Today In Payments Around The World: UK PMI Suggests Strengthening Global Economy; Airbase Now Supports Cross-Border Payments To Over 200 Nations
In today’s top payments news around the world, an economic index is pointing to a strengthening global economy while Airbase is now supporting international bill payments to more than 200 nations. Plus, the Olympics are going digital with an inaugural virtual series.
The global economy is on pace for a formidable rebound, as shown by rises in Asian and European manufacturing output and the demand for services per the newest Purchasing Managers’ Index, which IHS Markit publishes monthly. The U.K. Manufacturing PMI was at 60.7, which marked an increase from 58.9 in March. The Index is a poll-based measure in the manufacturing and services industries. A reading that is higher than 50 points shows an expansion in business activity, while a reading under 50 points to contraction.
Airbase now supports cross-border bill payments to over 200 countries and 145 currencies. Noted in the announcement, businesses need to make payments to vendors across the world as they grow internationally. The bill payments feature within the Airbase spend management system offers the option to pay foreign vendors in U.S. dollars or local currency. Other bill payment functionalities offered to Airbase users include amortizations and auto-categorization.
The International Olympic Committee (IOC) will work with international sports federations and game publishers to put on the Olympic Virtual Series (OVS), the inaugural Olympic-licensed event for physical and nonphysical virtual sports. The series will take place between May 13 and June 23, 2021. “The Olympic Virtual Series is a new, unique Olympic digital experience that aims to grow direct engagement with new audiences in the field of virtual sports,” IOC President Thomas Bach said in an announcement. The games, which the IOC still calls Tokyo 2020, were delayed because of the pandemic.