Remittance Fintech LemFi has acquired Pillar. Pillar’s co-founders and Revolut alumni Ashutosh Bhatt and Adam Lewis will join the LemFi team. The terms of the deal were not immediately available. LemFi, founded in 2021, aims to support immigrants. The company reports working with over two… Read More
Read more in: Fintech, Global | Tagged lemfi, payments, pillar, remittances, uk, united kingdom
The Financial Technology Association (FTA) has told Senate members not to tax remittances nor include citizenship verification as part of the anticipated reconciliation bill. The FTA said that it was joined by six other associations asking the Senate not to “harm hardworking Americans, including active… Read More
Read more in: Opinion, Politics, Legal & Regulation | Tagged fta, payments, remittances, transfers
Careem Pay, the fintech arm of the Careem Everything App, has introduced a new international money transfer service to Jordan. This addition to Careem Pay’s remittance network enables users to send money directly from the UAE to Jordanian bank accounts, catering to the needs of… Read More
Read more in: Asia, Fintech | Tagged careem pay, jordan, middle east, remittances, uae
This past week, SukuPay, a cryptocurrency-cross-border payments company, has been fully embedded as the remittance engine inside Zigi, the mobile app of Banco Industrial, Guatemala’s largest bank. SukuPay claims this is the first time a crypto-native protocol has gone live at this depth inside a… Read More
Read more in: Blockchain & Digital Assets, Fintech, Global | Tagged Banco Industrial, cryptocurrencies, Guatemala, Michel Caputi, remittances, SukuPay, Yonathan Lapchik, Zigi
Weixin Pay users can now receive cross-border transfers from Xoom, a PayPal (NASDAQ: PYPL) service and a digital remittances provider. This new partnership between Tenpay Global, Tencent’s cross-border payment platform, and Xoom allows Weixin Pay users to “receive money directly into their Weixin Pay Wallet… Read More
Read more in: Global, Asia, Fintech | Tagged paypal, remittances, weixin pay, xoom
dLocal, the payment platform connecting global merchants to emerging markets, announced a partnership with Belmoney, the Remittance-as-a-Service (RAAS) provider in Europe. The global remittance industry remains burdened “with high fees and slow transaction speeds.” According to the IMF, transfers under $200 incur average fees “of… Read More
Read more in: Fintech, Global | Tagged belmoney, dlocal, europe, payments, remittances
Jazari has reportedly teamed up with Bud Financial to enhance Remit Now, Pay Later services, making remittances more accessible for migrant workers. Jazari, the UK-based Fintech, is behind the ‘Remit Now, Pay Later’ platform. By integrating Bud’s AI-powered financial data platform, Jazari is set to… Read More
Read more in: Fintech, Global | Tagged bud financial, Cross-Border Transactions, jazari, migrant workers, remittances
As Open Banking becomes more popular in Latin America, Prometeo is well-positioned to be a major player in the space. Prometeo’s partners, a provider of a single API connecting businesses to every bank in 11 countries, include Santander, Bancolombia, Banco de México, and Chile’s Banco… Read More
Read more in: Featured Headlines, Fintech, Global | Tagged banking, latam, latin america, open banking, payments, prometeo, remittances, stablecoins, transfers, women changing finance, ximena aleman
Earlier this year, Payments Canada reportedly conducted a public consultation on proposed changes to Rule H6, which provides the framework for processing bill payment remittances via the Automated Clearing Settlement System (ACSS). The proposed changes aim to improve operational efficiency, the ability to embrace technological… Read More
Read more in: Canada, Fintech | Tagged bill payment, clearing sysystem, payments canada, remittances
DailyPay, a worktech company, is expanding globally in more ways than one. DailyPay stated that it now focused on broadening the reach of its platform by adding a new feature: International Remittances. The International Remittances feature will enable DailyPay users to send funds at the… Read More
Read more in: Fintech, Global | Tagged Cross-Border Transactions, dailypay, international payments, remittances
This week, OwlTing Group, a global blockchain Fintech company, announced plans to implement Visa Direct solutions under a global agreement with Visa to provide real-time cross-border payments for individual and business customers. This agreement allows OwlTing to potentially reach more than 8.5 billion endpoints in… Read More
