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Banks lag behind their corporate clients on blockchain
A new report from leading financial research firm East & Partners in partnership with Payments Cards & mobile, claims banks are lagging far behind their clients’ expectations when it comes... read more
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Citibank has lucky escape over $500 million transfer as Judge overturns ruling
Citibank has been told it is entitled to recoup $500 million that it accidentally wired Revlon, a US appeals court has announced. Reversing a lower court ruling, the 2nd U.S. Circuit... read more
The post Citibank has lucky escape over $500 million transfer as Judge overturns ruling appeared first on Payments Cards & Mobile.
Walmart pursues dismissal of FTC money transfer lawsuit
Early last week, Walmart asked the federal court handling the FTC’s lawsuit into money transfer fraud to dismiss it. Walmart’s brief lays out several reasons why the FTC’s case is... read more
The post Walmart pursues dismissal of FTC money transfer lawsuit appeared first on Payments Cards & Mobile.
Citibank and the $900 million “biggest blunders in banking history”
In August 2020, Citibank mistakenly used its own money to repay a $900 million term loan it administered on behalf of Revlon that was held by multiple asset management groups.... read more
The post Citibank and the $900 million “biggest blunders in banking history” appeared first on Payments Cards & Mobile.
Remittances sent worldwide jump over 60% to $653 billion
Remittances sent worldwide have increased 64.3% in the past decade, rising from $420.1 billion 10 years ago to $653.4 billion in the last year*, according to research by ACE Money... read more
The post Remittances sent worldwide jump over 60% to $653 billion appeared first on Payments Cards & Mobile.
