Digital Transactions Authoritative, insightful and timely information for payments professionals
Visa Inc. on Thursday said it will introduce transaction alerts and other services that will work with Google Inc.'s new Android operating system for mobile phones. The world's largest payments network also said it has developed contactless-payment and money-transfer applications for a new handset from Nokia that features near-field communication …
Read More »Search Results for: money transfer
With New Web Service, Xoom Targets the Giants of Money Transfer
Armed with $15 million in new venture capital, San Francisco-based Xoom Corp. is embarking on the next phase of its growth plan: selling Internet-based money-transfer services to banks, retailers and smaller money-transfer operators (MTOs) that can put their own brands on them and sell them to consumers. Founded in 2002, …
Read More »Fears Rise Over ATM Cash-Out Attacks; Digital Money-Transfer Growth; Plus Weekly Recap
Square Opens Platform Beyond Payments; Money-Transfer Newbies Gaining Share; Plus Weekly Recap
The Money-Transfer Newbies Nip at the Incumbents’ Heels
Relative newcomers to the world of money transfers such as Remitly Inc., TransferWise Ltd., and WorldRemit Ltd., which specialize in end-to-end digital transactions, are nibbling away at the market share of agent-based leaders The Western Union Co. and MoneyGram International Inc., says a new report from research firm Aite Group …
Read More »Cash App Helps Lift Square; Money-Transfer Providers’ Woes; Plus Weekly Recap
Western Union Plans Layoffs As the Money-Transfer Giants Struggle With a Fast-Changing Market
Under pressure from changing market conditions and challenges from digital-based competitors, money-transfer giants The Western Union Co. and MoneyGram International Inc. both reported disappointing second-quarter results. In addition, Denver-based Western Union said it will chop its workforce by 10% over the coming months as part of a cost-reduction campaign it …
Read More »ETA Joins Financial Trade Groups in Opposing Money-Transfer Tax To Fund Border Wall
The Electronic Transactions Association joined seven other financial trade groups in opposing a Republican-backed bill in the House of Representatives that would levy a 5% tax on cross-border money transfers to fund President Trump’s proposed border wall. Introduced in January by U.S. Rep. Andy Biggs, R-Ariz., H.R. 85 would require …
Read More »Alipay Launches a Wallet-Based Cross-Border Money-Transfer Service Using Blockchain
Payments observers wondering when, and where, blockchain technology would take hold may want to pay close attention to cross-border remittances. Alipay Payment Services (HK) Ltd. said on Monday that it has launched a mobile-wallet based money-transfer service between Hong Kong and the Philippines using a blockchain backbone. The service, which …
Read More »IBM’s Blockchain Service; BBVA’s Money-Transfer App; Heartland Analytics Launches
