Tagged: remittances

European Commission Welcomes Joint Statement to Provide Accessible Remittance Services to Ukraine

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

Digital Remittances Market Enjoys Significant Boost Amid After-effects of Covid-19

When COVID-19 cases first appeared in late 2019, its contagion abilities were wildly unanticipated by world leaders, and it was ungracefully downplayed by mainstream media. This caused a subsequent uncontrollable outbreak that eventually dampened the quality of life for billions and dented economies across the… Read More

Future Fintech Labs to Provide Currencycloud Remittance App to Immigrants in the US

Currencycloud, a Fintech firm focused on simplifying business in a multi-currency environment, has partnered with Future FinTech Labs (FTFT Labs) in order to introduce the remittance app Tempo, which provides US-based immigrants a secure and cost-effective way to send funds. Tempo facilitates fund transfers to… Read More

Fintech BigPay Now Supports Remittance Corridors in 38 Nations Across Europe, UK

BigPay, a Capital A venture firm, recently revealed that it has added 38 new countries to its global remittance services network. This reportedly includes England, Northern Ireland, Scotland, and Wales in the UK, and 34 nations across Europe, including France, Germany, Italy, Belgium, and Spain…. Read More

Everest Teams Up with Bitso to Support Cross-Border Payments

Bitso, the cryptocurrency platform in Latin America with over 5 million users, and Everest, the “first” licensed crypto custodian offering stablecoins, announced their partnership to provide Everest users “with the ability to receive cross-border transactions from the US, Europe, and Singapore into Mexico.” The Mexico-US… Read More

LatAm Digital Asset Exchange Bitso Offers Crypto Remittance Service in Colombian Markets

The Latin American digital asset exchange Bitso has introduced a cryptocurrency remittance service in Colombia. The service, which should enable individual consumers and businesses to send and receive “digital dollars,” is reportedly one of the first crypto-based remittance products offered in Colombia to date, according… Read More

Migrants Concerned about Economic Hardship, but Expect to Prioritize Sending Money Home, MoneyGram Survey Reveals

MoneyGram International, Inc. (NASDAQ: MGI), which claims to be global leader in the evolution of digital P2P payments, recently released the findings of a new customer survey detailing trends around “how families in the United States are transferring money around the world this year.” These… Read More

Bitso Reports $1 Billion in Remittances Between the US and Mexico in First 6 Months of 2022

Bitso, a Mexico-based crypto platform that claims to be the leading platform of its kind in Latin America, says it has completed $1 billion in remittances during the first 6 months of 2022. This represents 4X the same period in 2021. Currently, Bitso claims over… Read More

Fintech Ripple and FINCI Introduce Benefits of On-Demand Liquidity to Lithuania

Ripple, which claims to be the “leader” in enterprise blockchain and crypto solutions, announced a partnership with FINCI, the Lithuanian online international money transfer provider, “to deliver instant and cost-effective retail remittances and business to business (B2B) payments via RippleNet’s On-Demand Liquidity (ODL), which leverages… Read More

Rewire to Offer Financial Services to Lebara UK Clients

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

Paysend Enhances Real-Time Money Transfer Services for US Clients

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

New Billtrust Cash Application 10.0 to Provide 100% Digital Remittance Capture

Billtrust (NASDAQ: BTRS), a B2B accounts receivable automation and integrated payments company, announced the latest version of its machine learning-driven Cash Application solution. With virtual payments, non-standard remittance information and the proliferation of accounts payable (AP) portals challenging today’s accounts receivable (AR) teams, Cash Application… Read More

Rewire Welcomes $25M Investment, Plans to Add Insurance Products

Rewire, an Israeli neobank that caters to the needs of migrant workers, this week announced a $25 million strategic investment that will allow it to develop insurance products for its customer base. Israeli insurance company Migdal participated in the round along with Standard Bank of… Read More

Remittances: Sber Introduces Fund Transfers to China by Using Phone Numbers

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

Ripple, through its Payments Network RippleNet, Serves as Viable Alternative Offering Efficient Global Transfers

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

UK based Fintech Paysend Strengthens Americas Operation with Jairo Riveros as MD of the US, LatAm

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

Remittance Payments Expected to Grow Almost 5% in 2022, Paysend Reports

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

Cloud enabled Currencycloud Platform Enables Real-Time FX and Payments As Remittances Market Continues to Expand

Ned Barker, who has considerable experience in the payments sector, notes in a blog post published by UK-based cross-border payments Fintech CurrencyCloud that remittances are one of the “single most powerful financial forces in existence today, with workers sending hundreds of billions of dollars to their… Read More

Ruben Salazar Genovez from Visa Direct Predicts that Demand for Digital Remittances May Continue to Rise in Post COVID World

Ruben Salazar Genovez, Global Head of Visa Direct, notes that when he was growing up in El Salvador during the 1980s, people living in “extreme” poverty were defined as those “who spend their daily purchasing power on food and still go to sleep hungry.” Now,… Read More

UniTeller, a Remittance Payments Provider, Extends Services to APAC Clients with Assistance from Tranglo

UniTeller, a global remittance payments processor with head offices in the US, has reportedly extended its remittance services to more clients residing in the Asia Pacific by teaming up with Malaysia’s cross-border payments Fintech Tranglo. UniTeller’s partnership with Tranglo will enable UniTeller to continue expanding… Read More

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