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

Western Union CEO Sees Digital Driving Global Remittance Growth
Western Union CEO Sees Digital Driving Global Remittance Growth
February 07, 2023  |  Cross-border Payments

Digital platforms are continuing to revolutionize the remittances market, and Western Union is taking notice. The 172-year-old financial services company told investors during its fourth...

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Atlantic Money Says Wise Delisted It From Price Comparison Website
Atlantic Money Says Wise Delisted It From Price Comparison Website
January 27, 2023  |  International

Atlantic Money has accused international money transfer service Wise of stifling competition. In a statement on its website on Friday (Jan. 27), the foreign exchange...

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Western Union Looks to ’23 to Reverse Revenue Decline
Western Union Looks to ’23 to Reverse Revenue Decline
October 20, 2022  |  Earnings

Despite expected third-quarter revenue declines and earnings guidance that falls short of Wall Street consensus, Western Union is delivering a financial outlook and strategy through...

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CFPB Accuses Choice Money Transfer of Violating Remittance Rules
CFPB Accuses Choice Money Transfer of Violating Remittance Rules
October 04, 2022  |  Regulation

The Consumer Financial Protection Bureau (CFPB) is taking action against Choice Money Transfer, accusing it of multiple violations of money transfer laws. The bureau announced...

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DOJ Seeks to Double Jail Time for Money Transmission Crimes
DOJ Seeks to Double Jail Time for Money Transmission Crimes
September 20, 2022  |  Regulation

Buried in the U.S. Department of Justice’s crypto crime report last week was a call for Congress to double the criminal penalties for any unlicensed...

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Revolut Turns 7 with 20M Customers
Revolut Turns 7 with 20M Customers
July 14, 2022  |  Digital Payments

British FinTech Revolut is celebrating its seventh year as a company by hitting a milestone of 20 million customers, 250 million monthly transactions, and a...

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Western Union Reports Increasing Digital Transfer Revenue in Q1
Western Union Reports Increasing Digital Transfer Revenue in Q1
April 28, 2022  |  Earnings

The Western Union Company has released its first quarter reports, saying that the revenue had been impacted by less retail money transfer along with its...

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Banks Consider Adding Zelle to Retail Payments as Alternative to Mastercard, Visa
Banks Consider Adding Zelle to Retail Payments as Alternative to Mastercard, Visa
April 06, 2022  |  Consumer Payments

Zelle might be seeing more action from banks in the future, with some of them wanting to add the money-transfer service to the checkout at...

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FinTech Startup Plaid Unveils Payments Program
FinTech Startup Plaid Unveils Payments Program
October 21, 2021  |  Digital Payments

FinTech startup Plaid is planning to unveil a new payments program on Thursday (Oct. 21) that will facilitate digital payments funded by users’ bank accounts,...

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