Remittances

The agency's director said both steps will come as part of an ongoing review of agency rules and show her "commitment under the law to be effective and evidence based” in providing clarity to stakeholders.

Alipay and WorldRemit will enable consumers to send remittances to the Alipay app to support broader use for payments and other financial services.

While the size of the global remittances market may ebb and flow with the global economy, one thing is clear – it’s massive, at over $700 billion in payments each year and growing.

U.K. all-in-one card firm Curve has launched an international no-fee transfer service called Curve Send that supports account-to-account remittances through its mobile app.

The leader of a new Compliance and Payments Task Force dives into how it will address emerging issues of counterterrorism financing in the digital age.

The agency announced changes meant to reduce compliance costs and allow some institutions to provide estimates rather than disclose exact prices for international money transfers.

In an update of its rulemaking agenda, the bureau said it "expects to take final action in April 2020" on a proposal that would rescind strong underwriting requirements.

Deluxe Corp. will take over bill payment processing for private-label credit card issuer Synchrony beginning next year, absorbing Synchrony’s remittance operations and employees in Florida and Georgia.

MoneyGram is partnering with Wing mobile banking service in Cambodia to offer money transfer services that allow users to send and receive funds directly into their mobile wallets.

Incumbents and challenger fintechs dominate the remittance market, leading Majority to forge a very narrow use case for its initial corridor.

Majority, which will launch nationwide later this quarter, will use networks of immigrants to sell a mobile phone-based account that features unlimited remittances and international calling services.

PayPal’s cross-border remittance unit Xoom is hoping to build a faster payments market in South Korea by enabling direct delivery into bank accounts, a channel that tends to be more expensive than other options.

House Republicans are pushing the CFPB to continue to allow banks and credit unions to estimate exchange rates and fees for money transfers.

TransferWise once marketed itself as Robin Hood-style rival to banks. Now it sees itself as an ally.

It's not a reaction to JPM Coin, the banks says, but a way to speed up international payments for corporate clients.

The CFPB’s enforcement action against Maxi suggests that the CFPB may more aggressively enforce certain rules going forward, writes Jeffrey Alberts and Dustin Nofziger of Pryor Cashman.

The creator of the Zelle precursor clearXchange is heading a company building a blockchain-based international payment technology for banks.

The CFPB ordered Texas money transmitter Maxi to pay a $500,000 fine for allegedly deceiving consumers by saying the company is not responsible for errors made by agents.

The number of transactions to send money across borders has risen for 36 consecutive months, but this could eventually slow.

Pangea says it is developing a digital account after customers complained that the bank relationship they had wasn't "for them."