Tagged: remittances

June 11, 2023 @ 12:03 pm By Omar Faridi  |  

Netbank, the banking as a service platform, has launched a service that allows international remittance companies to facilitate overseas remittances into the Philippines. The market for Philippine Peso remittances “is huge since there is a large number of Filipino migrant workers all around the globe.”… Read More

May 2, 2023 @ 9:52 am By Omar Faridi  |  

Revolut has reportedly made its initial entry into Latin America with a launch in Brazil. Revolut‘s global account will provide local consumers with foreign exchange and remittance capabilities in 27 different currencies, along with having a payment card that is accepted in over 150 nations…. Read More

March 30, 2023 @ 12:36 pm By Omar Faridi  |  

Bitso, the cryptocurrency-powered financial services company in Latin America, surpassed more than $3.3 billion in transactions between the United States and Mexico in 2022 through its Crypto 4 Business service, “mainly used by remittance and payment processors.” This volume is triple the amount “processed by… Read More

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

March 9, 2023 @ 7:32 am By Omar Faridi  |  

Fifth Third Bancorp (NASDAQ: FITB) announced a definitive agreement to acquire Big Data Healthcare, a technology solutions provider for healthcare payments and remittance. This transaction “adds national healthcare revenue cycle capabilities, addressing the complex and complicated needs of clients, while building on Fifth Third’s legacy… 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 20, 2022 @ 1:55 pm By Omar Faridi  |  

Galileo Financial Technologies, LLC, a financial technology company owned and operated independently by SoFi Technologies, Inc. (NASDAQ: SOFI), announced that its API-enabled financial technology powers Pomelo, a new charge card that “allows families in the U.S. to build and extend their credit access abroad without… 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

September 27, 2022 @ 10:30 pm By João Vitor Menin  |  

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

August 18, 2022 @ 7:38 pm By Omar Faridi  |  

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