A love affair between consumers and their mobile phones is leading to explosive growth in new digital payments across Europe. More and more consumers are shopping across borders online and using mobile in-app and in-store for purchases, while innovative retailers increasingly offer omnichannel payment services, including digital and mobile transactions. E-commerce in total rose by…
OpenPayd, an API-first Banking-as-a-Service provider, has announced it has enhanced its payments capabilities with direct access to the SEPA payment scheme (Single Euro Payments Area). OpenPayd enhances SEPA capabilities The new integration will see OpenPayd’s business customers – predominantly online marketplaces, merchant acquirers and other high growth FinTechs – benefit from fast and cost-effective payment…
Remittances have played an increasingly important role in the economies of many low-income countries as migrants around the world have been sending an increasing amount of money home in recent decades. But that trend has been significantly interrupted by the COVID-19 global pandemic. Remittances are expected to drop by 20% in 2020 to $445 billion (£360…
Western Union is reported to have made an offer to acquire MoneyGram in a transaction that would bring together the two largest money-transfer service providers in the US. Western Union seeks deal to acquire MoneyGram Western Union has made a takeover offer for MoneyGram, according to a person familiar with the matter, who asked not…
A group of leading technology, finance and nonprofit companies have joined forces to announce the launch of PayID, a universal payment ID to simplify the process of sending and receiving money globally – across any payment network and any currency. Multinational industry alliance launch PayID GoPay, Ripple, Blockchain.com, BitPay, Brave, Flutterwave, Mercy Corps and others…
A new study has found that the total value of B2B cross-border payments will reach $35 trillion in 2022 from a COVID-related low of $27 trillion in 2020; representing 30% growth. However, the long-lasting economic impact of the COVID-19 pandemic means that cross-border values will only exceed 2019 values by 2022; highlighting the effect that…
