Digital River Teams Up with Global Mass Payments Provider Payoneer

Digital River, Inc., a leading global provider of Commerce-as-a-Service solutions, announced it has teamed up with Payoneer Inc., a leading online payments company transforming the way businesses send and receive cross-border payments. Designed to provide quick, simple and cost-effective mass payouts and fund transfers to professionals and businesses worldwide, Payoneer’s technology complements the Digital River

The Renminbi is the Second Most Used Currency for Cross Border Payments with China and Hong Kong

SWIFT’s RMB Tracker shows that the RMB is now the second most used currency for cross border payments with China and Hong Kong. In May 2014, 12% of cross border payments with China and Hong Kong were done using the RMB, up 36% from one year ago. The US Dollar remains in the top position,

hyperWALLET Chooses Earthport to Enhance Cross-Border Payments Service

Earthport, a provider of cross-border payment services, today announced an agreement with hyperWALLET Systems Inc., a provider of global payment solutions, to enhance cross-border payments for corporate customers. Under the new agreement, hyperWALLET will leverage Earthport’s global network to deliver more competitive payments services to a greater number of countries. Adopting Earthport enables hyperWALLET to

Orange Launches Mobile-to-Mobile Money Transfers in Western African Countries

Orange is launching a quick and easy international money transfer service at a competitive price called “Orange Money International Transfer”. The offer is available between Mali, Senegal and Cote d’Ivoire. Every year, 200 million euros are moved between those three countries  in the form of money transfers. With the new service, Orange meets the  needs

Cross-Border Cheques to be Phased Out

Cross-border cheques and bank drafts within the Common Monetary Area (CMA) are being phased out with effect from 22 July 2013 and will no longer be accepted by any banking institution within the CMA. The CMA includes Namibia, South Africa, Lesotho and Swaziland. For Namibian clients it means that, as from the 22nd of July

Aftab Currency Extends its Remittance Network to Kenya, Nigeria and Cameroon

Aftab Currency Exchange, a remittance and foreign exchange brand with a presence in three continents, has strengthened its bonds with Airtel Communications, a leader in global payments services to extend joint operations in Kenya and Nigeria. Aftab Currency has taken another initiative with Fidelity Bank with an active network of 173 branches across Nigeria to

MasterCard and Western Union Launch International Payments Service for Small Businesses

MasterCard  and the Western Union Company announced a dedicated international payments service that will increase the flexibility with which small and medium-sized businesses can conduct cross-border trade. The new direct foreign exchange capability will be provided by Western Union Business Solutions, the business payments unit of the Western Union Company, and available to all companies

World Bank’s IFC Invests $10m in Earthport to Expand Cross-Border Payments

Earthport, the cross-border payments service provider has announced that IFC, a member of the World Bank Group, has agreed to invest $10 million in the company. The funding will be used to expand Earthport’s presence and payments service infrastructure, particularly in developing countries. Through this investment, Earthport also becomes part of IFC’s extensive network which

Earthport Builds on Cross-Border Payments Network with First Route into North Africa

Earthport, the UK listed cross-border payments service provider, today announced the roll out of a fully automated payment service into Morocco. According to the release Morocco is one of the top remittance destinations on the African continent and the second largest remittance country in North Africa with an estimated $6.4 billion worth of payments received in