A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.
Search Payments News
May 24, 2022
On the web
With Wise Losing 60% of its Value, is The International Payments Industry at Risk
Fintech Finance
“Less than a year ago, Wise (formerly known as TransferWise) shattered records as it became London’s largest-ever tech floatation. Debuting with an initial value of £8.75 billion ($11 billion), Wise brought new hope to the market and buoyed London’s hopes of attracting new technology companies looking to go public on the LSE (London Stock Exchange)….However, while Wise’s first three months as a publicly listed company were encouraging for investors and stakeholders, the stock’s value has since dropped by a whopping 60%. While it’s difficult to pinpoint one individual factor attributing to this slump, there were certainly several key events that seemed to shift the sentiment around Wise’s stock.”
January 27, 2021
On the wires
TransferWise and Visa Announce Global Partnership Following Successful Collaboration on Cloud Technology
“Visa (NYSE: V) and TransferWise today announced a global partnership and the first use of Visa Cloud Connect, a new way for fintechs and partners to securely connect Visa’s global processing network, VisaNet, through the cloud. Visa Cloud Connect underpins a new global agreement between Visa and TransferWise that will enable the expansion of TransferWise’s multi-currency debit cards in Asia Pacific, Europe, Latin America and the Caribbean, the Middle East, U.K. and U.S.”
November 30, 2020
On the web
APRA gives TransferWise a restricted banking licence
Australian Financial Review
“One of Europe’s largest fintechs, TransferWise, will be able to connect directly into Australia’s real-time payments system and further reduce foreign exchange fees, after the prudential regulator awarded it a restricted banking licence on Monday. The Australian Prudential Regulation Authority said the London-based foreign exchange disrupter had been granted a licence to provide a purchased payment facility as a limited ‘authorised deposit taking institution.'”
July 1, 2020
On the web
TransferWise to offer investment products but has ‘no plans’ to become a bank
TechCrunch
“TransferWise, the London-headquartered international money transfer service recently valued at $3.5 billion , has secured an additional license with U.K. regulators to enable it to offer investment products in the future. This will mean that U.K. customers who have money deposited in a TransferWise multi-currency or so-called “borderless” account will be given the option to make that money work harder on their behalf. Total deposits currently sit at £2 billion, so there is quite a lot of customer cash potentially idle.”
June 26, 2019
On the web
TransferWise Launches Debit Card in the U.S. With Access to 40 Currencies
VentureBeat
“Money transfer service TransferWise , coming off of a banner year in which annual revenue grew to $149.12 million (£117 million) from $84.1 million (£66 million) in 2017, this week rolled out a MasterCard debit card and an accompanying multicurrency account — TransferWise Borderless — in the United States. Much like the card TransferWise introduced to U.K. and European Union markets in the middle of last year, it works in over 40 currencies without balance limits, and its conversion fees are consistent with current exchange rates.”
April 25, 2018
On the web
TransferWise launches multi-country bank account
Finextra
“TransferWise says that for anyone travelling, living or working abroad the account means they can manage their money between countries more easily than ever before, with no sneaky fees and no exchange rate markups. Customers can hold and convert funds in over 40 global currencies meaning they can send, spend and save money like a local, as well as getting paid around the world with zero fees. “
March 12, 2018
On the web
TransferWise turns to Wirecard for debit card issuing
Banking Technology
“Following the recent launch of a “borderless account” by TransferWise, the UK-based money transfer company recruited Wirecard as its debit card issuer for the new account. The debit card was privately launched earlier this year to around 1,000 TransferWise customers, with a full public roll-out planned for later in 2018.”
Payments News
Give us your email address or link to our RSS feed and we’ll push the daily Payments News headlines to you.
Top Stories from Payments News
Glenbrook Payments Boot camp®
Register for the next Glenbrook Payments Boot Camp®
An intensive and comprehensive overview of the payments industry.
Train your Team
Customized, private Payments Boot Camps tailored to meet your team’s unique needs.
OnDemand Modules
Recorded, one-hour videos covering a broad array of payments concepts.
Glenbrook Press
Comprehensive books that detail the systems and innovations shaping the payments industry.