to remittance. According to Jason, this not only adds more transparency to the industry but also reduces investigations from an average of 20% to less than 1%. 

 As for the future of our industry, Jason predicts that both sides of the transaction will eventually come together as a network, enabling us to expedite the movement of money in a more seamless fashion.

And can you believe all this started with a childhood affinity for Thomas Cook travelers checks?

Bob Dowd, CEO North America for Moneycorp is our special guest this week on episode 129 of the Leaders in Payment Podcast. 

Today, I have the pleasure of speaking with Bob – a man who started his 38-year payments career at Kennedy airport in New York carrying hundreds of thousands of dollars across terminals in a canvas bag. So, how did he go from this to CEO of the only non-US bank in the world to have a direct relationship with the US Federal Reserve?

 Well, “the harder you work, the luckier you get” is one of his favorite adages, if that tells you anything.

Moneycorp is an international payments and foreign exchange company that leads the industry in providing global payments and currency risk management to corporations and partners around the world. They have $50 billion in foreign-exchange flows and $200 million in top-line revenue and facilitate 6 million individual payments on an annual basis.

Bob talks about where the industry is headed as it relates to real-time, low-value payment rails and blockchain – and how his company kept global economies afloat by delivering cash throughout the world during the COVID pandemic.

Aryze CFO and Co-Founder Morten Christorp Nielsen joins Lloyd to discuss how digital assets have the potential to revolutionise financial inclusion.

After starting his career with such vaunted names as JP Morgan and UBS, Morten turned his attention to socially responsible finance. That’s how he got involved with Aryze, which aims to leverage blockchain and DLT to take the cost out of moving money around the world.

To kick off their conversation, Morten and Lloyd go through Aryze’s journey from its founding to its present day. They touch on the difficulties of transferring money internationally, why Aryze has adopted an ethos of corporate responsibility, and how tokenisation can reduce costs for end users. Plus, Morten shares how he became JP Morgan’s third most successful salesman worldwide and lets us in on how DLT will allow smaller financial organisations to gain a foothold in the industry.

Follow Mana Search on Twitter: https://twitter.com/manasearchuk

Follow Mana Search on LinkedIn: https://www.linkedin.com/company/mana-talent/

In this episode of The Payments Show Podcast, I spoke to Yogesh Sangle who is the is the Global Head of Consumer Business at NIUM, which is based in Singapore.

NIUM provides business payment solutions for SMEs, Financial Institutions, Enterprises and other Payment Service Providers.

Summary of topics discussed:
1. Real-time Instant Payments
2. Multicurrency Payments and Accounts
3. International Bank Account Numbers
4. Turn Personal and Corporate Credit Cards into Working Capital
5. Pay Suppliers Without Converting Currencies
6. Sweep Revenues When Exchange Rates Are Favourable
7. Virtual Cards
8. Trends: Silver Generation and Lower Socio-Economic Groups
9. Government Regulation and User Experience
10. ‘Time machine’ for Corporate Expense Solution

10m Highlights Version: click here

Details:
- Recorded on 28 May 2020
- Host: Satwant Phull, Founder of Digital Money Lab
- Guest: Yogesh Sangle, Global Head of Consumer Business at NIUM

[Next Steps]
- Get in touch with Satwant: digitalmoneylab.com
- NIUM: nium.com | @NiumOpenMoney

[Support the Show]

In this episode of The Payments Show Podcast, I spoke to Alexander Busarov, who is a Co-Founder of Tael. 

Tael is a Cryptocurrency Token for Safe Consumer Products. The Tael Platform allows consumers to securely verify a product’s authenticity by scanning a special NFC-enabled label. Every scan earns them Tael cryptocurrency tokens. These tokens can then be used to purchase goods and services.  

Summary of topics discussed:
1. Physical and Digital Security Platform to ensure Product Authenticity and Anti-Counterfeiting
2. Tael cryptocurrency for products where health and safety are paramount including: Infant Formula, Baby Food, Baby Bottles, Cosmetics, Supplements, Personal Care Products
3. A Marketplace for Safe Consumer Products (currently 500 products)
4. Tael Marketplace on WeChat
5. Customer-focused solution for convenience
6. Rich consumer data for brands: feedback for better products, better targeted marketing
7. Downsides of QR codes for anti-counterfeiting
8. Customers can spend Taels in their home country or abroad
9. Payment Solution of the Future
10. Get a higher ROI on FMCG marketing budgets from higher quality customer data

10m Highlights Version: click here

Details:
- Recorded on 30 March 2020
- Host: Satwant Phull, Founder of Digital Money Lab
- Guest: Alexander Busarov, Co-Founder of Tael

[Next Steps]
- Get in touch with Satwant: digitalmoneylab.com
- Tael: taelpay.com

[Support the Show]

In this episode of The Payments Show Podcast, I spoke to Nathan Archie who is the Australia & New Zealand Country Manager for Payoneer.

