WorldRemit recently entered the U.S. market and already expects it to be their biggest market by year end; remittances sent from the U.S. back to home countries have risen to $66bn from $50bn in the last 5 years; immigrants are becoming more tech savvy and companies like WorldRemit see big potential as apps like WhatsApp have helped move people to use their phones more and more; WorldRemit has been driven in large part by relying on a number of different partners to help set up their expanding network; tax issues are still a big concern and recently receiving the NY approval, a 2 year effort, sets the company up to focus on scale. Source.
Since WhatsApp began testing its payments feature in February of last year in India, it has processed about a million...
The payment operation, which has been awaiting regulatory approval for three years, will first focus on small merchants and will be implemented gradually in the South American country.
The use of messaging apps raises compliance issues that SnipperSentry addresses. This issue is not going away for fintechs and banks.
WhatsApp, Brazil Central Bank In Talks To Restore Payments Service Volcker Rule reforms expand options for raising VC funds CMG...
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