Tagged: international payments

UK Fintech TransferWise Now Supports Transactions with Hungarian forints Directly to Customer Accounts

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

Cross-Border Payments are on the “Cusp of Transformation” According to Executive from Fintech Ripple

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

Digital Bank Revolut Introduces Services in Japan, Claims it Signed Up 10,000 Locals, After Acquiring License in 2018

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

Fintech BABB, an FCA Authorized Payment Service Provider, Aims to Make it Faster, Cheaper to Send Money, Now Raising Funds via Seedrs

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

London Fintech SatoshiPay Reveals How they’ve Leveraged Blockchain or DLT to Process Real-Time Micropayments for Online Publishers

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

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

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

Fintech Firm FXPress, a Forex Specialist, to Acquire Avila House so it Can Offer Accounts for Depositing, Holding, Transferring Funds

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

Fintech Firm Vitesse, which Supports Real-time Cross-Border Payments, Acquires £6.6 Million in Capital via Series A Round

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

Global Payment Sector to Reach $2.7 Trillion in Value by 2023, with Blockchain or DLT Increasingly Being Used by Cross-Border Payment Solutions: Report

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

Fintech Ripple Sold Over $32 Million in XRP During Q2 2020, Only Sold $1.75 Million of the Digital Asset During Q1 2020: Report

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

Fintech Unicorn and Stealth Bank, TransferWise, Brings API powered Cross-Border Banking Solutions to Asian Markets

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

B2B Payments Hub, Qolo, Partners with Cross-Border Payments Provider, moneycorp, to Launch FX Payment Solution

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

Fintech Ripple Southeast Asia Head Kelvin Lee Explains how PayID Serves as an Effective Solution for Cross-Border Payments

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

Sky Guo, Founding Member at OMFIF Digital Monetary Policy Institute, Explains why Interoperability Is an Important Aspect of Central Bank Digital Currencies, or CBDCs

  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

Cross-Border Payments and Market Infrastructure Report from BIS Says Current Challenges with International Money Transfers will be Addressed at G20

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

Fast Pace of Cryptocurrency Adoption in Latin America May be due to Dramatic Rise in Smartphone Users, Bitso Executive Reveals

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

UK Fintech TransferWise and Digital Bank N26 Now Helping Consumers in Brazil, Mexico, Singapore, the Philippines with Fast, Cheap Cross-Border Payments

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

India Remains a “Crucial” Market for the Dubai International Financial Center, Salman Jaffery, Chief Business Development Officer at DIFC Says

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

Malaysia: Fintech BigPay Adds Australia and Vietnam to Global Remittance Service, will Add China Soon

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

Consumers Losing Billions in Hidden Remittance Payments Costs, Nick Catino from Fintech TransferWise Reveals

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

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