Payments News

On The Web

nbsp;

Domains

U.S. Allows Personal Remittances to Flow to Afghanistan

“The United States has told financial institutions that they may process personal remittances to Afghanistan, a Treasury Department spokesperson said on Thursday, a move taken in tandem with steps to ensure the continued flow of humanitarian aid. The decision to allow money transfers could provide some relief for the Afghan economy, which is nearing collapse […]
nbsp; nbsp;

Domains

LuLu Financial Holdings and NPCI International Ink Agreement to Enable Real-time Remittances to India on the UPI Platform

“LuLu Financial Holdings (LFH), an Abu Dhabi-based holding company investing in financial services, has inked an agreement with NPCI International Payments Limited (NIPL), a wholly-owned subsidiary of National Payments Corporation of India (NPCI), to offer real-time remittances to India. The partnership will enable LuLu Financial Holdings through its affiliates to connect to UPI infrastructure and […]
nbsp;

Domains

Revolut Makes Remittances a Priority As It Enters the U.S.

“The London-based Revolut in the past two months has launched products designed to tap the U.S.-Mexico remittance corridor, support for crypto withdrawals, and payments for flights and hotels. There’s a focus on cross-border payments, where Revolut contends it can find new users by offering lower fees and digital rails, despite a highly competitive U.S. market […]
nbsp; nbsp;

Deals

Chilean Fintech Looks for Slice of Giant Money Transfers Market

“Chilean fintech Global66 is tapping into the vast pool of remittances and money transfers sloshing around Latin America, hoping a new wave of products will give it an edge over a hoard of competitors. The start-up that employs 200 people in eight different countries plans to use its latest funding round to promote a new app through […]
nbsp;

On The Wires

nbsp;

Domains

Revolut Launches US-Mexico Remittance Corridor, Enabling Expats to Easily Send Money Back Home

“Revolut, the financial superapp with 16 million customers worldwide, announced today its simplifying cross-border payments between the US and Mexico with the launch of its US-Mexico remittance corridor. With this launch, Revolut customers in the US and Mexico can now easily transfer money between one another without any hidden fees, at the real exchange rate. In May 2021, remittance flows […]
nbsp;

Domains

Thunes Enables Cambodia’s Advanced Bank of Asia (ABA) to Make Instant Cross-border Transfers to Bank Accounts

“Thunes , a leading global payments network, today announced a partnership with ABA Bank (“ABA”) that enables Cambodians overseas to send money back home quicker and cheaper from around the world. Previously, customers making international money transfers to Cambodia had to pay high fees averaging close to 12% on a US$200 transfer[1] and wait several […]
nbsp;

Deals

Nium to Acquire Wirecard Forex India Private Limited

“Nium , a leading global payments platform, today announced it has signed a definitive agreement to acquire Wirecard Forex India Pte. Ltd – a foreign currency exchange, pre-paid card, and remittance service provider in India. Wirecard Forex is licensed by the Reserve Bank of India as an Authorized Category II Money Exchange Dealer (AD II) and the acquisition includes […]