money transfers

Electronic funds transfer are electronic transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, via computer-based systems, without the direct intervention of bank staff.

Source: en.wikipedia.org

Greece to Cap Banks’ Fees on Money Transfers
Greece to Cap Banks’ Fees on Money Transfers
December 15, 2024  |  Bank Regulation

Greece reportedly aims to cap banks’ money transfer fees, while eliminating consumer bill pay fees. As Bloomberg News reported, Prime Minister Kyriakos Mitsotakis told lawmakers...

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Western Union’s Digital Business Sees 15% Growth in Transactions
Western Union’s Digital Business Sees 15% Growth in Transactions
October 23, 2024  |  Earnings

Western Union’s Branded Digital business saw 15% growth in transactions and 9% growth in revenue on a reported basis in the third quarter. This marked...

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FIS and Neural Payments Partner on P2P Payment Service
FIS and Neural Payments Partner on P2P Payment Service
August 15, 2024  |  Partnerships

FIS and Neural Payments have partnered to help banks offer peer-to-peer (P2P) payment capabilities to their customers. This collaboration will make Neural Payments’ P2P payment...

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Western Union Grows Africa Retail Presence Via Morocco ‘Concept Store’
Western Union Grows Africa Retail Presence Via Morocco ‘Concept Store’
June 26, 2024  |  Cross-border Payments

Western Union is bringing its “concept store” concept to Africa with a new outpost in Morocco. The money transfer service announced the store — its...

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Less Than Half of FinTech Banks Let Consumers Make P2P Payments
Less Than Half of FinTech Banks Let Consumers Make P2P Payments
May 10, 2024  |  Digital Payments

FinTechs must make money mobility a top priority if they want to woo consumers away from traditional banks. While PYMNTS Intelligence’s data confirms FinTechs have...

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Interac Acquires Canadian Rights to Vouchr’s Engagement Platform
Interac Acquires Canadian Rights to Vouchr’s Engagement Platform
April 16, 2024  |  Digital Payments

Interac has acquired the exclusive Canadian rights to use Vouchr’s engagement platform. This platform allows users to send and receive personalized multimedia notifications along with money transfers,...

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CFPB Warns Remittance Transfer Providers About Making False Claims
CFPB Warns Remittance Transfer Providers About Making False Claims
March 27, 2024  |  CFPB

The Consumer Financial Protection Bureau (CFPB) has issued a circular warning remittance transfer providers about making false claims regarding the cost and speed of international...

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Western Union’s Branded Digital Transactions Gain 13%
Western Union’s Branded Digital Transactions Gain 13%
February 06, 2024  |  Earnings

Western Union’s latest results showed increased traction in digital channels, and management pointed to omnichannel efforts as a key avenue of promise in the months...

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Intermex Partners With Visa to Expand Money Transfer Services
Intermex Partners With Visa to Expand Money Transfer Services
December 19, 2023  |  Cross-border Payments

International Money Express (Intermex) has partnered with Visa to extend its money transfer services to more than 20 countries that it didn’t previously serve. With this collaboration, Intermex...

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