When war broke out in Ukraine last year, Daumantas Dvilinskas and his team at TransferGo quickly realized the intensifying need for money transfering services such as theirs.
Santander has launched a new money transfer business to take on the likes of TransferWise; PagoFX was created after Santander...
Walmart has expanded their money transfer service to over 200 countries and all their U.S. locations; the expansion is through a partnership with Moneygram; Walmart’s move comes after recent news of Amazon expanding their financial services options for customers; “Money transfer services are like bread at the restaurant for Walmart; it’s negligible revenue for them,” said Daniel Ives, chief strategy officer at GBH Insights tells TearSheet. “The broader strategy is to build up that product arsenal on the consumer side — every Walmart customer globally is an Amazon customer that could be taken away.” Source.
Western Union announced plans to deploy its digital banking offering in South America's largest economy.
Santander has teamed up with Ripple to bring to market the first international money transfer app by a large retail bank based on blockchain technology; the project does not yet have a launch date but Business Insider reports the companies said in the next few months; the app will allow for transfers to be settles within 24 hours and customers will be able to understand all costs before making a transfer. Source.