As elsewhere, in the Gulf Cooperation Council (GCC) region, the remittance market has traditionally been dominated by a few major players. According to Amir Fardghassemi, founder and CEO at UAE-based financial super-app Jingle Pay, that lack of competition has contributed to a system where high...
Businesses can struggle to quickly reconcile payments when their employees have to juggle multiple software platforms, says Jason Hagan, director of treasury services product strategy at First National Bank of Omaha. In the Next-Gen AP/AR Digitization Report, Hagan explains how integrations help companies swiftly consolidate...
Remitly, which works to provide remittances and financial services for immigrants, announced an $85 million funding round amid a worldwide surge in demand for those kinds of services, a press release says. Prosus’s PayU, an existing investor, led the round with a $1.5 billion valuation,...
Credorax, the smart payments provider and FinTech, has announced a partnership with Samsung to develop blockchain technology to offer open banking services, according to a press release. The new partnership will combine “global open banking initiatives, Samsung SDS’ Nexledger Universal platform and Credorax’s industry expertise”...
May 14, 2020
If there’s one thing for certain for small business today, it’s that nothing is certain. Flexibility will be essential to survival, and the pressure is on for small- to medium-sized businesses (SMBs) and financial service providers to migrate online as their customers continue social distancing. Travel companies are at a virtual standstill, and business across […]
August 10, 2017
Slow and steady doesn’t win the financial services race. If you’re not ahead, you’re behind, especially if you’re playing on the global stage. From user interface technology to security and...
February 22, 2017
Moving money across borders takes time, effort and attention to detail — with a focus on local technology and culture. Though the trend toward financial inclusion may be an inexorable...
July 30, 2020
Remitly, which works to provide remittances and financial services for immigrants, announced an $85 million funding round amid a worldwide surge in demand for those kinds of services, a press release says. Prosus’s PayU, an existing investor, led the round with a $1.5 billion valuation, joined by Generation Investment Management, Owl Rock Capital, Stripes, DN […]
May 27, 2020
MoneyGram is partnering with Uber in order to offer discounts on money transfers to over 200 countries and territories, a press release states. The discount is available to anyone who...
April 22, 2020
The world remittance fall-off anticipated because of the coronavirus pandemic could have serious effects for numerous countries, according to a Financial Times report that cited the World Bank. The projected decline...
December 10, 2019
Visa has added a new partner in its quest to simplify, digitize and drive costs down in the global remittances space with its real-time push payments platform Visa Direct. Visa...
