A startup processor on Monday launched a service intended to allow consumers to pay online merchants with cash. Retail Expansion Network Inc., Oakland, Calif., says its PaidByCash service will attract consumers who are reluctant to use credit cards online or who don't have bank accounts, and will be cheaper for …

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, …

With banks issuing or planning to issue more and more prepaid debit cards to handle remittances overseas, more banks are expected to enter the market, putting pressure on the established money-transfer businesses like Western Union Holdings Inc., a new research report concludes. According to the report, entitled “Money Transfer Cards …

The number of Visa- and MasterCard-branded money-transfer cards issued in the U.S. will reach 1.1 million in 2006, up from 400,000 this year and just 145,000 in 2004, according to a new research study on the remittance market. The jump in the number of the prepaid cards follows the increasing …

Yahoo Finance's decision to shutter its 4-year-old PayDirect person-to-person payment service means it is also discontinuing a service it started up only 10 months ago to allow electronic remittances from domestic users to recipients overseas. The new international payment service was an effort by Yahoo Finance, a unit of Sunnyvale, …

Yahoo Finance, whose PayDirect person-to-person payment service has been in operation domestically for three years, is now offering PayDirect International to allow electronic remittances from domestic users to recipients overseas. Announced this week, the new international payment service is an effort by Yahoo Finance, a unit of Sunnyvale, Calif.-based Yahoo …