Skip to content
Mobile Remittance RSS
Instant payments: what are you waiting for?
November saw the launch of new instant payment schemes in the US and Eurozone. The main commercial banks in the US are behind RTP®, and nearly 600 payment institutions from eight European countries are participating in SCT Inst (SEPA Instant Credit Transfer). Real-time or instant payment is not new though. It started with Zengin in [...]
The post Instant payments: what are you waiting for? appeared first on Payments Cards & Mobile.
Ripple and MoneyGram test XRP currency transfers
Ripple has announced a tie-up with money transfer company MoneyGram, a move which is significant because the arrangement involves the use of XRP, Ripple’s digital currency, which has recently soared in value but also faced questions about its practical uses. The partnership will see MoneyGram pilot the use of XRP through a new Ripple service, called xRapid, designed to provide [...]
The post Ripple and MoneyGram test XRP currency transfers appeared first on Payments Cards & Mobile.
Transferwise launches consumer “borderless” account and debit card
Transferwise is moving another step closer to banking territory with the expansion of its “borderless” account and debit card for consumers. The accounts can hold cash in more than 20 different currencies and will initially role out to 1,000 users following its launch last year for businesses. The company is also launching its own debit card, [...]
The post Transferwise launches consumer “borderless” account and debit card appeared first on Payments Cards & Mobile.
Report: Mobile banking and payment practices of US Financial Institutions
The year 2016 marks the second time that multiple Federal Reserve Banks (FR Banks) have surveyed financial institutions (FIs) about their mobile banking and payment practices and plans. After surveying institutions in the Atlanta, Boston, Dallas, Minneapolis, and Richmond Federal Reserve Districts (Districts) in 2014, the FR Banks, led by the Federal Reserve Bank of [...]
The post Report: Mobile banking and payment practices of US Financial Institutions appeared first on Payments Cards & Mobile.
Western Union settles $60 million AML probe
Western Union is to pay $60 million AML fine to resolve allegations that it failed for more than a decade to maintain a program to deter and report transactions involving suspected criminal fraud and money laundering. The settlement with the New York Department of Financial Services (DFS) follows the money-transfer company’s agreement in January 2017 [...]
The post Western Union settles $60 million AML probe appeared first on Payments Cards & Mobile.
