Tagged: remittances

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

March 18, 2024 @ 9:10 am By Omar Faridi  |  

In the face of a highly fragmented financial services landscape and varying levels of maturity across its markets, Claire Huddleston, Sales and Marketing Director at Clear Junction, explains how digitization and remittances can drive Africa’s continuing economic development. Huddleston also talks about the key economic… Read More

March 13, 2024 @ 10:01 pm By Omar Faridi  |  

In a significant development for the remittance sector, TerraPay, a global cross-border payments network, has announced a partnership with Alfardan Exchange. Based in Qatar, Alfardan Exchange provides exchange services as well as commodities like gold and coins. This collaboration aims to leverage TerraPay’s advanced digital… Read More

March 3, 2024 @ 11:50 pm By Omar Faridi  |  

Currencycloud, the Fintech firm focused on simplifying business processes in a multi-currency environment, has teamed up with UK-headquartered Fintech company, TangoPay to improve its remittance service for its UK-based expat clients. This enhancement will be achieved by introducing real-time competitive foreign exchange (FX) rates along… Read More

February 26, 2024 @ 7:52 am By Omar Faridi  |  

Ebury, one of the largest fintech companies specializing in transactions for SMEs, announced its partnership expansion with Nium, the enabler of real-time global payments, to deliver a groundbreaking global remittance service in Brazil. The announcement follows regulatory “approval of Ebury’s acquisition of Brazilian fintech Bexs,… Read More

January 23, 2024 @ 11:35 pm By Omar Faridi  |  

Viamericas Corporation, which claims to be a licensed, international remittance company, recently has integrated with 24Xoro in order “to provide additional options for remittance beneficiaries to receive money in Mexico, providing Viamericas customers more options and locations for their remittance recipients to receive their money.”… Read More

December 24, 2023 @ 3:56 am By Omar Faridi  |  

Remittances to low- and middle-income countries (LMICs) grew “an estimated 3.8% in 2023, a moderation from the high gains of the previous two years.” Of concern is the risk of “decline in real income for migrants in 2024 in the face of global inflation and… Read More

November 28, 2023 @ 12:51 am By Omar Faridi  |  

Nium, the firm enabling real-time global payments, and Jeonbuk Bank (JB Bank), aSouth Korean financial institution, have announced a partnership. Together, they will offer the country’s first global remittance service “targeted at the 2.5 million non-Korean residents that live in South Korea.” The service will… Read More

November 2, 2023 @ 11:20 am By Omar Faridi  |  

Mastercard’s (NYSE: MA) new borderless payments report reveals consumers globally are setting up side hustles and considering working or living abroad, prompting the acceleration of cross-border payments. Small businesses are also increasingly “reliant on international payment networks with three in five sourcing more suppliers internationally… Read More

October 22, 2023 @ 2:51 pm By Omar Faridi  |  

Mastercard (NYSE: MA) and Remitly Global, Inc. (NASDAQ: RELY), a digital financial services provider for immigrants and their families, announced they’ve joined forces to expand access to cross-border payments and remittances. Tapping into the power of the Mastercard network, Remitly will integrate Mastercard’s Send and… Read More