Travelex ordered to pay $3m ransom by cybercriminals
The ailing FX firm is wrestling with a New Year’s ransomware attack.
Remittances
UK remittance fintech Paysend secures Canadian MSB licence
The paytech says its card-to-card service is now used by more than 1.2 million customers.
Nium powers cross-border payments for Cambodia’s PhillipBank
Cambodian institutions are increasingly engaging with their global counterparts.
Sokin CEO: We’ll turn remittances on its head
Sokin’s CEO believes disruption hasn’t hit remittances yet.
Vietnam’s TPBank seals deal with blockchain paytech RippleNet
RippleNet claims its first bank client in Vietnam.
Singapore remittance start-up InstaReM rebrands to Nium
Nium CEO envisions a world where everyone’s money is free for them to use.
Western Union expands into Asia with Kyodia and Hanpass partnership
The collaborations are live with payout functionality.
Making payment easy across Africa and beyond
Thabo Makoko, explores how the continent can improve its payments infrastructure.
Banking Technology October 2019 issue out now
Lessons from Africa.
Five lessons global banks can learn from African fintechs
Mobile payments have been positioned as a ground-breaking idea but Africans have been doing that for a while.
Challenger banks in India: who’s who and what’s their tech
A comprehensive list of Indian challenger banks and banking services, and the tech they are using.
Sibos 2019: Final wrap-up of talks, interviews and daily news
See our final wrap-up of the London-hosted four day event!
Mastercard and R3 deliver blockchain cross-border payments solution
The partnership will focus on connecting global faster payments infrastructures.
New exchange fintech Currensea goes live in the UK
The card allows users to save on foreign spending.
PNC becomes first US bank on RippleNet
The bank joined the blockchain payments platform in September 2018.
UnionBank pilots blockchain-based cross-border remittance
It’s the first Philippine bank to successfully remit to Singapore.
Post Office partners Western Union for digital international payments
Western Union’s business platform is part of the deal.
Banking Technology July/August 2019 issue out now
Drawing the curtains on a bright tomorrow.
Fintech: changing lives and promoting inclusion across the globe
164 million migrant workers and 800 million people around the world today are directly supported by remittances.
Video: fintech news weekly round-up – 14 January 2019
Featuring N26, RBS and Loot, Google in Ireland, and Alipay in Pakistan.
Video: fintech news weekly round-up – 8 January 2019
A short and sweet round-up of the week’s selected news stories in a video format.
Ripple’s blockchain sends speed to CIMB’s payments network
CIMB’s product SpeedSend has corridor with Australia, US, UK and Hong Kong.
Five considerations for a successful rebrand
Rebranding is a self-discovery and reflection process, and as much about the journey as the destination.
How blockchain could change the global remittance industry
The scope of blockchain for remittance is increasing in emerging markets.
First Bank teams with WorldRemit for digital money transfers to Nigeria
In 2017, Nigeria received over $22bn in remittances, making it the largest recipient in Africa.
BPCE, Natixis and TransferWise team for affordable cross-border remittances
Transferwise enables cross-border remittances for BPCE’s subsidiaries.
Lebara and WorldRemit partner for digital remittances
MoneyGram out, WorldRemit in, as Lebara’s exclusive partner for digital money transfer service.
Infographic: the better half of remittances
Debunking some common myths about women and remittances.
Payments round-up: 6 February 2018
Stars SafeCharge, WorldRemit, Wing Cambodia Limited Specialised Bank, PaymentComponents and Amazon India.
Ingenico finds it a Small World for payments
Ingenico will begin processing payments for Small World in 18 countries, including the US.
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
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
The U.S.’s No. 2 remittance provider is expanding its MoneyGram MobilePass service to its entire U.S. network of 35,000 agent locations.
Why I believe the US State Department is wrong about mobile money in 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”.
Geoswift, UnionPay and Western Union Vie for Chinese International Tuition Payments with Amazon Promotion
As students gear up for back to school, the competition for international tuition payments continues to heat up. Geoswift, UnionPay International and Western Union Business Solutions are offering Amazon gift cards to Chinese students studying in 14 countries that use their service for cross-border tuition payments.
Report: Top Reasons Consumers Transfer Money Highlight Payments Opportunities
With competition for cross-border payments heating up, new data from currency exchange website XE.com show that U.S. 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 Wins MoneyGram Board Approval after Upping Bid to $1.2 Billion
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’s bid has earned the approval of MoneyGram’s board of directors. But the deal still must win regulatory and shareholder approval before Ant officially acquires MoneyGram and gains a massive foothold in the global remittance market.
Euronet Outbids Ant Financial for MoneyGram
Payments processor Euronet is dangling more money and the potential for faster, simpler regulatory approval in front of MoneyGram investors, significantly outbidding China’s Ant Financial Services Group for the No. 2 U.S.-based money transfer company.
Ant Financial Makes Giant Leap into Remittance Biz with MoneyGram Buy
Ant Financial Services Group, the online and mobile financial services affiliate of Chinese e-commerce giant Alibaba Group, has just become a competitive juggernaut in the remittance business with the acquisition of MoneyGram, the second-largest provider of money transfer services based in the U.S. The transaction of approximately $880 million for all of MoneyGram’s common and preferred shares announced Jan. 26, not only helps MoneyGram compete with Western Union, it helps the combined company compete with startups that have been trying to shake up the market for years.
