Remittance

Lightnet Expands Reach Throughout Asia Pacific

Wednesday, July 1, 2020 - 2:21pm

Lightnet and KogoPAY sign Memorandum of Understanding (MoU) to share operations in electronic banking in Lithuania that will give Lightnet access to the European Market.

Key Points: 
  • Lightnet and KogoPAY sign Memorandum of Understanding (MoU) to share operations in electronic banking in Lithuania that will give Lightnet access to the European Market.
  • Lightnet is dedicated to improving the lives of the unbanked and underbanked populations throughout Asia Pacific, whom have been significantly impacted by the economic downturn caused by the COVID-19 pandemic.
  • Lightnet recognizes the opportunity to provide a more inclusive international remittance ecosystem and has a number of business ventures aimed at expanding its reach throughout Asia Pacific.
  • Lightnet is one step closer to providing migrant workers throughout Southeast Asia with access to real-time money transfers."

WorldRemit Celebrates the Launch of Their Remittance Service in Somalia

Wednesday, July 1, 2020 - 3:51pm

WorldRemit , the global online money transfer service has announced the launch of its remittance services in Somalia.

Key Points: 
  • WorldRemit , the global online money transfer service has announced the launch of its remittance services in Somalia.
  • WorldRemit operates in over 50 send countries to over 150 receive countries and is now the first global digital money transfer player to operate in Somalia.
  • WorldRemit delivers a digital service that removes the middleman and allows Somalis living in the United States to send money home 24/7 at their convenience, quickly and securely.
  • Customers in Somalia can receive remittances via WorldRemit from friends and family anywhere across the United States via Cash Pick Up.

Commercial Bank Dubai and Thunes partner to offer real-time international remittances

Wednesday, June 24, 2020 - 7:01am

Through this partnership with Thunes, Commercial Bank of Dubai will be able to cater to corridors such as India, Philippines, Pakistan and Bangladesh providing customers with real-time remittance to bank accounts, mobile wallets and cash pick-up services at various locations.

Key Points: 
  • Through this partnership with Thunes, Commercial Bank of Dubai will be able to cater to corridors such as India, Philippines, Pakistan and Bangladesh providing customers with real-time remittance to bank accounts, mobile wallets and cash pick-up services at various locations.
  • The service will be launched with remittances to bank accounts whilst remittances to cash-pick up locations and mobile wallets will be added shortly.
  • "We are glad to partner with Commercial Bank of Dubai and join them on their innovative path to become a digital-first bank in UAE.
  • Commercial Bank of Dubai was established in 1969 and is registered as a Public Shareholding Company (PSC).

Commercial Bank Dubai and Thunes partner to offer real-time international remittances

Wednesday, June 24, 2020 - 7:00am

Through this partnership with Thunes, Commercial Bank of Dubai will be able to cater to corridors such as India, Philippines, Pakistan and Bangladesh providing customers with real-time remittance to bank accounts, mobile wallets and cash pick-up services at various locations.

Key Points: 
  • Through this partnership with Thunes, Commercial Bank of Dubai will be able to cater to corridors such as India, Philippines, Pakistan and Bangladesh providing customers with real-time remittance to bank accounts, mobile wallets and cash pick-up services at various locations.
  • The service will be launched with remittances to bank accounts whilst remittances to cash-pick up locations and mobile wallets will be added shortly.
  • "We are glad to partner with Commercial Bank of Dubai and join them on their innovative path to become a digital-first bank in UAE.
  • Commercial Bank of Dubai was established in 1969 and is registered as a Public Shareholding Company (PSC).

On International Day of Family Remittances, IFAD calls for remittance service providers to be declared essential businesses

Tuesday, June 16, 2020 - 5:45am

"Remittances are a lifeline for poor families in low and middle income countries.

Key Points: 
  • "Remittances are a lifeline for poor families in low and middle income countries.
  • Remittance flows are projected to make their sharpest decline in history, falling by 20 per cent in 2020.
  • The closure of remittance service providers during lockdowns has exacerbated the ability of migrants to send money back to their families.
  • Disruptions in remittance flows directly affect the lives and livelihoods of one billion people: 200 million migrantswho send money totheir 800 million relatives.

Ebix Likely to File Counter Suit Against Yatra on Grounds of Multiple Breaches

Monday, June 8, 2020 - 3:17pm

Ebix worked diligently to fulfill its obligations under the Merger Agreement and thus strongly disagrees with the allegations set forth in the complaint.

