Elavon has announced enhancements to its international processing platform that expands multi-currency, cross-border and Dynamic Currency Conversion (DCC) capabilities for merchants. Elavon’s network now has the ability to authorize in 89 currencies, settle in 16, and convert up to 48 currencies for DCC. In addition, Elavon has launched DCC in Germany, where the processor can currently convert 27 currencies, giving its merchants the ability to generate a new revenue stream by sharing in the conversion fees. READ MORE

In an article titled "Visa Europe expects deal with EU on card fees soon", Huw Jones reports for Reuters about comments from Visa EU management indicating that they expect "to reach a deal with European Union competition authorities on its much disputed transaction fees this year."

Payoneer has announced that it is helping direct selling industry leaders to pay their international sales representatives’ commissions on branded reloadable Prepaid MasterCard cards instead of sending them paper checks or wire transfers. READ MORE

Travelex Cash Passport, the first prepaid foreign currency card in the United States according to the company, launched May 1. The card allows travelers to load and lock-in their rate for British Pounds or Euros. READ MORE

EPN, the ACH business of The Clearing House Payments Company, is urging financial institutions to start planning now to meet OFAC requirements for new international ACH transactions (IAT) in March 2009 and has created an IAT Readiness Checklist to help financial institutions prepare. READ MORE

The International Payments Framework Group (IPF) has announced its decision to go forward with the next phase of the project. According to IPF, 'Phase II will improve the cross-border payments process through operating rules that will enable interoperability between domestic and international ACH systems.' READ MORE

The International Payments Framework (IPF) has announced completion of its first phase. Over the past 12 months, representatives from 30 organizations representing 15 countries around the world have been reviewing the feasibility of an International Payments Framework. Phase I of the project is now complete with the development of the IPF concept paper. Phase II, which will enable interoperability between domestic and international ACH systems, has begun with a 90-day member solicitation period to conclude March 31, 2008.