With migrant workers consistently sending money home, the business of remittances tends to be more resilient than most during tough economic times. Even so, Zepz CFO Robert Mitchell told PYMNTS that doesn’t mean they can stand still or take their eye off competitors or price-conscious...
As elsewhere, in the Gulf Cooperation Council (GCC) region, the remittance market has traditionally been dominated by a few major players. According to Amir Fardghassemi, founder and CEO at UAE-based financial super-app Jingle Pay, that lack of competition has contributed to a system where high...
Businesses can struggle to quickly reconcile payments when their employees have to juggle multiple software platforms, says Jason Hagan, director of treasury services product strategy at First National Bank of Omaha. In the Next-Gen AP/AR Digitization Report, Hagan explains how integrations help companies swiftly consolidate...
Remitly, which works to provide remittances and financial services for immigrants, announced an $85 million funding round amid a worldwide surge in demand for those kinds of services, a press release says. Prosus’s PayU, an existing investor, led the round with a $1.5 billion valuation,...
May 14, 2020
If there’s one thing for certain for small business today, it’s that nothing is certain. Flexibility will be essential to survival, and the pressure is on for small- to medium-sized businesses (SMBs) and financial service providers to migrate online as their customers continue social distancing. Travel companies are at a virtual standstill, and business across […]
August 10, 2017
Slow and steady doesn’t win the financial services race. If you’re not ahead, you’re behind, especially if you’re playing on the global stage. From user interface technology to security and...
February 22, 2017
Moving money across borders takes time, effort and attention to detail — with a focus on local technology and culture. Though the trend toward financial inclusion may be an inexorable...
July 13, 2025
President Donald Trump’s immigration crackdown has triggered a corresponding increase in remittances. That’s according to a report Sunday (July 13) by The Washington Post, which illustrates this trend with the example of the VM Services money transfer business in suburban Maryland, where lines are out the door most weekends. “People who’ve saved up money — […]
July 30, 2020
Remitly, which works to provide remittances and financial services for immigrants, announced an $85 million funding round amid a worldwide surge in demand for those kinds of services, a press...
May 27, 2020
MoneyGram is partnering with Uber in order to offer discounts on money transfers to over 200 countries and territories, a press release states. The discount is available to anyone who...
April 22, 2020
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...
