Qatar Islamic Bank (QIB) has partnered with Visa to enhance cross-border business-to-business (B2B) payments through Visa B2B Connect. The platform supports direct, account-to-account international transfers and will allow QIB’s corporate clients to send payments to 120 countries. QIB is the first Islamic bank in Qatar...
The “One Beautiful Bill” that’s made its way through the House and now is up for debate (and possible changes) in the Senate will have a significant impact on the remittance industry — and perhaps some unintended consequences. As it stands now, the Act includes...
Money movement company TerraPay launched a partnership with Wave Mobile Money. The collaboration is designed to enhance cross-border remittance services in West Africa by allowing Malians to receive money from family and friends abroad directly into their Wave mobile wallets, according to a Thursday (May...
Uncertainty is the watchword of the current global macroeconomic environment. Tariffs are being raised, lowered, paused. GDP is slowing, almost no matter where you look. But there are some constants amid the turmoil. Remittances are consistent, as workers around the world send money home to...
China’s central bank is reportedly asking lenders to use more yuan in cross-border transactions. The People’s Bank of China has increased the base ratio for yuan-denominated trade transactions from 25% to 40%, Bloomberg News reported Monday (May 26), citing sources familiar with the matter. Though...
It could soon cost more for migrants in the U.S. to send money back home. As the Financial Times (FT) reported Sunday (May 25), that’s because the tax bill passed by the U.S. House of Representatives last week includes a 3.5% tax on remittance transfers...
Global payment infrastructure firm Trans-Fi has launched a unified platform called BizPay that enables instant, compliant cross-border transactions with more than 250 payment methods across more than 100 countries. BizPay enables businesses and individuals to send and receive money, initiate payouts and accept pay-ins, in minutes, the company...
OpenFX has emerged from stealth and announced that it raised $23 million in initial funding for its real-time cross-border payments platform and settlement network. The platform made its stealth launch in early 2024 and now has an annualized transaction volume of $10 billion, the company said...
Ramp will expand its issuing partnership with Stripe to launch stablecoin-backed corporate cards designed to facilitate cross-border transactions. The combination of stablecoin-backed cards and Ramp’s corporate card and financial operations platform will enable issuance of new card programs in multiple countries at once, Ramp said in...