Tagged: transfers

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

June 27, 2024 @ 5:25 pm By JD Alois  |  

Coinbase (NASDAQ:COIN) has revealed a partnership with global e-commerce enabler Stripe.  According to a blog post on Coinbase, Stripe will now support Base – a level II Ethereum-based network incubated by Coinbase and open source. Coinbase describes Base as their “all in” commitment to onchain,… Read More

May 3, 2024 @ 9:11 am By JD Alois  |  

TransferGo, and Tink have announced a partnership to enable international transfers and payments call Pay by Bank. Owned by Visa, Tink is a payments and transfers Fintech that is connected to over 6000 banks. Founded in Sweden, the company also provides banking and lending solutions…. Read More

April 19, 2024 @ 6:45 am By Omar Faridi  |  

UK-based Fintech Wise (LSE:WISE) has shared key updates from January-March 2024. The Wise Q1 2024 update has released important highlights for the Fintech platform. Here’s a few highlights: Wise says it helped customers “save an estimated £447,518, 882 in Q1.” Wise further claims that it… Read More

March 28, 2024 @ 11:08 am By JD Alois  |  

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

March 27, 2024 @ 5:09 pm By JD Alois  |  

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

March 27, 2024 @ 11:36 am By JD Alois  |  

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

February 18, 2024 @ 6:23 pm By Michael Wong  |  

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

February 14, 2024 @ 9:00 am By JD Alois  |  

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