Tagged: international payments

September 19, 2020 @ 4:12 pm By Omar Faridi  |  

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

September 13, 2020 @ 4:48 pm By Omar Faridi  |  

Marcus Treacher, the SVP of Customer Success at American Fintech Ripple, notes that the world’s cross-border payments market is highly fragmented. But he claims that international transactions are now being redefined by “the power of ISO standardization” and the innovative technology approach of RippleNet, which… Read More

September 10, 2020 @ 8:24 am By Omar Faridi  |  

Prominent digital bank Revolut has reportedly launched services in Japan, as it continues to move forward with its ambitious global expansion plans. The Fintech Unicorn had first acquired a license to offer services in the country back in 2018. Revolut’s management confirmed that its services… Read More

August 30, 2020 @ 3:27 pm By Omar Faridi  |  

BABB (Bank Account Based Blockchain), an FCA authorized payment institution, aims to make it easier and cheaper to send cross-border payments. The company uses the latest technology to “bypass” traditional banking networks and costly third-parties to facilitate international fundraising and peer to peer (P2P) transactions…. Read More

August 29, 2020 @ 2:36 pm By Omar Faridi  |  

London-based SatoshiPay, a Fintech firm that aims to provide fast and affordable payment solutions, has revealed that it has reached a key milestone in establishing its blockchain-enabled clearing platform as a “new standard” for cross-border transactions. The SatoshiPay team notes that, as of August 2020,… Read More

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

August 19, 2020 @ 10:36 pm By Omar Faridi  |  

Fintech firm FXPress Payment Services revealed on August 18, 2020, that it will be acquiring Avila House Ltd, which is subject to regulatory approval. Avila House is a licensed Small Electronic Money Institution. FXPress Payment Services Ltd is authorized and regulated by the UK’s Financial… Read More

August 12, 2020 @ 11:22 am By Omar Faridi  |  

London-based Fintech firm Vitesse, which enables real-time cross-border payments, revealed on August 11, 2020 that it has secured £6.6 million in capital through a Series A investment  round. The firm’s funding round was led by Octopus Ventures. Existing shareholders Hoxton Ventures and several other angel… Read More

August 7, 2020 @ 8:21 am By Omar Faridi  |  

The global payment industry and ecosystem has been growing steadily. The sector is projected to be valued at $2.7 trillion by 2023. Some of the challenges faced by the payment industry include high transaction fees, inefficient cross-border transactions, poor or lack of interoperability between different… Read More

August 4, 2020 @ 7:39 am By Omar Faridi  |  

San Francisco based Fintech firm Ripple has released its quarterly XRP Markets Report. The company notes in its report, that as an XRP holder, Ripple “believes proactive communication and transparency are part of being a responsible stakeholder.” During Q2 2020, total XRP sales were valued… Read More

August 2, 2020 @ 10:15 pm By Omar Faridi  |  

UK-based Fintech and stealth bank TransferWise recently revealed that it has taken an “exciting” step towards modernizing and streamlining global banking in Asia. The company confirmed that it has brought TransferWise for Banks, its “bank-friendly” API integration, to Asian markets, allowing financial institutions to surface… Read More

August 1, 2020 @ 12:30 pm By Omar Faridi  |  

Qolo, which aims to serve as the B2B payments hub for the “New Economy,” and moneycorp, a foreign exchange and cross-border payments provider, recently announced the launch of an integrated foreign exchange (FX) payment solution. As noted in a release shared with CI: “Global businesses,… Read More

July 29, 2020 @ 10:35 pm By Omar Faridi  |  

Kelvin Lee, the Southeast (SE) Asia head for Fintech firm Ripple, notes that the more businesses that begin supporting and integrating PayID into their platforms, the better off the digital payments ecosystem will be. Ripple, which is leading the Open Payments Coalition (OPC), is reportedly… Read More

July 26, 2020 @ 8:00 pm By Omar Faridi  |  

  We recently caught up with Sky Guo, a founding member at the OMFIF Digital Monetary Institute, the global central banking think tank that assists policymakers with understanding central bank digital currencies (CBDCs). Guo, who’s also the founder of Cypherium, which focuses on enabling interoperability… Read More

July 15, 2020 @ 10:50 pm By Omar Faridi  |  

The emergence of new Fintech industry participants such as the Facebook-led Libra project have made it clear that the existing, global cross-border payments system can be improved. A Bank for International Settlements (BIS) committee report on Payments and Market Infrastructure (CPMI) has noted that countries… Read More

July 9, 2020 @ 11:42 pm By Omar Faridi  |  

Bitso, one of Latin America’s largest digital asset exchanges, has reportedly reached 1 million users before its planned launch in Brazil. Santiago Alvarado, director of international payments at Bitso, recently talked about how cryptocurrencies might help with settling cross-border transactions in Latin America. Alvarado, whose… Read More

June 28, 2020 @ 7:25 pm By Omar Faridi  |  

UK-based Fintech TransferWise says its partnership with digital bank N26 continues to grow, with the money transfer service now helping the challenger’s customers to send funds to even more countries, including Brazil, Mexico, Singapore, the Philippines, among others. As mentioned on the Fintech firm’s website:… Read More

June 26, 2020 @ 12:15 am By Omar Faridi  |  

Fintech firms based in India and the United Arab Emirates (UAE) plan to continue working cooperatively in order to address key socio-economic changes and challenges resulting from the global COVID-19 outbreak. India and UAE’s financial hub Dubai aim to stay on top of major changes… Read More

June 21, 2020 @ 6:28 pm By Omar Faridi  |  

Asian Fintech firm BigPay announced on June 19, 2020, that it has added Australia and Vietnam to its global remittance service, and will be adding China soon. The company added Bangladesh and India in January of this year. BigPay’s management noted that they’re committed to… Read More

June 18, 2020 @ 8:05 am By Omar Faridi  |  

Nick Catino, head of policy and campaigns (Americas) at Fintech firm TranserWise, recently discussed how the remittance rule affects the company’s pricing model. The Consumer Financial Protection Bureau, an agency of the US government responsible for consumer protection in the financial sector, has published the… Read More