Tagged: transfers

June 6, 2025 @ 3:23 pm By JD Alois  |  

Wise (LSE:WISE), a leading UK-based Fintech, published annual results this week, showing a 23% increase in cross-border volume to £145.2 billion, driven by customer growth and greater adoption of the Wise account. Wise started as a platform for transferring money globally, aiming to be a… Read More

May 28, 2025 @ 4:00 pm By JD Alois  |  

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

April 2, 2025 @ 6:49 pm By JD Alois  |  

As of April 1, 2025, the Zelle App is no more. Zelle, created by a consortium of financial institutions, has announced that individuals using the stand-alone app must now sign up with one of the over 2200 banks and credit unions in the US that… Read More

March 18, 2025 @ 12:13 pm By JD Alois  |  

While certain sectors of Fintech have dipped in interest when it comes to capital markets activity, payments continue to be a hot sector of Fintech. According to S&P Global Market  Intelligence, capital markets continue to support payments innovators as technology is changing the way we… Read More

February 27, 2025 @ 9:06 am By Omar Faridi  |  

The European Payment Study by management and technology consultancy BearingPoint reveals shifts in payment behavior across European countries. While cash usage continues to dominate transactions in German-speaking countries, it is “steadily declining across the continent.” In Germany, Austria, and Switzerland, cash remains the “most frequently… Read More

February 25, 2025 @ 7:31 pm By Omar Faridi  |  

Brex, the spend platform for businesses from startups to enterprises,  announced its enterprise business grew revenue “80%, while net revenue retention was nearly 140% YoY.” This past year, Brex’s overall revenue growth reportedly “grew threefold with net revenue retention up 15 points.” Brex now serves… Read More

February 21, 2025 @ 7:40 am By Omar Faridi  |  

Finzly, a payments and financial solutions provider, announced that Live Oak Bank has enhanced its commercial and small business banking services by implementing Finzly’s Fedwire solution, achieving “100% straight-through processing (STP).” This move streamlines payment processing and positions the bank “to meet the upcoming ISO… Read More

February 21, 2025 @ 6:36 am By Omar Faridi  |  

Thunes, which claims to be the “Smart Superhighway” to move money around the world, announced the expansion of its Direct Global Network into Taiwan. This expansion brings Thunes’ Pay-to-Banks payment capabilities to Taiwan, enhancing the company’s cross-border payment services in “one of Asia’s most technologically… Read More

February 20, 2025 @ 3:38 pm By JD Alois  |  

Remitly (NASDAQ: RELY), a payments and transfers Fintech, reported Q4 earnings results yesterday and the company said that it generated “record” revenue of $351.9 million an increase of 33%. At the same time, Remitly booked a net loss of $5.7 million, an improvement over Q4… Read More

February 12, 2025 @ 9:59 pm By Tony Zerucha  |  

In 2024, Zelle reached 151 million enrolled users and helped American consumers and small businesses send more than $1 trillion. The total dollar amount sent on the platform increased 27% from 2023, while Zelle’s transaction volume totaled 3.6 billion, a 25% increase from the prior year. Zelle’s 151 million consumer and small business accounts… Read More

February 5, 2025 @ 10:30 am By Tony Zerucha  |  

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

January 31, 2025 @ 1:45 pm By JD Alois  |  

Yesterday, the Consumer Financial Protection Bureau (CFPB) issued a statement pertaining to an enforcement action against global Fintech Wise. The action arrived with a $2.5 million penalty for the firm. The CFPB claims that Wise failed to serve consumers sufficiently as it misled US customers… Read More

January 30, 2025 @ 12:38 pm By JD Alois  |  

Global payments and transfers Fintech Wise says it has entered Mexico to provide services. Wise said it would enable Mexicans to send money internationally while bolstering the financial corridor to the US. As well, Wise will support 40 different currencies and 160 different countries via… Read More

January 7, 2025 @ 9:46 am By JD Alois  |  

Global Fintech Wise (LSE:WISE)says it wants to boost the utilization of its services in North America as well as Brazil and the EMEA [Europe, the Middle East and Africa]. Best known for its near instantaneous transfer and payments platform, Wise also offers multiple neobanking services…. Read More

December 17, 2024 @ 11:00 am By JD Alois  |  

Morgan Stanley (NYSE:MS) has decided to partner with Wise (LSE:WISE) to improve international transfers. Wise is a UK-based Fintech or neobank that started as a low-cost provider of payments and transfers and now offers additional banking features. Morgan Stanley is a prominent investment bank and… Read More

November 21, 2024 @ 7:33 am By JD Alois  |  

The Consumer Financial Protection Bureau (CFPB) has announced final rules for non-bank digital payments and transfers. The payments sector of Fintech is one of the hottest segments of innovation, as users have quickly adopted digital wallets and more efficient payment methods. The CFPB’s move is… Read More

November 12, 2024 @ 8:23 pm By Omar Faridi  |  

Thunes, which claims to be the Smart Superhighway to move money around the world, today welcomed Papara, Turkey’s fintech company, as a Member of its Direct Global Network, and allies to facilitate cross-border payments to and from Türkiye. This empowers Papara clients in Turkey, allowing… Read More

September 4, 2024 @ 12:17 pm By JD Alois  |  

The UK Payment Systems Regulator (PSR) has updated the status of APP scam protections. APP scams incorporate digital fraud, where users of financial or transactional Apps send money to bogus sites or fraudsters.  The PSR says that in 2023, there were over 250,000 cases of… Read More

August 29, 2024 @ 11:35 am By JD Alois  |  

dLocal and Grey have announced a partnership to pursue payments and transfers in emerging markets. Grey is a US start-up focused on providing global cross-border payments across the US, UK, Europe, Asia, and Africa. dLocal targets connecting merchants with consumers in Africa, Asia and Latin… Read More

August 5, 2024 @ 12:32 pm By JD Alois  |  

The Monetary Authority of Singapore (MAS) has announced a consultation on transfers to the People’s Republic of China (PRC), including the current suspension of “non-specified channels.” The suspension, pertaining mostly to PRC nationals working in Singapore, is in regard to accounts and funds that were… Read More