PayPal‘s Xoom, an international money transfer service, has integrated with NPIL’s/NPCI’s Unified Payments Interface (UPI) to offer inter-bank transactions in India, according to a press release. The release stated using Xoom to send money is easier as the overseas senders only need to know a...
When the World Bank issued its 2020 predictions for the remittances market, it was bad news for service providers in the space. The report, released back in April, predicted the sharpest-ever decline in remittance volume, projecting a 20 percent drop in remittance activity. Interestingly, the...
The pandemic is affecting the amount of money migrant workers can send home, with remittances projected to drop 7 percent this year to $508 billion and forecasted to drop a further 7.5 percent by 2021, according to a statement from the World Bank Thursday (Oct....
As the pandemic fuels digital payments, Visa and PayPal have expanded ways for small to medium-sized businesses (SMBs) and consumers to move money quickly, according to a press release emailed to PYMNTS. The global partnership will boost sending or receiving funds through PayPal, Venmo or...
The world remittance fall-off anticipated because of the coronavirus pandemic could have serious effects for numerous countries, according to a Financial Times report that cited the World Bank. The projected decline is expected to be more than $100 billion from what it was last year, draining...
Cross-border transfers over SWIFT’s global payments innovation (gpi) topped $77 trillion last year, almost double the $40 trillion that moved through the service in 2018, SWIFT announced on Tuesday (Feb. 11). The payments messaging firm also said it had over 3,900 gpi members and that...
While there was no shortage of goings on this week, the eyes and ears of the payments, commerce and finance enthusiasts were more likely trained on the goings on in a bucolic Swiss mountaintop city named Davos. There in Davos, bankers, financiers, technologists, legislators, regulators...
Payments solutions firm EbixCash is bringing cash card solutions to India with a MoneyGram partnership, MoneyGram announced on Monday (Jan. 13). EbixCash, a wholly-owned subsidiary of Ebix, supplies international on-demand software and eCommerce services. MoneyGram is an international provider of money transfer services. “MoneyGram is...
Paysend, a FinTech out of the U.K., has received a license to operate in Canada in a move that will expand the company’s global reach, according to reports. The company obtained a money service business (MSB) license in Canada, and it said the procurement of...
