It may have been a long time coming, given that Apple Pay has been available for more than two years, and Android Pay for more than 1 year, but Samsung Pay has finally arrived in the UK.
Samsung have been experimenting with different ways to convince its users that it is more than just a mobile device provider, in order to generate additional revenue streams, and Samsung Pay could be the solution. Read more
The Digital Banking Report have released their sixth annual survey into Retail Banking Trends & Predictions; removing friction from the customer journey is the no. 1 concern. Read more
There is nothing quite like WeChat in the Western World – not even the likes of Facebook can compete with the number and range of services the platform offers to its 800m, mostly Chinese, users. Read more
Donald Trump’s blanket ban on Somalian citizens travelling to the US has made it harder for the 250,000 Somalis based in America to send money back home, reports Mareeg.com. Read more
Amazon have launched a new service that allows customers to upload physical money to their online accounts by presenting a barcode at participating retailers. Read more
Chinese companies have raised $52.6 billion US dollars via bond issues in the first quarter of 2017 – a 72% increase from the previous quarter, and five times more than Q1 2016, according to Dealogic data, Netral News reports. Read more
The Spanish banking giant BBVA has completed the first successful trial of a new Distributed Ledger Technology (DLT) known as Ripple. Read more
There is a growing trend amongst US tech billionaires that the rest of the world is increasingly taking note of.
It all began with the news that Peter Thiel, the billionaire Paypal founder and early Facebook investor has earned New Zealand citizenship, which has allowed him to purchase a $13,5 million dollar estate near Wanaka, a resort town on New Zealand’s South Island, through his holding company Second Star Limited. Read more
88% percent of banks globally are becoming increasingly concerned about losing business revenues to Fintech challenger firms, whilst 82% would like to partner more with them over the next three to five years, reveals a new report, Global Fintech Report 2017, released by PriceWaterhouseCoopers. Read more
UK Supermarkets giant ASDA has partnered with Ria Money, one of the world’s largest in-store money transfer providers, which operates in 145 countries, across 317,000 locations, to launch ASDA Money Transfers. Read more
A new Melbourne, Australia based Fintech startup that has echoes of peer-to-peer money transfer service Transferwise but with more focus on the B2B market, has completed a USD$13 million Series A investment from Tencent, the company that owns China’s most popular social networking and now payments app, WeChat. Read more
The mobile first international payments service TerraPay has received regulatory approval from the Bank of Tanzania to launch an International Money Transfer Service for mobile wallets based in Tanzania. Read more
The Monetary Authority of Singapore (MAS) have secured a coup by persuading TransferWise, the peer-to-peer money transfer service headquartered in London, to choose the city as its new hub for the Asia Pacific region. Read more
Ria is the third largest provider of Money Transfer services worldwide, with more than 300,000 locations worldwide, whilst Prudential bank has a strong footprint in Ghana, so the deal makes sense.
The announcement was made last week and a launch ceremony held in Accra, Ghana’s capital. Read more
In what seems a bizarre, unprecedented and surely unpopular move, Alabama congressman Mike Rogers announced on April 21st the introduction of a bill that will impose a 2% fee on all remittances made from the US to Latin American and Caribbean countries, in order to pay for the Mexico / US border wall promised by President Donald Trump.
The Border Wall Funding Act, or HR 1813, to give it its official title, has now been referred to the Subcommittee on Crime, Terrorism, and Homeland Security. Read more
Dovetail, a financial payments and liquidity management firm with offices in London, the US, Canada and Ireland, has announced that it has successfully completed business level flow testing with the EBA Clearing Pan-European instant payment infrastructure platform. Read more
It started as a niche interest of tech-loving teens but soon grew into a social phenomenon. By the end of 2013, the Oxford Dictionaries named selfie ‘word of the year’, which wasn’t surprising given over a million selfies are taken every day. Now, the selfie has grown up and is getting a job in finance. Here’s the breakdown on how your next self-portrait could lead to a legitimate money transfer.