Tagged: transfers

Fintech Wise Comments on CFPBs Pursuit of Junk Fees Pertaining to Global Transfers: Price Transparency Counts

Yesterday, CI reported on a new circular issued by the US Consumer Financial Protection Bureau (CFPB) warning international transfer firms to stop adding “junk fees” to the transfers and demanding greater transparency in the process. Misinformation in the industry is frequent, and some providers abuse… Read More

CFPB Targets Global Money Transfers and “Junk Fees”

The Consumer Financial Protection Bureau (CFPB) is now targeting international money transfers and “junk fees” that may be saddled upon users. The CFPB issued a warning to firms that provide these services regarding allegations of false claims and misinformation about the cost of transfers and… Read More

Paysend, Currencycloud Announce Global Partnership

Currencycloud says it has signed a global expansion deal with transfer Fintech Paysend. The agreement is said to enable Currencycloud to expand its reach in providing its services. Currencycloud will also be supporting Paysend on the launch of new consumer-facing products during 2024. Paysend is… Read More

Personal Remittances from Overseas Filipinos Hit All-Time High in 2023

Overseas Filipinos (OFs) sent home a record $3.6 billion in personal remittances in December 2023, marking a 3.9 percent increase from the $3.5 billion reported in the same month in 2022, according to data released by the Bangko Sentral ng Pilipinas, the central bank of… Read More

FIS Partners with Banked on Real Time Payments, Transfers

FIS (NYSE:FIS) has announced a partnership with Banked to offer a new “pay by bank” solution for both consumers and businesses. Banked, enables consumers to pay directly using their bank without entering any financial data. Last year, FIS became one of the first Fintechs to… Read More

UK Fintech Atlantic Money to Offer Fixed-Fee Money Transfers Across Additional Global Markets

UK fintech Atlantic Money is set to offer its fixed-fee money transfers across additional major markets. Within 1.5 years of launching in the UK, Atlantic Money has “met relevant requirements to offer its services in the United States, Canada and Australia.” Users will be able… Read More

Digital Asset Firm Fireblocks Adds Support of Euro, Swiss Franc, Pound Sterling, Singapore Dollar and Japanese Yen

Institutional digital asset firm Fireblocks says it has added support for five new fiat currencies with plans to add 25 more in the coming months. Fireblocks as added support for the Euro (EUR), Swiss Franc (CHF), British Pound (GBP), Singapore Dollar (SGD), and Japanese Yen… Read More

X (formerly Twitter) Will Launch Peer to Peer Payments in 2024

X, formerly doing business as Twitter, has announced it will launch peer-to-peer payments in 2024 fulfilling an already revealed goal of the platform. In a blog post, X outlined its accomplishments and changes since Elon Musk took over the faltering social media platform.  X said… Read More

Fintech: London’s Paysend Raises $65m in New Funding Round

Paysend, a London-based fintech company specializing in international money transfers for both consumers and businesses, has announced a substantial $65 million funding boost in its latest round. This round was backed by influential brands, including Mastercard and TelevisaUnivision, and sees continued support from existing investors… Read More

Swiss Crypto Firm Xerof Says Demand Increasing for Digital Assets

A crypto firm based in Switzerland says demand is increasing for crypto products, including blockchain technology and affiliated products. According to XEROF, in a report covering the first 6 months of 2023, transaction service demand has experienced “extreme growth” in volumes, specifically for crypto to… Read More

Brazilian Payments Platform EBANX Expands into Africa and Two Additional Caribbean Countries

International payments Fintech EBANX has expanded its operations into Africa and two additional Caribbean countries. According to a statement by the company, EBNAX now offers services in Ivory Coast, Egypt, Ghana, Morocco, Senegal, Tanzania, Uganda, and Zambia.  At the same time, EBANX is now available… Read More

Wise and Swift Partner on Cross Border Payments

Swift, a global financial messaging service that is used by just about everyone to transfer value, has partnered with Wise (LSE:WISE) – a stealth bank that got its start in low-cost transfers. According to a statement by Swift, the partnership will enable users to complete… Read More

The List of First 35 Approved FedNow Providers

FedNow went live today. FedNow is a payments and transfers service provided by the US Federal Reserve. Approved financial institutions may use the service to enable immediate payments and transfers. Currently, there are 35 approved institutions out of around 9000 banks and credit unions in… Read More

Tranglo and Lulu Partner on Cross Border Payments

Tranglo and Lulu Money have announced a partnership on cross-border payments. Tranglo currently processes 80% of its payments in real-time.  LuLu Financial Holdings runs a proprietary Digit9 platform, an API-first model for remittance-as-a-service. The two companies say they will benefit from complementary strengths on international… Read More

Interactive Brokers Integrates Wise to Enable Transfers

Interactive Brokers (NASDAQ:IKBR) has integrated Wise (LSE:WISE) into its platform to allow account holders to benefit from Wise’s global transfer services. Interactive Brokers supports clients from over 200 countries and territories, so partnering with Wise makes a lot of sense. Interactive Brokers is a regulated… Read More

TransferGo Has Become One of the Largest Platforms for Remittances in Ukraine

TransferGo says it has emerged as one of the top platforms enabling remittances and transfers to Ukraine. TransferGo is a Fintech that is regulated by the Bank of Lithuania. The company states that the largest amount of funds going into Ukraine is from Poland and… Read More

Global Stealth Bank Wise Has Partnered with G-P for Cross Border Payments

Wise (LSE:WISE) has announced a partnership with G-P (Globalization Partners), a global employment platform. Wise will now enable the payments of freelancers and contractors around the world. Wise is a top payments and transfers provider that is also an emerging stealth bank. By working with G-P,… Read More

Stealth Bank Wise: In Q3 FY 2023, Transfer Volume Rocked by 28% Versus Year Prior Quarter, Highly Profitable

Wise (LSE:WISE), a global transfers and payment platform that is also an emerging neobank, says that in Q3 FY 2023 its 5.8 million customers moved 28% volume or £26.4 billion, in comparison to the same quarter year prior. Wise said that for its third consecutive… Read More

Tempo France, Armenotech, Partner on Blockchain Powered Payments and Transfers

Stellar blockchain proponents Tempo France and Armenotech have announced a partnership on payments and remittances, according to a note from the firms. Tempo France is an international money transfer system that recently utilized Stellar to power transfers in Europe and the Asia Pacific region. Tempo… Read More

TripActions Selects Airwallex for Cross Border Transactions

Airwallex has been selected by TripActions to power cross-border payments and currency exchange for TripActions Liquid, its corporate card, and expense management solution. Ravi Adusumilli, Global Head of Partnerships and General Manager of Americas at Airwallex, says identifying faster and safer ways to move and… Read More

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