BNY Mellon has announced an expansion in its cross-border payment capabilities, with support now available for payment transactions in more than 100 currencies.
It said that the collaboration between BNY Mellon’s global markets and treasury services businesses will enhance the company’s cross-border payment capabilities for both corporate and financial institution clients and significantly increases the currencies offered on BNY Mellon’s Multicurrency Payments and iDeal Forex platforms.
“BNY Mellon has always relied on two key ingredients – its robust processing and clearing capabilities, and the strength of BNY Mellon’s global markets business, to deliver quality products and services that satisfy our clients’ needs,” said J. David Cruikshank, executive vice president and chief executive officer (CEO) of BNY Mellon’s treasury services business.
“This expansion in the currencies supported on our payment platforms leverages our strengths, and keeps pace with client demands in an increasingly global economy.”
Despite being behind the likes of Europe and China, the US payments industry is now rapidly advancing, said Anish Kapoor, CEO of AccessPay told GTNews in an exclusive interview.
Treasurers are more interested in cross-border payments and automation than real-time payments, as they are consistently asked to do more with less, argues Rick Burke, head of corporate payments at TD Bank in an exclusive interview.
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