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

October 10, 2020 @ 1:55 pm By Omar Faridi |

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

Read more in: Fintech, Global | Tagged cross-border payments, Cross-Border Transactions, digital transactions, global money transfer, kristo käärmann, money transfer, transferwise, uk, united kingdom, united states, us

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

September 16, 2020 @ 9:17 pm By Omar Faridi |

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

Read more in: Blockchain & Digital Assets, Fintech, Global | Tagged bitcoin, btc, cross-border payments, digital payments, digital transactions, global money transfer, migrant workers, money transfers, remittance, remittance payments

UK Fintech Paysend Teams Up with Alipay to Streamline Cross-Border Money Transfers and Promote Financial Inclusion

August 25, 2020 @ 12:31 pm By Omar Faridi |

UK-based Fintech firm Paysend, which focuses on global payments, has revealed that it will be working with Alipay to offer new cross-border money transfer options that aim to bring more seamless and inclusive financial services to consumers throughout the world. Paysend claims that its agreement… Read More

Read more in: Asia, Fintech, Global | Tagged alibaba, ant group, china, Cross-Border Transactions, cross-border transrfers, digital payments, europe, financial inclusion, fintech adoption, global money transfer, international payments, ma zhiguo, money transfer, paysend, ronnie millar, uk, united kingdom

UK Fintech TransferWise Enables Instant Money Transfers to Pakistan (PKR), Sri Lanka (LKR), Thailand (THB)

May 13, 2020 @ 8:37 am By Omar Faridi |

UK-based Fintech TransferWise recently revealed that customers can now send money instantly to several developing economies in Asia including Pakistan, Thailand, and Sri Lanka. The TransferWise team noted: “In the past, if you were sending money to Thailand (THB), Pakistan (PKR), or Sri Lanka (LKR)… Read More

Read more in: Asia, Fintech, Global | Tagged cross-border payments, global money transfer, instant payments, instant transfers, international payments, pakistan, remittances, sri lanka, thailand, transferwise, uk, united kingdom

Fintech TransferWise to Charge Small Fee to Produce, Deliver New Debit Cards, Becomes First Fully Online Money Transfer Service in UAE

April 25, 2020 @ 6:58 pm By Omar Faridi |

Fintech TransferWise, a London-based online money transfer service founded in 2011, has been offering debit cards to its customers at no extra cost. The company supports hundreds of currency routes across the globe, including GBP, USD, EUR, AUD, and CAD. However, TransferWise recently noted: “From… Read More

Read more in: Fintech, Global | Tagged aed, cross-border payments, dirhams, funds transfer, global money transfer, International Transactions, money transfer service, transferwise, uae, united arab amirates

Western Union Launches “Digital Location” Feature for Sending and Receiving Money from Users’ Homes to Prevent Further Spread of Coronavirus

March 28, 2020 @ 1:30 pm By Omar Faridi |

Global money transfer service provider, Western Union (NYSE: WU), has launched a new feature called, “Digital Location,” which allows users to send and receive funds from their own homes. Western Union revealed that it’s testing out the combined telephone and video service, which allows users… Read More

Read more in: General News, Global | Tagged cross-border payments, global money transfer, hikmet ersek, International Transactions, money transfer service, western union

MoneyGram Introduces New Real-Time Cross-Border Payments Service that Doesn’t Use Ripple’s Tech Despite Major Partnership

February 17, 2020 @ 11:31 am By Omar Faridi |

Global money transfer service provider MoneyGram has introduced a new service that lets users send payments in real-time, however, the new platform notably doesn’t involve the company’s business partner Ripple (which acquired $30 million in MoneyGram shares at a high premium last year). MoneyGram’s management… Read More

Read more in: Blockchain & Digital Assets, Fintech, Global | Tagged cross-border payments, digital payments, global money transfer, kamila chytil, moneygram, odl, On-Demand Liquidity, ripple, xrp