RemittancesRSS

Geoswift partners with Bank of Shanghai for remittance services

Geoswift, a cross-border payments provider between China and the rest of the world, has unveiled its partnership with Bank of Shanghai to launch a new remittance service in 2017.

Infographic: demystifying the cross-border remittances ecosystem

InstaReM Infographic - Demystifying Cross-Border Remittances

With a large chunk of the global workforce migrating to foreign countries in search of lucrative career opportunities or better living, the World Bank estimates that migrants will send up to $636 billion home in 2017, with three-quarters of that being remitted to developing countries. In 2015, $440 billion in remittances was sent back to […]

MoneyGram expands MobilePass to 35,000+ locations

MoneyGram

The second largest remittance provider in the US, MoneyGram, is expanding its MobilePass service to its entire US network of 35,000+ agent locations.

Why I believe the US State Department is wrong about mobile money in Africa

Dare Okoudjou, MFS Africa

The US Department of State recently released a report that identified mobile money services as particularly susceptible to money laundering in Africa. It cites services like M-PESA and M-Shwari as “services [that] remain vulnerable to money laundering activities”.

Top reasons US consumers transfer money highlight payments opportunities – report

Payments

With competition for cross-border payments heating up, new data from currency exchange website XE, part of Euronet Worldwide, shows that US residents are transferring money internationally most often to pay bills or for living expenses, followed by travel expenses, mortgage and rental payments, and cash gifts.

Ant Financial wins MoneyGram board approval after upping bid to $1.2bn

MoneyGram

China’s Ant Financial Services Group appears to have beat back a surprise challenge by Euronet Worldwide to acquire MoneyGram. After raising its offer for the money transfer giant by more than one-third, to $1.2 billion, Ant Financial’s bid has earned the approval of MoneyGram’s board of directors.

Ant Financial buys MoneyGram for $880 million

Moneygram goes Ant Financial way

Alibaba’s affiliate Ant Financial is splashing out $880 million for money transfer operator MoneyGram International. This is Ant Financial’s first acquisition of a US-listed company.

Wirecard’s newest service enables mobile money transfers from migrants

Wirecard

In an attempt to take its share of the exploding cross-border payments market, which hit about $600 billion last year according to some estimates, Wirecard is launching a new mobile money remittance service in Europe, targeting consumers including unbanked migrants sending funds home.

WorldRemit and Xpress Money launch instant money transfers to Pakistan

Pakistan flag

Money transfer firms WorldRemit and Xpress Money have partnered to unveil a remittance service to Pakistan. Through Xpress Money’s agent partner network, WorldRemit customers will be able to make instant money transfers to be collected at over 9,500 cash pick-up locations all over the country – including major banks, Al Habib Bank, Bank Alfalah, Bank […]

Shinhan Bank and Streami to launch Bitcoin remittance service

Shinhan Bank HQ, Seol. Image source: Kaniwari, Wikimedia Commons

South Korea’s Shinhan Bank is launching a Bitcoin remittance service between Korea and China, with Hong Kong as an intermediary. The service will be available in December.

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