Payments News

On The Web

nbsp; nbsp;

Deals

Alibaba’s Ant Financial buys UK currency exchange giant WorldFirst reportedly for around $700M

“This isn’t your average multi-hundred million dollar acquisition. The deal was confirmed by WorldFirst in a note to customers while Alibaba, which curiously didn’t put out an official press release, acknowledged the acquisition to us through a spokesperson. Yet despite a relatively under-the-radar outing, the deal has potentially significant consequences. It not only underscores the strong market […]
nbsp;

Domains

Banks Near Zero Hour on $124 Trillion of Flows

“While exorbitant currency spreads and hefty bank charges are the norm for payments that cross national borders, the impression that they mostly affect individuals is wrong. Annual people-to-people transactions amount to $400 billion a year. People-to-business payments – like sending fees to schools overseas – come to another $1.5 trillion. Those are substantial figures, but they pale […]

On The Wires

nbsp;

Domains

Visa and Western Union to Bring Speed, Simplicity and Transparency to Global Payments

“Today, Visa (NYSE:V) announced a new strategic agreement with Western Union (NYSE:WU), a global leader in cross-border, cross-currency money movement. Western Union will implement Visa Direct, Visa’s real-time1 push payments platform in an effort to bring speed and transparency to the process of sending money around the world. This collaboration reinforces Visa’s commitment to modernize how […]
nbsp;

Domains

MoneyGram Now Connects to Consumer Bank Accounts in Bangladesh

“MoneyGram International, Inc. (NASDAQ: MGI ) announced a new partnership to provide consumers with enhanced choice and convenience in Bangladesh – one of the largest remittance receiver markets in the world. Jamuna Bank seamlessly integrated with the API-driven MoneyGram platform to provide consumers in Bangladesh the ability to receive money straight into their bank accounts.”
nbsp;

Domains

MoneyGram and Canada Post Introduce a New Digital Money Transfer Service

“MoneyGram (NASDAQ: MGI ) a global provider of innovative money transfer services, has announced a new digital money transfer service with Canada Post , enabling money transfer consumers to start a transaction online and conveniently complete it at select Canada Post locations. To initiate a transaction, consumers simply visit moneygram.ca, create a profile, start a […]
nbsp;

Deals

Ripple Announces Strategic Partnership With Money Transfer Giant, MoneyGram

“Ripple, a provider of leading enterprise blockchain solutions for global payments, has agreed to enter into a strategic partnership with MoneyGram (NASDAQ: MGI), one of the world’s largest money transfer companies. Through this partnership, which will have an initial term of two years, Ripple would become MoneyGram’s key partner for cross-border payment and foreign exchange […]
nbsp; nbsp;

Domains

MoneyGram Announces New Debit Card Deposit Service in Partnership With Visa

“MoneyGram (NASDAQ: MGI ), a global provider of innovative money transfer services, today announced the launch of a new debit card deposit service in partnership with Visa ( https://usa.visa.com/ ) via Visa Direct, Visa’s real-time1 push payments platform, which enables payments to over a billion cards worldwide. The person-to-person (P2P) money transfer option allows customers in the […]
nbsp;

Domains

Juniper Research: International Digital Remittances to Reach $525 Billion by 2024, As Traditional Players Face Fintech Challenge

“New data from Juniper Research has found that international digital remittances will reach $525 billion by 2024, up from an estimated $332 in 2019. According to the new research, Digital Money Transfer & Remittances: Domestic & International Markets 2019-2024 , the mobile channel will become increasingly popular; accounting for 41% of international digital money transfers by […]