The Co-operative Bank of Kenya has partnered with SimbaPay, a digital money transfer provider, to offer international money transfer services to the bank’s customers in the Diaspora. Co-operative Bank accounts receiving the funds will be credited instantly. The service is currently available for the UK-Kenya remittance corridor only and will be expanded to cover more countries
MoneyGram, a global provider of innovative money transfer and payment services announces that the company has reached an agreement with Bank of South Pacific that will enable customers in Samoa and Tonga to receive cross-border remittances. “While we continue to see growth in the economies in Samoa and Tonga, many of the citizens are still
The Western Union Company , a leader in global payment services, and the Angola Post Office, provider of postal and financial services in Angola, announced the signing of an agreement to provide for the first time Western Union money transfer services to consumers in Angola. Richard Malcolm, Regional Vice President for Southern and East Africa
Equity Bank Group in Kenya and VFX Financial PLC in the UK have partnered to launch Equity Direct a real-time, cross border, multicurrency money transfer service from the UK to Kenya. The service will enable individuals and corporates in the UK to send money to any account at Equity Bank in the region. The service
It’s the phone call from a stranger who claims your relative is in trouble and needs cash or an email that says you’ve won a prize for a contest you never entered. These are tell-tale signs you’re being scammed. As part of National Consumer Protection Week, MoneyGram, a global money transfer and payment services company,
MoneyGram, a money transfer and payment services company, has announced an agreement with Postal Savings Bank of China Co. Ltd (PSBC), a large commercial retail bank in China, to provide money transfer services in over 3,700 locations. With the addition of PSBC to MoneyGram’s agent network, and the rollout of MoneyGram’s money transfer services to
Zipcash, the money transfer service from Zimpost is reported to have earned $300,000 in commissions during the period between October and December 2013 according to reports in the Herald. The state owned postal service company (Zimpost) launched Zipcash in October 2013 as a replacement or upgrade of the traditional money order system that was in
MoneyGram, a global money transfer and payment services company, has reached a new milestone by surpassing 10,000 locations in the Philippines. This makes MoneyGram one of the most widely networked global remittance companies in the country. With presence in nearly 200 countries and now over 10,000 locations in the Philippines, MoneyGram continues to bring families
TawiPay, a startup based in Switzerland, is tackling the excessive fees incurred by migrants sending money overseas. Latest World Bank data show for example that Sub-Saharan African overseas workers pay an average of 12% in fees . A fair transfer fee of 5%, proposed by independent organizations , would result in an additional US $3
The global African diaspora currently consists of more than 30 million individuals. The International Fund for Agricultural Development (IFAD) estimates that these migrants jointly contribute about US$40 billion annually in remittances to their families and communities in Africa. With this potential in perspective, Diamond Trust Bank, in association with the Nation Media Group (NMG), has
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