Tagged: remittance payments

Fintech Sector in Brunei Is Growing Steadily as Demand for Remittance Services and Better Credit Solutions Rises: Report

Fintech

Brunei’s Fintech sector continues to grow steadily due to the rising demand for digital financial services and its government’s push to encourage its residents to use modern payment methods. Brunei has the second-highest (after Singapore) human development index or HDI (which measures the overall quality… Read More

Fintech Firm Lightnet and Siam Commercial Bank to Support Cross-Border Payments from South Korea to Thailand

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

Global Money Transfer Service Azimo and Payments Fintech dLocal to Facilitate Remittances from Europe, Australia to Colombia

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

Mercurity Fintech Holding, a Blockchain focused Cross-Border Payments Firm, Reports Q3 2020 Losses, Launches DeFi Platform

Mercurity Fintech Holding Inc., which leverages blockchain or distributed ledger technology (DLT) to assist businesses with conducting “instant” cross-border transactions and remittance payments (through banks or financial institutions), has released its third-quarter 2020 financial results (for the period ending September 30, 2020). Mercurity reports (generally… Read More

TransferWise Customers in Indonesia Can Now Send Remittance Payments to 80 Different Countries

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

Patricia Montesi: CEO at Qolo Explains how Fintech Firm’s B2B Payments Platform Is Helping Companies Settle Cross-Border Transactions

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

Dubai based Fintech Rise Launches New Platform for Affordable Remittance or Cross-Border Payments

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

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

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

Fintech Ripple Is Focused on Making Digital Payments as Easy as Sending Emails with Pay ID, According to Company Executive

Emi Yoshikawa, Head of Global Operations at American Fintech firm Ripple, notes that when sending an email, she doesn’t really think about which country the person or recipient of the message is living in at the moment. Yoshikawa points out that she also doesn’t have… Read More

Malaysian Fintech Valyou Introduces Blockchain based Remittance Service for Bangladeshi Workers Sending Money Back Home

Malaysia-based Fintech Valyou, a digital remittance payments service provider, has introduced a blockchain-enabled remittance solution in Bangladesh through a partnership with Standard Chartered and bKash, a mobile financial service provider. The distributed ledger tech (DLT)-powered platform will enable instant money transfers from Malaysia to Bangladesh…. Read More

Global ID Verification Provider, Onfido, to Offer Authentication Services to Malaysia’s MyCash Money

Onfido, a global ID verification provider, will be offering its user authentication services to Malaysia’s MyCash Money. Onfido has also been providing similar services to other Fintech firms in the region, including BigPay and MoneyMatch. MyCash Money is a digital marketplace that’s focused on serving… Read More

Chainalysis Confirms Venezuelans are Increasingly Using Bitcoin and other Cryptos for Remittance Payments, as Bolivar is Useless

Venezuela is experiencing one of the worst economic crises in history. The South American country’s national currency, the Bolivar, has become practically worthless due to extremely high levels of hyperinflation (about 10,000,000% during 2019). Venezuela’s residents are also suffering due to serious socioeconomic challenges, as… Read More

Southeast Asian Fintech TrueMoney Partners Singapore Cross-Border Payment Provider Thunes to Expand Remittance Services

TrueMoney, a Southeast Asian Fintech firm, has teamed up with Singapore-based Thunes, a cross-border payment company, in order to expand its remittance services. Through the partnership, TrueMoney customers will be able to accept remittance payments from anywhere in the world via Thunes’ international partner network,… 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

Digital Asset Exchange Bitso Aims to Capture 20% of Remittance Market from US to Mexico

Digital asset exchange Bitso managed to capture a little more than 2% of the remittance market from the United States to Mexico in 2019 and now aims to gain a 20% market share by the end of this year. Established in 2014, Bitso experienced significant… Read More

World’s Most Valuable Fintech Ant Financial to Power Pakistan’s New Blockchain-based Payments Service

Ant Financial, an affiliated company of the Chinese Alibaba Group, is reportedly running the first international blockchain-powered payment service in Pakistan. This is a major milestone in the Asian nation’s journey to enable greater financial inclusion. Ant Financial is notably the world’s highest-valued Fintech firm,… Read More

London-based Paysend Launches Global Money Transfer Service in Australia

London-headquartered Paysend, an international funds transfer company, has confirmed the launch of its money transfer services in Australia. Paysend’s services can now be used in the $1.3 trillion economy to send funds to companies located abroad. The firm said that China, India, and Vietnam are… Read More

Ripple Partners with Nasdaq-Listed Remittance Firm International Money Express (Intermex)

Ripple, a San Francisco-based Fintech firm,  has confirmed its new partnership with International Money Express (Intermex), a Nasdaq-listed remittance company. Intermex will reportedly be using Ripple’s On-Demand Liquidity (ODL) solution, which uses XRP, the world’s third-largest digital asset by market cap, to conduct cross-border transactions…. Read More

MoneyGram Partners with Suez Canal Bank to Help Egyptian Expats Conduct Remittance Payments

MoneyGram International, Inc. (NASDAQ: MGI), a leading international peer-to-peer (P2P) payments and money transfer service provider, revealed on January 23 that it has teamed up with the Suez Canal Bank, an established financial institution that will allow MoneyGram clients to send funds directly to the… Read More

Western Union Partners with India’s Airtel Payments Bank to Process Remittance Services

Leading multinational payments firm Western Union (NYSE: WU) has teamed up with established India-based Airtel Payments Bank, in order to process remittance services. The partnership will allow Airtel Payments Bank clients to direct Western Union transactions into their individual bank accounts via the banking section… Read More

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