Tagged: remittance payments

March 29, 2023 @ 8:51 pm By Omar Faridi  |  

Remittances are not only a lifeline for millions of migrant workers and their families, they are also vitally important “for the prosperity of many developing economies around the world,” according to an update from Visa (NYSE: V). As the amount of global remittance inflows continues… Read More

March 15, 2023 @ 6:45 pm By Omar Faridi  |  

Ria Money Transfer, a firm focused on the cross-border money transfer industry and business segment of Euronet (NASDAQ: EEFT), and ACLEDA Bank Plc., Cambodia’s leading retail bank, announced a partnership that “broadens cross-border money transfer services available to and from Cambodia.” This expansion of Ria’s… Read More

February 25, 2023 @ 6:38 pm By Omar Faridi  |  

Remitly Global, Inc. (NASDAQ: RELY), a digital financial services provider for immigrants and their families, announced it has expanded into the Middle East with the launch of its outbound remittance product in the UAE. Remitly has also “opened an office in the Dubai International Financial… Read More

January 18, 2023 @ 9:52 am By Omar Faridi  |  

The financial services sector has evolved considerably during the past decade, with many new Fintech startups and banking challengers raising substantial funding to fundamentally improve how consumers perform transactions. Individuals and business organizations across the globe have been moving their activities online, a digital transformation… Read More

January 16, 2023 @ 9:27 am By Omar Faridi  |  

The money transfer system Tempo France has a “positive outlook” for the dynamics of the remittances corridor between the EU and Ukraine in 2023. The company stated that the segment “would see a 5 percent shrink in annual terms in Q1 2023.” But the remittances… Read More

January 2, 2023 @ 5:01 pm By Omar Faridi  |  

Millions of consumers are offering financial support to friends and family members residing abroad. However, when it comes to getting those (remittances) to the intended recepients, it is a lot more costly than it should be, according to an update from Fintech firm Wise (LSE:WISE)…. Read More

December 14, 2022 @ 7:59 pm By Omar Faridi  |  

Currencycloud, which claim to be the experts simplifying business in a multi-currency world, has partnered with South Korea-based global remittance and payment provider SentBe in order “to improve the regional reach of its payments service and offer its Korean consumers and businesses a more streamlined,… Read More

November 23, 2022 @ 7:31 pm By Omar Faridi  |  

The international remittances company, Tempo France and the Spanish company Elsa Care Technologies (Elsa.care) have launched money transfers to the Philippines. Clients are now able “to send money through the Elsa.care’s app to the recipients’ bank accounts in this country.” The integrator of the technical… Read More

November 19, 2022 @ 6:25 pm By Omar Faridi  |  

Paysend, the UK-based fintech, introduced Paysend Libre, which will “allow unbanked users in Northern Central America (Guatemala, Honduras, El Salvador) to receive remittances from the U.S. instantly to a Paysend virtual Mastercard digital card.” The virtual card is ready “to use in minutes for cash… Read More

November 15, 2022 @ 9:05 pm By Omar Faridi  |  

Brightwell, an Atlanta-based global payments technology company, announced a new cross-border payments solution, Brightwell’s ReadyRemit, powered by The Bancorp Bank, N.A., and Mastercard’s Cross-Border Services. ReadyRemit allows fintechs, businesses and program managers “to increase revenue and loyalty by offering a user-friendly, cross-border payments solution that… Read More

October 21, 2022 @ 5:33 pm By Omar Faridi  |  

Remitly Global, Inc. (NASDAQ: RELY), a digital financial services provider for immigrants and their families in over 170 countries around the world, announced key business milestones in the Asia-Pacific (APAC) region. Remitly has expanded its global footprint “to include Japan and New Zealand. To date,… Read More

October 12, 2022 @ 10:24 pm By Omar Faridi  |  

ICICI Bank recently announced the launch of an online solution “to help its customers carry out SWIFT based inward remittances in a faster and hassle-free manner.” Named, ‘Smart Wire’, the facility allows both NRIs and resident customers “to undertake inward remittance transactions in an online… Read More

September 29, 2022 @ 8:11 am By Omar Faridi  |  

The European Commission has welcomed a Joint Statement by EU and Ukrainian financial institutions “to provide access to affordable, accessible and transparent remittance services to Ukraine.” Today, remittances from Ukrainians in the EU are “a vital way of providing means of subsistence to their families… Read More

August 30, 2022 @ 2:42 pm By Omar Faridi  |  

As the demand for cross-border payments continues to grow, Brightwell, an Atlanta-based global payments technology company, announced the availability of ReadyRemit. This comprehensive remittance engine “enables Fintechs to capitalize on the digital payments market quickly and easily, building a new revenue stream and driving customer… Read More

April 5, 2022 @ 11:57 pm By Omar Faridi  |  

Rewire, which claims to be the first digital financial services platform for migrant workers, has entered a partnership agreement with value SIM provider Lebara. The collaboration should give Rewire access to Lebara’s UK client base, the opportunity to fast-track its growth in the United Kingdom… Read More

March 9, 2022 @ 8:36 pm By Omar Faridi  |  

Paysend, the card-to-card pioneer and international payments platform, announced that its U.S. customers may send funds “directly to eligible Mastercard cards in over 60 countries, including Mexico, Guatemala, Dominican Republic, Honduras, El Salvador and Colombia, as well as within the U.S.” Recipients will generally see… Read More

February 6, 2022 @ 5:41 pm By Omar Faridi  |  

Sber has reportedly marketed money transfers to Alipay wallets in mainland China by using phone numbers. In order to make a remittance payment, users simply need to indicate the phone number and full name of the intended recipient via SberBank Online, and the funds will… Read More

January 17, 2022 @ 8:52 am By Omar Faridi  |  

The term “gray market” might conjure up images of “nefarious” actors exchanging cash in “shadowy alleys,” the team at American Fintech Ripple writes in a blog post. In reality, however, gray markets have become an “unfortunate necessity” for those entities that may lack the financial… Read More

January 15, 2022 @ 12:07 pm By Omar Faridi  |  

Paysend, the card-to-card pioneer and international payments platform, has announced the appointment of Jairo Riveros, as MD of the United States and Latin America, “effective 01 January, 2022.” Paysend has maintained an active presence in the US since September 2020 and “helps American residents securely… Read More

January 11, 2022 @ 10:02 pm By Omar Faridi  |  

The team at Paysend notes that “remittance” is defined (according to Merriam Webster) as a transmittal of money to a distant place such as another country. As noted in an update from Paysend, this transmission of money may be done via traditional money management methods like… Read More