Commonwealth Bank of Australia (CBA) has partnered with Euronet Worldwide company Dandelion Payments to upgrade its cross-border payment services with real-time international transfer capabilities.
Under the new arrangement, CBA customers will be able to track their international transfers in real-time through the bank’s existing digital platforms.
Dandelion’s global payments network currently offers instant payouts across more than 200 countries, with in-built settlement, compliance and pre-validation tools.
The partnership is expected to launch in phases, with additional features, such as digital wallet integrations and cash pickup options, planned for future rollout.
Serving over 18 million customers, CBA has pursued a keen digital transformation strategy under the leadership of Matt Comyn, appointed CEO and managing director in 2018.
This strategy has notably led to partnerships with JP Morgan’s blockchain business Kinexys (previously Onyx) and, more recently, OpenAI, while CBA acquired Waddle, an invoice lending platform previously owned by Xero, in 2023.
The $894.3 billion-asset bank’s latest transformation effort follows closely behind Citi, which announced its partnership with Dandelion late last month, focused on direct-to-wallet global payments.
Source: https://www.fintechfutures.com/
