Tagged: transfers

Fintech Unicorn Transferwise Adds Malaysia to its Growing List of Countries Where its Service is Available

Transferwise, a breakout Fintech hit, has added Malaysia to its list of countries where it offers its currency transfer services. According to a blog post, last year, Malaysia’s international money transfers grew 23.3%, to RM 41 billion (USD $9.9 billion). But most of these transfers… Read More

Malaysia to Strengthen AML and Counter Terrorism Financing Framework By Imposing $6,000 Limit on Cash Transactions

Malaysia is reportedly planning to impose a $6,000 limit on cash transactions next year, according to the deputy governor of the nation’s central bank. The restrictions on cash payments is being placed in order to reduce the number of illicit financial activities. The limit on… Read More

Boston-based Fintech Flywire Develops Cross-Border Payments Solution for Bank of America

Boston, Massachusetts-based Flywire, a Fintech firm focused on solving complex payment problems globally and locally, revealed that it has developed a new international payments solution for Bank of America (BoA).  The new payment system has been specifically designed to streamline international transactions for BoA’s corporate… Read More

Australia Report Shows How Banks Gouge, and Fintechs May Provide a Better Service, When it Comes to International Money Transfers

Australia is a smaller market by population but it is also a country that has embraced Fintech innovation. The emerging Fintech sector is assisted by a supportive government that has recognized its important role in fostering change that is beneficial to both consumers and business…. Read More

InstaReM Recognized by Australian Competition & Consumer Commission for Cost Effective Money Transfers

InstaReM is out with a note regarding a report published by the Australian Competition & Consumer Commission (ACCC) on cross border payments/money transfers. Ther ACCC report notes that while most consumers continue to use the big four banks in Australia to move their money, Instarem… Read More

Money Transfer Fintech Azimo Reports Profitability, Former PayPal Exec Selected as CEO

Money transfer Fintech Azimo says it has reached profitability, according to a release. Azimo apparently turned the corner in Q2 of this year. Azimo states that has grown 60% year over year as of the end of June. The growth was fueled in part by… Read More

Venmo Speeds Up Money Transfers. But Will It Be Able to Compete with “FedNow”?

Popular money transfer service Venmo is polishing its money movement cred today. In a blog post, Venmo claims it will transfer your money in “minutes.” Venmo states: “This may sound familiar- and it is. Last year we launched Instant Transfer via debit card, allowing users… Read More

SWIFT-FAST Trial Settles Intercontinental Payments with Singapore in Under 25 Seconds

SWIFT, the company behind the world’s largest electronic payments system, has executed cross-border payments between 7 corresponding countries -Australia, China, Canada, Luxembourg, The Netherlands, Singapore and Thailand- and Singapore, in less than 25 seconds. The trial integrated SWIFT’s gpi Instant network and Singapore’s domestic instant… Read More

African Journalist Considers Whether Facebook Libra Coin a Boon for Africa

African technology journalist Andile Masuku has written that corruption around remittances in Africa is so bad, “I have become numb to the daylight robbery that ensues whenever I receive money from abroad or send cash to my family back home.” Masuku cites figures from the World… Read More

Frente Corretora de Câmbio Wants to Become the Transferwise of Brazil by Using Ripple

Frente Corretora de Câmbio, a Brazilian money transfer and remittance platform, wants to become the “Transferwise of Brazi” by leveraging Ripple to provide low-cost transfers. According to a report in Exame, Frente is the 15th largest currency brokerage in the country. Frente wants to be in… Read More

FCA Licensed e-Money Institution Paysend Plans Stablecoin on Stellar

Paysend Group, an FCA licensed e-Money institution, is planning to issue a stablecoin in June. Paysend is using Stellar to provide the crypto that will allow its users to send instant global payments without the traditional cross-border fees. Paysend notes that Stellar was designed expressly… Read More

Apple Pay Streamlines Money Transfers to TD Ameritrade

Brokerage TD Ameritrade has partnered up with Apple (NASDAQ:APPL) to provide a streamlined money transfer. As of today, individual investors may instantly transfer funds to their brokerage account via Apple Pay and Apple Business Chat using iMessages. In a release, TD Ameritrade explained that historically… Read More

Money Transfer Fintech TransferGo Gets $17.5 Million in Funding

London based Fintech TransferGo has closed on a Series B funding round in the amount of $17.5 million according to the company. The funding was led by Vostok Emerging Finance and Hard Yaka from Silicon Valley. Revo Capital, U-Start Club and Practica Capital also participated… Read More

P2P Money Transfer Service Toss Gets Unicorn Status in $80 Million Funding Round

Korea based Viva Republica, creator of the peer to peer money transfer service Toss, has raised $80 million led by some pretty big names. VCs Kleiner Perkins and Ribbit Capital led the funding round. The investment has delivered unicorn status for the Fintech as the… Read More

LeoPay’s customers say their accounts were closed without warning after Malta bank freeze

Customers of Leopay have been left unable to access money stuck in their accounts after the Maltese authorities froze activities at a bank co-owned by the Leopay’s founder Christo Georgiev, the Financial Times reported. Clients of the London based payments and transfer firm started filling reports… Read More

Money Transfer Fintech WorldRemit Integrates with WhatsApp

WorldRemit, a UK based Fintech in the digital money transfer sector, has integrated with WhatsApp – one of the most popular messaging services in the world. WorldRemit says that customers in over 145 countries may now receive WhatsApp notifications about their money transfers in real… Read More

Digital Money Transfer Service Azimo Added to Sunday Times Hiscox Tech Track 10

Fintech Azimo, a European money transfer service, has has been added to the Sunday Times Hiscox Tech Track 100 list joining a prominent list of UK tech firms including some big names in Fintech. This is the first year for Azimo to be added to… Read More

Global Remittance Company TransferGo Forms New Partnership With Identity Verification Provider Onfido For Money Transfer Service

Identity verification provider Onfido has formed a partnership with global remittance company TransferGo to help verify the identities of TransferGo’s users.  TransferGo currently offers transfers between nearly 50 countries and recently claimed to be the first remittance company to offer a cryptocurrency trading facility with… Read More

Opal Transfer Launches New Money Transfer Service Between Italy and the UK

London based Opal Transfer has launched a new money transfer service between Italy and the UK. This is an extension of the existing product – money transfer service from the UK to Italy. Opal says it has one of the lowest cost transfer products on… Read More

WorldRemit Adds Hungary to List of Countries Users May Transfer Money

Mobile first digital money transfer service WorldRemit has launched instant money transfers to Hungary. The new service lets anyone in over 50 countries send remittances directly to bank accounts in Hungary in a safe, quick and convenient way, using the WorldRemit app or website. WorldRemit’s digital model allows migrants… Read More

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