Payments News

On The Web

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Remittances to Mexico hit third highest level on record in July

“Remittances sent to Mexico, a major support for the Mexican economy and in particular for low-income families, continued its historic 2020 run and rose in July to the third highest level on record, central bank data showed on Tuesday. Mexico received $3.53 billion in remittances in July, up by more than 7% compared to the […]
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Deals

WorldRemit to Acquire Sendwave in $500 Million Payments Deal

“WorldRemit Ltd. , a U.K. online money transfer company, has agreed to buy Africa-focused, app-based remittance firm Sendwave as the global pandemic intensifies demand for digital banking. The cash and stock deal is worth more than $500 million, according to a person with knowledge of the matter. The combined company will be valued at more […]
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Domains

Paysend enters technology partnership with Alipay for global remittances

“Paysend, the global Fintech corporation based in UK, announces a technology collaboration with Alipay to provide Paysend’s users with cross-border money transfer that brings more convenient and inclusive services to consumers globally. Paysend said the agreement is a significant step forward towards creating a more inclusive and accessible global money transfer market.”
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Domains

In the Middle of a Pandemic, Two Remittance Startups Thrive

“The business of global remittances, in which immigrants and expatriates send money to family and friends back home, has been slammed by the coronavirus pandemic. But at least two remittance providers — Remitly and TransferWise — say the disruption has brought new customers to their door.”
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Deals

TransferGo raises $10M additional funding, launches in 11 new markets

“TransferGo , the London-based international money transfer service, has raised another $10 million in funding, as it discloses that its customers numbers has surpassed two million. The round was co-led by Seventure, and Vostok Emerging finance, with follow-on funding from Hard Yaka, Revo Capital, and Bootstrap Europe. The startup is also announcing it has launched […]

On The Wires

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Domains

WorldRemit Launches WorldRemit Transfer Tracker App

“WorldRemit, a leading global digital payments company, has launched The WorldRemit Transfer Tracker mobile App for recipients of money transfers which allows them to track their remittances. The WorldRemit Transfer Tracker App is now available through the Google app store in Nigeria, India, Mexico and Colombia. It will also be free to download through the […]
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Domains

Remitly Doubles Mobile Wallet Offerings and Global Consumer Reach Amid COVID-19 Pandemic

Remitly, the largest independent provider of remittance and transformative financial service products for immigrants, today announced the expansion of its mobile wallet network, which now reaches more than 300 million mobile wallet holders across the world, more than doubling its reach from 160 million earlier this year. Since March, Remitly has added 11 new partners […]
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Domains

Skrill Launches Free International Money Transfer Service In U.S.

“Paysafe, a leading specialized payments platform, today announced the U.S. launch of its Skrill Money Transfer service. Existing and new Skrill customers in the United States can now use the solution to transfer money for free to friends and family in Mexico, India and 16 other Asian and European countries, with others available shortly. Against […]