Key Points: 
  • Ebix worked diligently to fulfill its obligations under the Merger Agreement and thus strongly disagrees with the allegations set forth in the complaint.
  • Ebix intends to enforce all of its rights under the Merger Agreement, and is currently considering all options, including a countersuit against Yatra on account of multiple breaches of its representations, warranties, and covenants under the Merger Agreement.
  • With 50+ offices across 6 continents, Ebix, Inc. endeavors to provide On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries.
  • EbixCashs inward remittance business in India conducts approximately $5 billion gross in annual remittance business, confirming its undisputed leadership position in India.

Skrill Launches Free International Money Transfer Service In U.S.

Monday, June 8, 2020 - 1:30pm

Paysafe , a leading specialized payments platform, today announced the U.S. launch of its Skrill Money Transfer service.

Key Points: 
  • Paysafe , a leading specialized payments platform, today announced the U.S. launch of its Skrill Money Transfer service.
  • It is free to create a Skrill account and Money Transfer senders are charged neither fees nor any foreign exchange (FX) mark-up to send money from the U.S., the worlds largest market for sending overseas remittances2.
  • Skrill Money Transfer is currently rated a perfect 10 for fees and exchange rates by independent consumer money transfer comparison site Monito .
  • Following the launch of the Skrill USA Visa Prepaid Card in January 2020, Skrill Money Transfer is just the latest Skrill move to better meet U.S consumers payment needs.

MoneyGram Launches Partnership with Al Rajhi Bank to Transform Saudi Arabia Cross-Border Payments Market

Thursday, June 4, 2020 - 3:17pm

DALLAS, June 4, 2020 /PRNewswire/ -- MoneyGram International, Inc.(NASDAQ:MGI), a global leader in cross-border P2P payments and money transfers, today announced that it has entered into a strategic partnership with Al Rajhi Bank, the largest Islamic bank in the world, and Tahweel Al Rajhi, the remittances arm of Al Rajhi Bank, to provide money transfer services in Saudi Arabia.

Key Points: 
  • DALLAS, June 4, 2020 /PRNewswire/ -- MoneyGram International, Inc.(NASDAQ:MGI), a global leader in cross-border P2P payments and money transfers, today announced that it has entered into a strategic partnership with Al Rajhi Bank, the largest Islamic bank in the world, and Tahweel Al Rajhi, the remittances arm of Al Rajhi Bank, to provide money transfer services in Saudi Arabia.
  • All of these markets are key recipients of transfers from Saudi Arabia, and consumers will now benefit from this customer-centric integration with Al Rajhi Bank."
  • Abdullah Al-Furaiji, Al Rajhi Bank Head of Remittance and Exchange Business said, "Al Rajhi Bank is the market leader in the Kingdom, and customer centricity is at the heart of all we do.
  • "MoneyGram is delighted to partner with Al Rajhi Bank a bank with the leading digital and physical remittance network in Saudi Arabia," said Ahmed Aly, Head of Middle East for MoneyGram.

Prime Minister to join UN Secretary General and the Prime Minister of Jamaica to convene high-level meeting to address economic devastation caused by COVID-19

Tuesday, May 26, 2020 - 5:01pm

The need to address debt vulnerabilities for all developing countries to save lives and livelihoods for billions of people around the world.

Key Points: 
  • The need to address debt vulnerabilities for all developing countries to save lives and livelihoods for billions of people around the world.
  • The need to create a space in which private sector creditors can proactively engage in effective and timely solutions.
  • Prerequisites for enhancing external finance for inclusive growth and creating jobs, including lowering the transactions costs of remittances.
  • This response must be rapid, and must provide support to all countries in need, in order to rebuild even better and more resilient economies and societies.

International Money Express, Inc. Delivers Record Sales Over Mother’s Day Weekend

Wednesday, May 13, 2020 - 9:05pm

May 9 also marked the single highest sales day for Intermex remittances from the US to Mexico, the single largest money transfer corridor in the world.

Key Points: 
  • May 9 also marked the single highest sales day for Intermex remittances from the US to Mexico, the single largest money transfer corridor in the world.
  • Additionally, online sales in April grew 183%, building on the strong growth delivered in Q1.
  • At International Money Express, Inc. (NASDAQ: IMXI), the customer is at the center of everything we do.
  • We were founded in 1994 and are headquartered in Miami, Florida with offices in Puebla, Mexico, and Guatemala City, Guatemala.