Tagged: transfers

September 23, 2020 @ 10:04 am By JD Alois  |  

Transferwise, a Fintech unicorn and fast-growing stealth bank, has published its annual report for the fiscal year ending March 2020. According to the document, Transferwise’s annual profit more than doubled to £20.4 million during the year – the fourth year in a row that the… Read More

September 22, 2020 @ 8:19 am By JD Alois  |  

Currencycloud and Tribe Payments are partnering on a new “Banking-as-a-Service” solution for Fintechs and digital banks, according to a note from the company. Currencycloud is a global, multi-currency account provider where customers are able to collect, convert, pay, and manage multiple currencies, anywhere in the… Read More

July 29, 2020 @ 8:26 am By JD Alois  |  

Remitly, a Fintech providing transfers targeting the immigrant community, has raised $85 million at a $1.5 billion valuation. Remitly said its business is booming during the COVID-19 pandemic. FT Partners served as the financial advisor to Remitly on this transaction with existing investor PayU leading… Read More

July 22, 2020 @ 2:51 pm By JD Alois  |  

North Loop Bank, a Fintech providing “borderless banking,” has integrated Transferwise‘s service to facilitate speedy and inexpensive money transfers at the actual exchange rate. As you should know by now, many traditional financial services firms gouge customers when transferring money. Beyond excessive fees, some firms… Read More

June 16, 2020 @ 8:58 am By JD Alois  |  

Global money transfer service Azimo will offer a fee-free transfer to all customers on June 16, the UN’s International Day of Family Remittances. The move is following the call by the United Nations for a zero fee remittances day. The goal is to raise awareness… Read More

May 15, 2020 @ 9:30 am By JD Alois  |  

Wirex, a payments platform, reports that it is working closely with the Monetary Authority of Singapore (MAS) in order to acquire a license under the new Payments Services Act. The license will allow Wirex to continue to provide services in Singapore, including enabling users the… Read More

May 14, 2020 @ 9:28 pm By JD Alois  |  

MoneyGram Payment Systems, Inc., a subsidiary of MoneyGram International, Inc. (NASDAQ: MGI), has entered into a partnership with the Federal Bank Limited – a private bank in India. MoneyGram is a global payments and transfer Fintech. The collaboration will see MoneyGram services made available for… Read More

May 8, 2020 @ 11:45 am By JD Alois  |  

    Mezu is a mobile payment app that allows sending and receiving money free, instantaneously, and privately. The app is available for download in both the App Store and Google Play. On the privacy side, Mezu says it uses encrypted transaction codes to execute… Read More

April 22, 2020 @ 9:00 am By JD Alois  |  

The World Bank says that global remittances have sunk a whopping 20% in 2020 due to the COVID-19 crisis. The projected fall is the sharpest decline in recent history. The cause is due to the rapid decline in wages and employment of migrant works that… Read More

April 16, 2020 @ 8:09 am By JD Alois  |  

Transfer Platform Sees Uptick in Users During Month of March WorldRemit, a global payments and money transfer platform, is donating £400,000 worth of vouchers for money transfers to NHS workers. According to WorldRemit, the move is to thank the health service workers during the COVID-19… Read More

April 9, 2020 @ 4:00 pm By JD Alois  |  

Yesterday (April 8, 2020), the US Department of Homeland Security issued an alert – warning consumers about COVID-19 related scams. The joint statement actually included the Infrastructure Security Agency (CISA) and the United Kingdom’s National Cyber Security Centre (NCSC) due to the depth of the… Read More

March 21, 2020 @ 10:20 am By JD Alois  |  

International money transfer company WorldRemit has partnered with Paykii to launch na international bill payments service using WorldRemit’s app. Recently, WorldRemit has announced several material partnerships including with Varo Money in the US, a digital bank, and Alipay – part of Ant Financial in China…. Read More

March 16, 2020 @ 7:00 pm By JD Alois  |  

Fintech TransferWise has announced that its 7 million+ customers can now send money instantly to Alipay users. Alipay is the payments platform provided by Ant Financial (Alibaba). Ant Financial is the highest valued Fintech in the world. “Our newest partnership with Alipay has been one… Read More

February 22, 2020 @ 9:33 am By Omar Faridi  |  

UK-based Fintech Cashplus is updating its mobile-based app with the spend tracking option offered by Google Maps, the company’s management confirmed on February 20, 2020. The Spending Insights feature uses data obtained from Google Maps to identify where and the exact time when a payment… Read More

February 19, 2020 @ 11:26 pm By Omar Faridi  |  

WorldRemit, a cross-border funds transfer company, revealed on February 19 that it has teamed up with Varo Money, an established Fintech firm focused on providing digital banking services in the US.  According to a press release, the partnership between the two companies will give Varo… Read More

January 24, 2020 @ 11:02 am By Omar Faridi  |  

MoneyGram International, Inc. (NASDAQ: MGI), a leading international peer-to-peer (P2P) payments and money transfer service provider, revealed on January 23 that it has teamed up with the Suez Canal Bank, an established financial institution that will allow MoneyGram clients to send funds directly to the… Read More

January 23, 2020 @ 9:37 pm By Omar Faridi  |  

Leading multinational payments firm Western Union (NYSE: WU) has teamed up with established India-based Airtel Payments Bank, in order to process remittance services. The partnership will allow Airtel Payments Bank clients to direct Western Union transactions into their individual bank accounts via the banking section… Read More

November 22, 2019 @ 9:19 am By JD Alois  |  

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

November 9, 2019 @ 10:09 am By Omar Faridi  |  

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

November 1, 2019 @ 5:43 pm By Omar Faridi  |  

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