Tagged: remittances

October 6, 2025 @ 6:08 pm By Omar Faridi  |  

Visa (NYSE: V) initiated a pilot program via its Visa Direct platform to allow businesses, including banks and remittance services, to preload accounts with stablecoins rather than traditional fiat currencies for international transfers. This approach treats stablecoins as readily available funds, akin to deposited cash,… Read More

August 5, 2025 @ 12:07 am By Omar Faridi  |  

Remitly, a Seattle-based digital remittance service, has announced its adoption of stablecoins to enhance its international money transfer capabilities. This strategic initiative will aim to position Remitly at the center of financial tech advancements, leveraging blockchain technology to offer faster, more cost-effective, and secure cross-border… Read More

August 1, 2025 @ 2:47 pm By Omar Faridi  |  

Remitly, a digital remittance provider, has reportedly introduced QR code-based cash pickups in Mexico. Announced recently, this feature, now available at Elektra and Banco Azteca locations across the country, marks a step forward in simplifying and securing the remittance process for millions of users. By… Read More

July 27, 2025 @ 5:20 pm By Omar Faridi  |  

Citigroup has released a comprehensive report outlining its strategic vision to enhance remittance services across Asia. As Asia remains a critical hub for global remittances—accounting for a significant share of the $700 billion global market—Citi’s report highlights approaches to address consumer and business needs, leveraging… Read More

June 25, 2025 @ 12:47 pm By Omar Faridi  |  

In a step toward enhancing global financial operations, Remitly, a digital remittance provider, has launched its International Business Payments service, announced on June 18, 2025. This new offering expands Remitly’s portfolio beyond consumer remittances, catering specifically to businesses, freelancers, and sole proprietors seeking fast, reliable,… Read More

June 16, 2025 @ 6:01 am By JD Alois  |  

Remittance Fintech LemFi has acquired Pillar. Pillar’s co-founders and Revolut alumni Ashutosh Bhatt and Adam Lewis will join the LemFi team. The terms of the deal were not immediately available. LemFi, founded in 2021, aims to support immigrants. The company reports working with over two… Read More

May 28, 2025 @ 4:00 pm By JD Alois  |  

The Financial Technology Association (FTA) has told Senate members not to tax remittances nor include citizenship verification as part of the anticipated reconciliation bill. The FTA said that it was joined by six other associations asking the Senate not to “harm hardworking Americans, including active… Read More

May 27, 2025 @ 9:31 pm By Omar Faridi  |  

Careem Pay, the fintech arm of the Careem Everything App, has introduced a new international money transfer service to Jordan. This addition to Careem Pay’s remittance network enables users to send money directly from the UAE to Jordanian bank accounts, catering to the needs of… Read More

May 25, 2025 @ 5:12 pm By Tony Zerucha  |  

This past week, SukuPay, a cryptocurrency-cross-border payments company, has been fully embedded as the remittance engine inside Zigi, the mobile app of Banco Industrial, Guatemala’s largest bank. SukuPay claims this is the first time a crypto-native protocol has gone live at this depth inside a… Read More

April 11, 2025 @ 3:48 pm By Omar Faridi  |  

Weixin Pay users can now receive cross-border transfers from Xoom, a PayPal (NASDAQ: PYPL) service and a digital remittances provider. This new partnership between Tenpay Global, Tencent’s cross-border payment platform, and Xoom allows Weixin Pay users to “receive money directly into their Weixin Pay Wallet… Read More

March 21, 2025 @ 4:27 pm By Omar Faridi  |  

dLocal, the payment platform connecting global merchants to emerging markets, announced a partnership with Belmoney, the  Remittance-as-a-Service (RAAS) provider in Europe. The global remittance industry remains burdened “with high fees and slow transaction speeds.” According to the IMF, transfers under $200 incur average fees “of… Read More

February 18, 2025 @ 11:13 pm By Omar Faridi  |  

Jazari has reportedly teamed up with Bud Financial to enhance Remit Now, Pay Later services, making remittances more accessible for migrant workers. Jazari, the UK-based Fintech, is behind the ‘Remit Now, Pay Later’ platform. By integrating Bud’s AI-powered financial data platform, Jazari is set to… Read More

February 5, 2025 @ 10:30 am By Tony Zerucha  |  

As Open Banking becomes more popular in Latin America, Prometeo is well-positioned to be a major player in the space. Prometeo’s partners, a provider of a single API connecting businesses to every bank in 11 countries, include Santander, Bancolombia, Banco de México, and Chile’s Banco… Read More

December 10, 2024 @ 10:07 pm By Omar Faridi  |  

Earlier this year, Payments Canada reportedly conducted a public consultation on proposed changes to Rule H6, which provides the framework for processing bill payment remittances via the Automated Clearing Settlement System (ACSS). The proposed changes aim to improve operational efficiency, the ability to embrace technological… Read More

October 31, 2024 @ 6:08 pm By Omar Faridi  |  

DailyPay, a worktech company, is expanding globally in more ways than one. DailyPay stated that it now focused on broadening the reach of its platform by adding a new feature: International Remittances. The International Remittances feature will enable DailyPay users to send funds at the… Read More

October 8, 2024 @ 8:39 am By Tony Zerucha  |  

This week, OwlTing Group, a global blockchain Fintech company, announced plans to implement Visa Direct solutions under a global agreement with Visa to provide real-time cross-border payments for individual and business customers. This agreement allows OwlTing to potentially reach more than 8.5 billion endpoints in… Read More

September 28, 2024 @ 1:49 pm By Tony Zerucha  |  

This week, African payment technology provider Flutterwave announced the expansion of its Send App service across 49 U.S. states through a partnership with MainStreet Bank, a subsidiary of MainStreet Bancshares Inc. (Nasdaq: MNSB and MNSBP). Texas isn’t included. Flutterwave said Send App facilitates faster, easier, and more… Read More

August 20, 2024 @ 10:41 pm By Tony Zerucha  |  

SentBe is preparing to launch its individual small-scale overseas remittance service globally. The move follows the launch of SentBiz KRW Collection for businesses needing Korean Won collection and multi-currency settlements within the Korean market. Targeting those who need to send money outside of their country,… Read More

March 31, 2024 @ 12:21 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) recently issued a Notice to extend, for a further six months until 30 September 2024, the suspension of the use of channels that are not specifically permitted (non-specified channels by remittance companies “when transmitting money to persons in the… Read More

March 25, 2024 @ 11:21 pm By Omar Faridi  |  

Mastercard (NYSE: MA) released a whitepaper on the state of remittances, also known as cross-border payments, in Latin America. Remittances play a key role in strengthening financial inclusion in the region, boosting economies, and alleviating poverty –often “serving as an essential source of income for… Read More