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A new study has found that UK banks charge small and medium sized enterprises (SMEs) nearly £4bn in hidden transfer fees each year to make international money transfer payments. 96% of these fees are hidden from the customer using the exchange rate offered. This is the first time that a study into the actual rates charged [...]
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Saxo Payments and SafeCharge announced a partnership which will see SafeCharge gain a significant competitive edge, enabling it to offer its clients fast and cost-effective banking services in multiple currencies. The partnership also means Saxo Payments will benefit from a strong distribution network to SafeCharge’s distinguished clientele. SafeCharge was founded in response to the emerging need [...]
The post Saxo and SafeCharge collaborate on cross border settlement appeared first on Payments Cards & Mobile.
Apple Pay is reported to be in discussions with US banks to develop a P2P payments service that will let users send money to one another from their phones rather than relying on cash or checks. The move would put the tech giant in competition with an increasing number of Silicon Valley firms trying to persuade Americans to [...]
Safaricom has reported a 24% jump in M-Pesa revenues to KES19.4 billion ($190 million) in H1 2015, as its active user base reached 15.7 million. Interestingly, the operator also revealed a breakdown of its monthly mobile money traffic. Of the KES160.2 billion of real-time payments it carries per month, the biggest chunk of KES107.4 billion [...]
Last week, P2P Bitcoin company Abra, announced that it will soon be available to all registered users in the US and Philippines and will also now offer services enabling merchants to accept digital cash from consumers using its app. Additionally, it added strategic investments to its $12 million Series A round, announced in September, from American [...]
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