Payments News

On The Web

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Domains

TerraPay Helps Brings Remittance Services To Several African Countries

“GIMAC, the regional electronic money transfer platform of Central Africa, and TerraPay have signed a strategic partnership agreement that will strengthen the remittances ecosystem in CEMAC region, according to a press release. The partnership will enable instant cross border money transfer to bank accounts and mobile wallets in the CEMAC zone, comprising of Cameroon, Republic […]
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Companies

Paysafe Extends Reach Of Skrill Money Transfer Service

“Paysafe has extended the reach of its money transfer service, Skrill Send Direct, to nine countries, according to a press release. Skrill customers can now transfer money from anywhere in the world to bank accounts and mobile wallets in a total of 45 countries. The nine new countries added are Colombia, Ecuador, El Salvador, Guatemala, Honduras, […]
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Domains

Western Union Makes Digital Push Amid Fierce Competition for Money Transfers

“Western Union Co. WU +0.13% is aggressively expanding its digital services as the money-transfer giant tries to keep pace with competitors vying for international transfers. At stake in this digital race is a growing share of an industry that each year handles more than half a trillion dollars in remittances, in which money mostly flows from migrant workers to their […]
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Deals

International money transfer company TransferGo scores $17.6M Series B

“TransferGo, the London-based international money transfer startup, has raised just over $17.6 million in Series B funding, including an earlier tranche of funding closed in May. The round is led by Vostok Emerging Finance, and Silicon Valley’s Hard Yaka, with participation from Revo Capital, U-Start Club, and Practica Capital. The figure also includes around $830,000 in […]
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Domains

Saudi Arabia, UAE Aim to Cut Payments Costs With Common Digital Currency

“The central banks of Saudi Arabia and the United Arab Emirates (UAE) have jointly launched a digital currency trial. The Saudi Arabian Monetary Authority (SAMA) and the Central Bank of the UAE jointly announced Tuesday that the project is aimed to facilitate blockchain-based financial settlements between the two countries. While the central remittance systems in both countries have “evolved […]

On The Wires

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Domains

Western Union Digital Expands in Asia: Mobile App Now Live in Singapore

“The Western Union Company (NYSE: WU), a leader in cross-border, cross-currency money movement, has launched the Western Union® mobile app in Singapore, connecting customers to their families and loved ones around the world, 24/7. Activation of the app in Singapore has given Western Union a digital trifecta in Asia this year, as Singapore now joins Hong Kong and Malaysia in […]