Read more in: Blockchain & Digital Assets | Tagged cross-border payments, Darren Wang, Jakub Petri, OwlTing, remittances, visa, visa direct
This week, African payment technology provider Flutterwave announced the expansion of its Send App service across 49 U.S. states through a partnership with MainStreet Bank, a subsidiary of MainStreet Bancshares Inc. (Nasdaq: MNSB and MNSBP). Texas isn’t included. Flutterwave said Send App facilitates faster, easier, and more… Read More
Read more in: Global, Fintech | Tagged africa, flutterwave, MainStreet Bank, Olugbenga Agboola, remittances, Send App
SentBe is preparing to launch its individual small-scale overseas remittance service globally. The move follows the launch of SentBiz KRW Collection for businesses needing Korean Won collection and multi-currency settlements within the Korean market. Targeting those who need to send money outside of their country,… Read More
Read more in: Asia, Fintech | Tagged Alex Seong-Ouk Choi, korea, remittances, sentbe
The Monetary Authority of Singapore (MAS) recently issued a Notice to extend, for a further six months until 30 September 2024, the suspension of the use of channels that are not specifically permitted (non-specified channels by remittance companies “when transmitting money to persons in the… Read More
Read more in: Asia, Fintech, Global, Politics, Legal & Regulation | Tagged china, mas, remittances, singapore
Mastercard (NYSE: MA) released a whitepaper on the state of remittances, also known as cross-border payments, in Latin America. Remittances play a key role in strengthening financial inclusion in the region, boosting economies, and alleviating poverty –often “serving as an essential source of income for… Read More
Read more in: Fintech, Global | Tagged latin america, mastercard, remittances, research
In the face of a highly fragmented financial services landscape and varying levels of maturity across its markets, Claire Huddleston, Sales and Marketing Director at Clear Junction, explains how digitization and remittances can drive Africa’s continuing economic development. Huddleston also talks about the key economic… Read More
Read more in: Fintech, Featured Headlines, Global | Tagged clear junction, Cross-Border Transactions, interview, remittance payments, remittances
In a significant development for the remittance sector, TerraPay, a global cross-border payments network, has announced a partnership with Alfardan Exchange. Based in Qatar, Alfardan Exchange provides exchange services as well as commodities like gold and coins. This collaboration aims to leverage TerraPay’s advanced digital… Read More
Read more in: Fintech, Asia, Global | Tagged payments, qatar, remittances, terrapay
Currencycloud, the Fintech firm focused on simplifying business processes in a multi-currency environment, has teamed up with UK-headquartered Fintech company, TangoPay to improve its remittance service for its UK-based expat clients. This enhancement will be achieved by introducing real-time competitive foreign exchange (FX) rates along… Read More
Read more in: Global, Fintech | Tagged aleks stefanovski, basir sangerwal, currencycloud, europe, fintech adoption, fintech trends, payments, remittances, tangopay, uk, united kingdom
Ebury, one of the largest fintech companies specializing in transactions for SMEs, announced its partnership expansion with Nium, the enabler of real-time global payments, to deliver a groundbreaking global remittance service in Brazil. The announcement follows regulatory “approval of Ebury’s acquisition of Brazilian fintech Bexs,… Read More
Read more in: Fintech, Global | Tagged brazil, ebury, fintech adoption, fintech trends, nium, payments, real-time payments, remittances, smbs, sme's
Viamericas Corporation, which claims to be a licensed, international remittance company, recently has integrated with 24Xoro in order “to provide additional options for remittance beneficiaries to receive money in Mexico, providing Viamericas customers more options and locations for their remittance recipients to receive their money.”… Read More
Read more in: Fintech, Global | Tagged joseph argilagos, mexico, nicolás noriega, north america, remittance payments, remittances, viamericas, viamericas corporation
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