Mobile Remittance RSS
PayPal shares are up 5% in its first day as a separate and publicly traded company. The payments system company officially split with eBay on Friday, 10 months after they announced that they were going their separate ways. PayPal processed $235 billion in total payment volume last year and logged revenue of about $8 billion. [...]
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Transfast, a little known provider of online, cross-border p2p payments solutions, has announced the launch of its proprietary bank deposit network into 23 African nations – the most extensive of its kind on the continent. Transfast’s bank deposit network enables people in the US and Canada, and soon from the UK and EU, to send [...]
The post First bank deposit network for receipt of payments across 23 African nations appeared first on Payments Cards & Mobile.
Nigeria has recorded a total transaction of N700 billion, about $3.5 billion, through the mobile money banking system since 2012, according to the Central Bank of Nigeria (CBN). The Director, Banking and Payment Systems Department, CBN, Dipo Fatokun, made the statement in a presentation at a workshop on Mobile Money and Emerging Payment System master [...]
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In an embarrassing moment, PayPal has been forced to pay a £5.2 million ($7.7 million) settlement over alleged sanctions violations including allegations that it processed payments for a man involved in the black market for nuclear weapons technology. PayPal, which is owned by eBay, is alleged to have facilitated thousands of pounds worth of transactions involving [...]
The post PayPal fined £5.2m over failure to block malicious users appeared first on Payments Cards & Mobile.
New research from remittance specialist Azimo, demonstrates that the percentage of money transfers sent from mobile phones has more than doubled in the 12 months to January 2015. Azimo’s research found that almost one in 10 people between the ages of 18 and 24 have sent money via a mobile phone. Just one in 200 people over [...]