Video: fintech news weekly round-up – 8 January 2019
A short and sweet round-up of the week’s selected news stories in a video format.
Remittances
Five considerations for a successful rebrand
Rebranding is a self-discovery and reflection process, and as much about the journey as the destination.
How blockchain could change the global remittance industry
The scope of blockchain for remittance is increasing in emerging markets.
Lebara and WorldRemit partner for digital remittances
MoneyGram out, WorldRemit in, as Lebara’s exclusive partner for digital money transfer service.
Infographic: the better half of remittances
Debunking some common myths about women and remittances.
Payments round-up: 6 February 2018
Stars SafeCharge, WorldRemit, Wing Cambodia Limited Specialised Bank, PaymentComponents and Amazon India.
Ingenico finds it a Small World for payments
Ingenico will begin processing payments for Small World in 18 countries, including the US.
Infographic: demystifying the cross-border remittances ecosystem
With a large chunk of the global workforce migrating to foreign countries in search of lucrative career opportunities or better living, the World Bank estimates that migrants will send up to $636 billion home in 2017, with three-quarters of that being remitted to developing countries. In 2015, $440 billion in remittances was sent back to […]
MoneyGram Expands MobilePass to 35,000+ Locations
The U.S.’s No. 2 remittance provider is expanding its MoneyGram MobilePass service to its entire U.S. network of 35,000 agent locations.
Geoswift, UnionPay and Western Union Vie for Chinese International Tuition Payments with Amazon Promotion
As students gear up for back to school, the competition for international tuition payments continues to heat up. Geoswift, UnionPay International and Western Union Business Solutions are offering Amazon gift cards to Chinese students studying in 14 countries that use their service for cross-border tuition payments.
Report: Top Reasons Consumers Transfer Money Highlight Payments Opportunities
With competition for cross-border payments heating up, new data from currency exchange website XE.com show that U.S. residents are transferring money internationally most often to pay bills or for living expenses, followed by travel expenses, mortgage and rental payments, and cash gifts.
Ant Wins MoneyGram Board Approval after Upping Bid to $1.2 Billion
China’s Ant Financial Services Group appears to have beat back a surprise challenge by Euronet Worldwide to acquire MoneyGram. After raising its offer for the money transfer giant by more than one-third, to $1.2 billion, Ant’s bid has earned the approval of MoneyGram’s board of directors. But the deal still must win regulatory and shareholder approval before Ant officially acquires MoneyGram and gains a massive foothold in the global remittance market.
Euronet Outbids Ant Financial for MoneyGram
Payments processor Euronet is dangling more money and the potential for faster, simpler regulatory approval in front of MoneyGram investors, significantly outbidding China’s Ant Financial Services Group for the No. 2 U.S.-based money transfer company.
Ant Financial Makes Giant Leap into Remittance Biz with MoneyGram Buy
Ant Financial Services Group, the online and mobile financial services affiliate of Chinese e-commerce giant Alibaba Group, has just become a competitive juggernaut in the remittance business with the acquisition of MoneyGram, the second-largest provider of money transfer services based in the U.S. The transaction of approximately $880 million for all of MoneyGram’s common and preferred shares announced Jan. 26, not only helps MoneyGram compete with Western Union, it helps the combined company compete with startups that have been trying to shake up the market for years.
Ant Financial buys MoneyGram for $880 million
Alibaba’s affiliate Ant Financial is splashing out $880 million for money transfer operator MoneyGram International. This is Ant Financial’s first acquisition of a US-listed company.
Earthport and Ria Money Transfer join forces for remittances
Earthport, a UK-based cross-border payment network, and Ria Money Transfer, the world’s third largest money transfer company, have teamed up. Earthport will provide Ria with access to a global payment network. “Through a single, managed relationship with Earthport, Ria will gain access to over 60 domestic clearing schemes,” Earthport states. The solution “enables complete transparency”, […]
Skrill goes global with mobile
Mobile payments company Skrill has launched a mobile app that it says can send money to anyone, anywhere in the world at any time. The app has several uses, including cross-border remittance payments to various countries in eastern Europe and around the world.
Making cross-border payments work
As the value of global cross-border payments such as workers’ remittances increases, billions of dollars are being lost to inefficient legacy systems – but that could be about to change, according to Hank Uberoi, executive director at Earthport.
Remittances: a window to the future?
The $400 billion global remittances market is moving from cash to account-based transfer, but costs, regulations and new competitors are still the key issues.
Leading with remittances – a new retail banking segment
The remit of the World Bank and the Gates Foundation is to focus on flows of money to developing economies, so much of the publicity is about those and as a result, much of what we understand about remittances is about those markets. And they are not to be underestimated.
