Tagged: cross-border payments

Remittance Payments Sent by US-based Mexican Workers to Relatives back Home have Reached Record Levels, following COVID Outbreak

Mexican workers now based in the United States have reportedly been sending record amounts of funds to friends or family members back home since 2020, which may suggest that the American economy has been fairly resilient despite the challenges created by the COVID-19 outbreak. As… Read More

Fintech Firm Lightnet and Siam Commercial Bank to Support Cross-Border Payments from South Korea to Thailand

Siam Commercial Bank (BKK:SCB) has partnered with Lightnet to provide cross-border fund transfer services from South Korea to Thailand. As a digital banking service provider, Siam Commercial Bank (SCB) is focused on continuously updating its Fintech capabilities. SCB will now be working with the Lightnet… Read More

Global Money Transfer Service Azimo and Payments Fintech dLocal to Facilitate Remittances from Europe, Australia to Colombia

Global money transfer service Azimo has teamed up with payments focused Fintech firm dLocal in order to allow migrant workers based in Europe and Australia to send funds to almost any bank in Colombia, which reportedly includes Banco de Bogota, Banco de Occidente, and Davivienda…. Read More

Cross-Border Money Transfer Service TransferWise to Hire 750 New Staff Members in the Next 6 Months

Fintech Unicorn TransferWise is reportedly planning to recruit 750 additional workers in the coming months. These new hires would be equivalent to over a third of the online money transfer service’s existing team of professionals. This latest announcement has come after quite a successful period… Read More

Fintech Unicorn TransferWise Acquires Restricted Banking License in Australia as it Expands Operations Globally

Fintech Unicorn TransferWise has reportedly managed to acquire a restricted banking license in Australia. The leading money transfer service provider has been approved to gain direct access to Australia’s real-time payment system. The permit has been issued by Australia’s Prudential Regulatory Authority. Under the license,… Read More

TransferWise Competitor PagoFX from Santander Bank to Provide Cross-Border Payments Services in Belgium

Banco Santander S.A. (Santander Group) (BME:SAN), the world’s 16th-largest banking institution and financial services company based in Madrid, introduced PagoFX, its international payments application for UK customers, in April 2020. Santander’s TransferWise competitor PagoFX is now set to expand its coverage into Belgium. There will… Read More

TransferWise Customers in Indonesia Can Now Send Remittance Payments to 80 Different Countries

Fintech firm TransferWise recently announced that Indonesians and ex-pat workers will now be able to send money from Indonesia to 80 different countries, which includes Australia, Singapore, Japan, US, UK, China (Alipay) — and across Europe as well. TransferWise users are now able to send… Read More

Visa Announces Completion of YellowPepper Acquisition

  Visa (NYSE:V) announced on Friday it has completed the acquisition of YellowPepper, a payments tech company that supports financial institutions and startups in Latin America and the Caribbean. Visa reported that the acquisition is considered the first of its kind for financial giant in… Read More

Number of Virtual Asset Transactions Triggering Travel Rule Thresholds Could Increase Significantly Under FinCEN’s New Rules: Report

Blockchain security firm Ciphertrace has noted that FinCEN’s suggested rule change for the Travel Rule Threshold would “more than double” compliance events for US-based virtual asset service providers or VASPs. CipherTrace confirms that FinCEN had released a proposed rule change (in October 2020). The recommendation… Read More

American Fintech Ripple Set to Establish Operations at the Dubai International Financial Centre

American Fintech firm Ripple has reportedly chosen the Dubai International Financial Centre as its new regional headquarters. Financial institutions based in over 45 different countries are currently using RippleNet, which is a “decentralized” network for conducting cross-border transactions between different financial services providers. Ripple focuses… Read More

Finaxct, a Core as a Service Banking Solution Provider, to Add Unqork and TransferWise to its Marketplace

Finxact, an established “Core as a Service” banking solution provider, says it’s leading the transition in the US to a model of core banking that leverages the benefits of Cloud along with supporting the ability for banks to choose the best technology providers. According to… Read More

Patricia Montesi: CEO at Qolo Explains how Fintech Firm’s B2B Payments Platform Is Helping Companies Settle Cross-Border Transactions

We recently connected with Patricia Montesi, Co-Founder and CEO at Qolo, a Fintech firm focused on B2B payments and facilitating cost-effective cross-border transaction processing. Montesi discussed what her company is doing to help businesses with settling payments in a more efficient manner. She also talked… Read More

Netherlands’ TerraPay, a Cross-Border Payments Infrastructure Developer, Appoints Ritesh Pai as SVP for Product and Payments

Netherlands-based TerraPay, a cross-border payments infrastructure developer, has hired Ritesh Pai to serve as the company’s senior vice president for product and payment solutions. TerraPay claims that it’s a leader in offering seamless and secure cross-border real-time payments via “digital interoperability” across different financial instruments including… Read More

Visa to Acquire Miami based YellowPepper, a Payments Technology Firm, in order Expand Global Operations

Visa (NYSE:V) is reportedly planning to acquire YellowPepper, a payments tech company, in order to extend its global operations into the Caribbean and other jurisdictions. Established in 2014 and fully operational in nine different Latin American (LatAm) nations, the Miami-headquartered firm serves around 50 clients… Read More

Expense Management Firm Emburse Launches Global Reimbursements Platform that’s Powered by TransferWise

Emburse, a company focused on providing expense management solutions and accounts payable automation, has introduced Emburse Global Reimbursements – which is powered by global money transfer service provider, TransferWise (which recently booked its 4th year of profitability while processing £67 billion in transfers in the… Read More

Over 30% of Cross-Border Payments Made via Fintech TransferWise are Now Instant, Transaction Fees have Also been Lowered: Report

  UK-based Fintech firm and stealth bank TransferWise, which recently booked its 4th year of profitability while processing £67 billion in transfers in the past year, has published its Q3 2020 report which goes over how the company has been focusing on its goal of… Read More

Dubai based Fintech Rise Launches New Platform for Affordable Remittance or Cross-Border Payments

Dubai-based Fintech firm Rise has launched a new platform that allows expatriate workers to make low-cost or affordable remittance payments. The platform’s users are able to send payments in real-time to friends and family members living abroad. At present, the remittance service is in its… Read More

UK Fintech TransferWise Now Supports Transactions with Hungarian forints Directly to Customer Accounts

UK Fintech and stealth bank TransferWise notes that whether you’re in Budapest, Bangkok or Pisco, you’ll now be able to receive Hungarian forints directly into your TransferWise account — the same way that a local would receive the funds. The TransferWise team clarified that this… Read More

Cross-Border Payments Remain Inefficient with $48 Billion Lost in Fees Each Year, but Bitcoin (BTC) Might Solve Problem, According to OpenNode

Bitcoin (BTC), the world’s leading cryptocurrency, could potentially solve the global remittances problem, according to OpenNode, which focuses on supporting payments for businesses throughout the world. As explained by the OpenNode team, they aim to “empower” consumers and connect the world via “trusted” digital payment… Read More

Malaysian Fintech Valyou Introduces Blockchain based Remittance Service for Bangladeshi Workers Sending Money Back Home

Malaysia-based Fintech Valyou, a digital remittance payments service provider, has introduced a blockchain-enabled remittance solution in Bangladesh through a partnership with Standard Chartered and bKash, a mobile financial service provider. The distributed ledger tech (DLT)-powered platform will enable instant money transfers from Malaysia to Bangladesh…. Read More

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