“Revolut, the global financial superapp with over 18 million customers worldwide, announced today that customers from the UK, EEA, Japan, Singapore and Australia can now transfer money to bank accounts in Colombia (COP), Nepal (NPR), Peru (PEN), Bolivia (BOB), Guatemala (GTQ), Egypt (EGP) and Costa Rica (CRC), supporting seven additional local currencies.”

“Walmart (NYSE: WMT) is making it significantly cheaper for its customers to send money to Mexico. Customers can now send money from any Walmart store in the U.S. to any Walmart store in Mexico for as little as $2.50 per transaction through its Walmart2Walmart money transfer program — at least 50% lower than similar offerings on the market. This game-changing low fee marks another major milestone for the retailer as it remains committed to providing more inclusive and affordable financial solutions for all customers, including unbanked or underbanked households that rely on services like wire transfers for everyday money management.”

“As the demand for quick, secure, and simple digital payments solutions continues to grow, Mastercard has partnered with Home Remitt to enable migrants living in South Africa to safely and conveniently send money in near real-time to their family and friends back home. This secure and reliable service will offer individuals an opportunity to save on the soaring remittance costs that currently characterise the South African cross-border payments market. Through this partnership, Home Remitt integrated Mastercard Cross-Border Services into its money transfer service, providing migrants with an affordable means to send money to millions of bank accounts, mobile wallets and cash pick up locations in India, Bangladesh, Kenya and Pakistan, with other countries to be enabled in the near future.”

“The United States has told financial institutions that they may process personal remittances to Afghanistan, a Treasury Department spokesperson said on Thursday, a move taken in tandem with steps to ensure the continued flow of humanitarian aid. The decision to allow money transfers could provide some relief for the Afghan economy, which is nearing collapse after moves by the United States and other countries to halt foreign aid and freeze some $9 billion in Afghan assets after the Taliban takeover on Aug. 15.”

“LuLu Financial Holdings (LFH), an Abu Dhabi-based holding company investing in financial services, has inked an agreement with NPCI International Payments Limited (NIPL), a wholly-owned subsidiary of National Payments Corporation of India (NPCI), to offer real-time remittances to India. The partnership will enable LuLu Financial Holdings through its affiliates to connect to UPI infrastructure and facilitate remittance to beneficiaries in India who are onboarded on UPI-powered apps. The solution will assist with real-time beneficiary name validation and facilitate requisite compliance checks in a secure manner.”

“The London-based Revolut in the past two months has launched products designed to tap the U.S.-Mexico remittance corridor, support for crypto withdrawals, and payments for flights and hotels. There’s a focus on cross-border payments, where Revolut contends it can find new users by offering lower fees and digital rails, despite a highly competitive U.S. market focused on the same services. Revolut earlier this month launched U.S.-Mexico remittances, which reached an all-time high earlier this year, totaling $4.5 billion in May alone, according to BBVA Research , adding that was a 31% jump from the same month in 2020.”

“Nubank is now offering a remittances feature to its users that will work in more than 100 countries,  Latin American Business Stories. The Brazil-based —the  digital challenger bank, by user count—is rolling out the feature in partnership with Remessa Online, a transfers vendor that is also based in Brazil.”

“Revolut, the financial superapp with 16 million customers worldwide, announced today its simplifying cross-border payments between the US and Mexico with the launch of its US-Mexico remittance corridor. With this launch, Revolut customers in the US and Mexico can now easily transfer money between one another without any hidden fees, at the real exchange rate. In May 2021, remittance flows between Mexico and the U.S. increased a whopping 31% , reaching over $4.5 billion as migrants continue sending money to loved ones to alleviate the impact of the pandemic.”

“Thunes , a leading global payments network, today announced a partnership with ABA Bank (“ABA”) that enables Cambodians overseas to send money back home quicker and cheaper from around the world. Previously, customers making international money transfers to Cambodia had to pay high fees averaging close to 12% on a US$200 transfer[1] and wait several days for the funds to reach their recipient. Now, powered by Thunes’ last-mile capabilities and extensive global network, Cambodians living, working and studying overseas can send money back home instantly and at more competitive rates.”

“When travelling abroad, you might have encountered difficulties in withdrawing money and marvelled over how the rules and regulations differ from country to country. And if you ever tried to send money to someone outside of your country, you might have been even more exasperated. This is the state of affairs for remittances – the money that breadwinners living abroad send to family back home. Different countries have different rules about what sort of companies can operate a money-transfer business. Fully licensed banks? Fintechs? Or the rules might differ about the maximum amount of a single transaction. Or what forms of identification for remittance senders or receivers are acceptable. Or what kind of bank account you must have in order to receive or hold foreign currency. There might even be rules regarding what you can spend your remittance money on once you receive it.”

“Travelex , one of the market leading  foreign exchange brands, alongside advanced global payments platform Nium , has today announced the launch of its new digital remittance offering (“Travelex International Money Transfer”) to users in Hong Kong. Already live in Australia and Singapore , this digital remittance offering – powered by Nium’s global payment rails and real-time payment capabilities – enables Travelex users in Hong Kong to remit money to more than 50 markets across the world almost instantly [1] .   Over recent years, Hong Kong has developed a diversified and inclusive payment ecosystem that enables residents to make instant domestic fund transfers via the Faster Payment System (FPS) [2] . However, cross-border payment remains to be a challenge given the long processing time and high costs involved, with the local government looking at ways to enhance and speed up its cross-border bank remittance services.”

“Ripple, the enterprise blockchain solution for global payments, today announced a partnership with Mobile Money, a Malaysian mobile wallet company. Through RippleNet, Ripple’s global payments network, Mobile Money has connected to bKash, Bangladesh’s largest provider of mobile financial services (MFS) which serves over 45 million users. The partnership will power seamless wallet-to-wallet payments to serve the remittance corridor between Malaysia and Bangladesh.”