Payoneer is a cross-border payments platform which enables businesses, online sellers and freelancers to make and receive payments globally as easily as they do locally.

10m Highlights Version: click here

Summary of topics discussed:

1. Helping SMBs Grow in New and Global Marketplaces
2. Enterprise Product to Help Onboard Customers at Scale
3. Single Pane of Glass For Different Global Payment Service Providers
4. Offering Working Capital for eCommerce Marketplace Customers (Australia / UK / US)
5. Improve Risk and Compliance Capability
6. Accept Payments in Different Countries Without Having to Sign Up For New Payment Processors
7. Increased Speed and Efficiency When Distributing Funds
8. Cryptocurrency
9. Coronavirus Impact and Opportunity for ANZ Businesses To Sell Overseas
10. Stop Paying Double FX Fees to Move Money Globally

Details:

- Recorded on 25 February 2020
- Host: Satwant Phull, Founder of Digital Money Lab
- Guest: Nathan Archie, ANZ Country Manager at Payoneer

[Next Steps]
- Get in touch with Satwant: digitalmoneylab.com
- Payoneer: payoneer.com

[Support the Show]

Buy me a coffee: buymeacoffee.com/satwant

Sponsors

• FloQast:  http://cloudaccountingpodcast.promo/floqast
• AutoEntry: http://cloudaccountingpodcast.promo/autoentry

Show Notes

• 00:53 - Welcome to the Cloud Accounting Podcast!
• 00:57 - Amazon’s Latest Experiment: Retraining Its Work Force | NYTimes (https://www.nytimes.com/2019/07/11/technology/amazon-workers-retraining-automation.html)
• 05:23 - The end of the war for talent? | Accounting Today (https://www.accountingtoday.com/news/the-end-of-the-war-for-accounting-talent)
• 08:39 - Companies use this creative trick keep wages stagnant, even in a strong economy | MarketWatch (https://www.marketwatch.com/story/this-theory-could-help-explain-why-wages-arent-rising-faster-2018-08-06)
• 12:00 - Microsoft Teams reaches 13 million daily active users, introduces 4 new ways for teams to work better together | Microsoft (https://www.microsoft.com/en-us/microsoft-365/blog/2019/07/11/microsoft-teams-reaches-13-million-daily-active-users-introduces-4-new-ways-for-teams-to-work-better-together/)
• 14:32 - We talked to 10 Robinhood insiders about how the $6 billion trading app botched a launch so badly Congress got involved | Business Insider (https://www.businessinsider.com/robinhood-millennial-trading-app-ignored-rules-checking-and-savings-2019-7)
• 17:47 - Bill.com Doubles Currencies and Countries for No-Fee International Payments | Insightful Accountant (https://www.intuitiveaccountant.com/vendor-news/bill-com-doubles-currencies-and-countries-for-no-fee-interna/)
• 19:20 - MindBridge Ai gets $11M in new funding to accelerate AI development | Accounting Today (https://www.accountingtoday.com/news/mindbridge-ai-gets-11m-in-new-funding-to-accelerate-ai-development)
• 20:21 - Kabbage secures $200M to fuel its AI-based loans platform for small businesses | TechCrunch (https://techcrunch.com/2019/07/02/kabbage-secures-200m-to-fuel-its-ai-based-loans-platform-for-small-businesses/)
• 22:04 - CPAs see risks in complex financial instruments and derivatives | Accounting Today (https://www.accountingtoday.com/news/cpas-see-risks-in-complex-financial-instruments-and-derivatives)
• 26:13 - Monopoly Goes Cashless, Games Gain Popularity | PYMNTS.com (https://www.pymnts.com/innovation/2019/monopoly-goes-cashless-board-games-gain-popularity/)
• 28:39 - myGov website goes down affecting tax return services | Twitter (https://twitter.com/i/events/1149484643801939970)
• 30:47 - Follow @BlakeTOliver and @DavidLearn on Twitter
• 31:32 - Meet us in person at the Accounting & Finance Show LA (https://www.terrapinn.com/exhibition/accounting-finance-show-la/index.stm)

Get in Touch

Thanks for listening! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, do us a favor and write a review on iTunes. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.

Subscribe

• Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
• Spotify: http://cloudacctpod.link/Spotify
• Google Play: http://cloudacctpod.link/GooglePlay
• Stitcher: http://cloudacctpod.link/Stitcher
• Overcast: http://cloudacctpod.link/Overcast

In this episode Wyre Talks, we interview the cofounders of Wyre: Michael Dunworth and Ioannis (Yanni) Giannaros. They recounted the story of Wyre; where it came from and where it's going. Wyre has been in the crypto space for five years now, and it's been a long and winding road, but we've seen a lot and learned a lot. It wasn't always easy but this is the story that defines who Wyre is today.

Mike and Yanni also talk about:

• the struggles of founding a company and scaling it beyond the hacker house
• trying to get into Boost VC and handling rejection finally
• getting some traction and raising funds

You can follow the host on Twitter! 

Thomas Scaria: @tomscaria