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The move to digital providers could mean cheaper cash transfers for a demographic that has been hard hit by this pandemic, with both senders and receivers being financially affected.
June 19Ding -
Remitly and TransferWise are benefiting from consumers' shift to digital payments and a turn toward banking services as global remittance volumes drop.
June 17 -
In a sign of the rapid shift to digital transactions, MoneyGram reported that its digital transactions grew by 100% in May, compared to the same time last year.
June 10 -
The coronavirus pandemic has made paper money literally a dirty word, causing a rush to digital payments that may be too fast for Western Union and MoneyGram to keep up with as separate companies.
June 2 -
Western Union Co. is seeking to acquire rival money transfer company MoneyGram International Inc., according to a person familiar with the matter.
June 1 -
Money transfer agent Remitly has launched a cash deposit service for its digital bank account holders on the Green Dot retailer network.
May 27 -
Kenya’s biggest source of foreign currency slumped last month, with the central bank indicating that shocks caused by the coronavirus will have a greater impact on the economy for the rest of this year.
May 26 -
The challenge posed by digital-only remittance services has prompted a rapid change at MoneyGram.
May 21 -
The agency has freed companies from reporting requirements and provided flexibility on exams to help them deal with COVID-19 fallout. It has also finished other regulatory relief efforts that were in the pipeline before the pandemic hit.
May 18 -
The agency will allow institutions providing 500 or fewer transfers a year to estimate costs in consumer disclosures rather than quote exact figures.
May 11