Global Payments

WorldRemit Rolls Out Transfers Within Africa; Paytm Canada Updates App

The Axis

Welcome to The Axis, your late look at payments news from around the world. Coverage includes WorldRemit’s launch of digital money transfers within Africa. In addition, Philippine Veterans Bank will work with Fiserv to help with digital transformation, and Paytm Canada has updated its app to help customers collect and spend Paytm Points.

WorldRemit has rolled out a new digital service within Africa for remittances to make it easier for people to send and receive money within the continent, the company said in an announcement. With the launch, the company seeks to focus on Kenya, Uganda, Rwanda and Tanzania. Already, the company transfers more than $1.6 billion to the region. The service could serve frequent travelers who work in different countries, as well as the owners of small businesses that are purchasing goods abroad.

In other news, Philippine Veterans Bank has selected Fiserv to help the bank undergo a digital transformation, Fiserv said in an announcement. As the bank hones in on offering a unified customer experience through both digital and physical channels, it will roll out digital banking capabilities for the first time.

“We’re putting in place technology that will enable us to better serve existing customers and attract new ones,” Philippine Veterans Bank Senior Vice President and Information Technology Group Head Camille Maricelle M. Canullas said in the announcement. “Our staff will have a more comprehensive view of customer relationships, and customers will have access to digital services aligned with how they live and work.”

And Paytm Canada has rolled out updates to its app to bring new incentives and features to the platform, the company said in an announcement. The app now offers a “frictionless method” to collect Paytm Points and use them for discounted gift cards. Overall, Paytm Canada provides rewards to customers who choose to pay bills using its mobile platform.

"Since launching the Paytm Canada app in 2017, we have listened to the valuable feedback from thousands of Canadians and we are thrilled to be able to put these insights into action and deliver an exceptional user experience," Paytm Canada CEO Harinder Takhar said in the announcement. "Every Canadian has a bill to pay, and our new features and incentive program seamlessly rewards our customers for a tedious yet necessary part of our everyday lives.”



About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.