“Today, PayPal launched Xoom —its international money transfer service—in 32 markets [1] across Europe. People in these markets can now use Xoom to quickly send money, pay bills or top up phones to more than 130 markets internationally. Xoom’s expansion to Europe is a significant milestone and another example of PayPal fulfilling its mission to make the movement and management of money more convenient, accessible, secure and affordable.”

“MoneyGram (NASDAQ: MGI ) a global provider of innovative money transfer services, has announced a new digital money transfer service with Canada Post , enabling money transfer consumers to start a transaction online and conveniently complete it at select Canada Post locations. To initiate a transaction, consumers simply visit moneygram.ca, create a profile, start a transaction and choose the ‘Cash at a Location’ option. From there, users visit one of Canada Post’s more than 5,200 locations that offer MoneyGram services to complete their transaction. For added convenience and security, consumers can use the provided barcode, which contains their transaction details.”

“Today, Visa (NYSE:V) announced a new strategic agreement with Western Union (NYSE:WU), a global leader in cross-border, cross-currency money movement. Western Union will implement Visa Direct, Visa’s real-time1 push payments platform in an effort to bring speed and transparency to the process of sending money around the world. This collaboration reinforces Visa’s commitment to modernize how payments are made around the world. Once Western Union’s implementation of Visa Direct is live, Western Union will be able to offer customers an expedited remittance service onto cards with more transparency and an enhanced user experience for both senders and receivers. Western Union and Visa share a vision for modern money movement; this expanded service is intended to make cross border payments more reliable and efficient than ever before.”

“MoneyGram International, Inc. (NASDAQ: MGI ) announced a new partnership to provide consumers with enhanced choice and convenience in Bangladesh – one of the largest remittance receiver markets in the world. Jamuna Bank seamlessly integrated with the API-driven MoneyGram platform to provide consumers in Bangladesh the ability to receive money straight into their bank accounts.”

“Samsung Electronics Co. said Wednesday that it has begun the beta version overseas remittance service on its mobile payment system Samsung Pay in partnership with local foreign money transfer operators Hanpass and Sentbe. The beta service will be available in 17 countries including the United States, China, and Japan. The company plans to gradually expand the service to other countries as well as add more partners. “

“TerraPay’s low value payments network connects financial instruments internationally. The company’s interoperability engine enables customers to send and receive transactions across diverse payment instruments and platforms – enabling mobile wallets in international, regional and domestic markets.”

“Geoswift, a leading provider of cross-border payments between China and the rest of the world, launches GeoRemit, a P2P money transfer service at Money 20/20 Europe today. GeoRemit will help consumers swiftly and securely transfer money to 90% of Chinese bank accounts, both debit and credit, in RMB, by utilising Geoswift’s network of banks in China. In most countries, remitting money domestically is a relatively straightforward process. However, the challenge lies in remitting securely and swiftly between China and rest of the world. China’s complex regulatory framework and stringent laws governing the movement of money, make it extremely challenging for consumers looking to transact into China.”

“The Western Union Company (NYSE: WU), a leader in cross-border, cross-currency money movement, today extended its global digital footprint to Latin America and the Caribbean, activating the Western Union^® mobile app (for iOS and Android) in Panama and Westernunion.com/jm in Jamaica, enabling customers to send money to more than 200 countries and territories, 24/7.”

“Driven by growth in the United States, Europe, and Russia, global remittances grew 7% in 2017 to $613 billion from $573 billion in 2016, the World Bank reported Monday. At the same time, the average cost of remittances fell, though expenses remain more than twice as high as the World Bank would like. Last year’s growth rate represented a turnaround from 2016 and 2015, when worldwide volume contracted by 1.5% and 2.6%, respectively, and was caused in part by currency fluctuations. “The rebound in remittances, when valued in U.S. dollars, was helped by higher oil prices and a strengthening of the euro and ruble,” the World Bank said in a news release.”