Tagged: remittances

Digital Transformation: Microsoft Azure Cloud Platform to be Used by Canadian Imperial Bank of Commerce

The Canadian Imperial Bank of Commerce (CIBC) (TSE: CM), a multinational banking and financial services corporation headquartered in Toronto, Ontario, has entered a multi-year deal to use Microsoft Azure as its main Cloud platform. The partners noted in the announcement that Microsoft Azure should help… Read More

BigPay Is Focused on Expanding Operations into Thailand, Following AirAsia’s Acquisition of Gojek’s Thai Division

BigPay is focused on expanding its business operations into Thailand after Airasia’s acquisition of Gojek’s Thailand division via its digital unit in a deal valued at RM208 million (appr. $50 million). This move has been announced ahead of AirAsia‘s plans to offer a Super app… Read More

Pipit, Cellulant Deal to Lower African Remittance Rates

A new partnership announced this week between Pipit Global and Cellulant promises to provide Africans living abroad with a cheaper option to send money back home. The agreement allows people in Nigeria, Kenya, Uganda, Tanzania, Mali, Senegal, and Ghana to transact on Pipit Global at… Read More

Digital Cross-Border Remittance Growth Expected

Digital cross-border remittances are set to increase by 133 billion over the next five years, a new report from Juniper Research reveals. Digital Money Transfer & Remittances: Vendor Strategies, Opportunities and Market Forecasts 2021-2025 Market Research suggests growth will foster competition as players seek to… Read More

eRemit Singapore, a Digital Remittance Platform, Partners Hong Leong Assurance Singapore to Offer Migrant Worker Insurance Package

eRemit Singapore, a digital remittance service platform that’s supported by Merchantrade Asia and QALA Tech, has teamed up with Hong Leong Assurance Singapore (HLAS) in order to provide a new insurance scheme for migrant workers based in Singapore. The eRemit Singapore’s Salary Protector Scheme has… Read More

Remittance and Wallet App SendSpend Acquires E-Money Institution License from UK’s FCA

SendSpend, the remittance and wallet app, reveals that it has acquired the Electronic Money Institution (EMI) license from the UK’s Financial Conduct Authority (FCA). The company will now be able to issue digital money and offer cross-border remittance services from its UK head offices. SendSpend… Read More

El Salvador Might Make Bitcoin (BTC) Legal Tender, but Transactions with the Crypto are Too Costly and Slow

El Salvador is reportedly looking to become the first nation in the world to adopt Bitcoin (BTC) as legal tender. El Salvador’s government might introduce legislation that could potentially make it the first country to adopt BTC as legal tender, along with the US dollar…. Read More

UK Fintech Wise Introduces Remittance Payments Services in India, as Company Expands Operations with Mumbai Office

UK-based Fintech firm Wise (formerly doing business as TransferWise) has introduced remittance services in India, as the company looks to expand its operations globally with a new office in Mumbai. This move by London-headquartered Wise has come after the company began supporting Google Pay users… Read More

Instant Money Transfer Fintech Spoko.app Partners Sumsub, an ID Verification Firm

Instant money transfer Fintech Spoko.app reveals that it has teamed up with Sumsub, an ID verification firm that claims to offer bank-grade security. Through their partnership, Spoko.app will aim to enhance fraud protection and lower average user verification time down to a minute, in order… Read More

Digital Payments in Middle East Markets like Oman Continue to Rise as Consumers Engage with E-Commerce Platforms

Dr. Saeeda Jaffar, Board Member, Managing Director and Head of Middle East at Alvarez & Marsal, notes that research performed by Checkout.com at the end of last year suggested that digital commerce and the digital payment sectors in the Middle East region were “set for… Read More

Moving Money in 2021 Should be Like Sending an E-mail – Instant, According to Nick Catino from Cross-Border Payments Fintech Wise

Nick Catino, who is responsible for Policy, Campaigns, and Regulatory Strategy at Wise (formerly TransferWise), notes that payments are the part of finance that consumers experience “most on a day-to-day basis.” Catino also mentioned that there are certain important initiatives that will help “ensure the… Read More

Cross-Border Payments Fintech Tranglo Continues to Expand Operations Globally to Support Local Businesses

Malaysia-based Tranglo, a cross-border payment firm, has established four new payment channels that are connected to financial networks in Brazil, Ghana, Nigeria, and Uganda. The payment corridors mark the Fintech firm’s first entry into Sub Saharan Africa and Latin American (LatAm) regions. Tranglo’s management stated… Read More

Remittance Payments have been Too Costly for Malaysian Consumers, with Many Giving Up on them Completely: TransferWise Survey

A survey performed by UK-based TransferWise, a leading online money transfer service, has provided insights on how the Coronavirus crisis has impacted consumer behavior, particularly how remittance payments are handled by individuals residing in Malaysia. The survey revealed that approximately 50% of people in Malaysia… Read More

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

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

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

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