Tagged: international payments

January 13, 2021 @ 5:55 pm By Omar Faridi  |  

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

January 10, 2021 @ 11:08 pm By Omar Faridi  |  

Personal finance specialist Joyce Chou notes that there are ways to send money during times of need even when you might not have enough cash in your savings or checking account. Chou writes in a blog post published by Remitly, a cross-border payments service, that… Read More

January 5, 2021 @ 8:00 am By Omar Faridi  |  

Erik Kaju, Director of Engineering, Cards and Spend at Fintech firm TransferWise, notes that after the introduction of the money transfer service’s debit Mastercard back in 2018, they’ve taken the card to more than 30 countries on four different continents. TransferWise claims that more than… Read More

December 13, 2020 @ 6:55 pm By Omar Faridi  |  

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

December 11, 2020 @ 7:19 pm By Omar Faridi  |  

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

December 10, 2020 @ 7:49 am By Omar Faridi  |  

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

December 1, 2020 @ 7:37 am By Omar Faridi  |  

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

November 27, 2020 @ 4:14 pm By Omar Faridi  |  

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

November 26, 2020 @ 8:56 am By Omar Faridi  |  

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

November 14, 2020 @ 2:52 pm By Omar Faridi  |  

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

November 9, 2020 @ 12:52 pm By Omar Faridi  |  

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

November 7, 2020 @ 11:09 am By Omar Faridi  |  

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

November 6, 2020 @ 11:00 am By Omar Faridi  |  

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

October 22, 2020 @ 2:44 pm By Omar Faridi  |  

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

October 8, 2020 @ 3:08 pm By Omar Faridi  |  

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

October 5, 2020 @ 9:04 am By Omar Faridi  |  

UK-based Fintech firm Currensea has introduced a new product for small businesses. The company is offering a debit card for SMBs that aims to leverage the benefits of Open Banking, so that it’s easier to carry out digital transactions. Currensea’s debit card allows SMEs to… Read More

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