Remittances

Founded in 2012, Currencycloud has been in the cross-border payments space for almost a decade now. Since its launch, the company has expanded beyond its native UK market and following its recent acquisition by Visa, is looking far beyond its shores to complete its mission of making the movement of money easier.

Next-generation payments provider Sokin has launched its digital payments wallet in India, a market that generates a huge $87bn in remittances per year.

Hubpay, a digital money wallet, has scored $20m in its Series A funding round, which was led by Signal Peak Ventures.

Currencycloud has teamed with Instajet, a private jet community looking to redefine private aviation, in order to offer the latter a fixed pricing model and safeguarding of its transactions.

Virtual IBAN and corporate account provider Monneo has partnered with Kantox to offer currency management automation on cross-border payments.

Payments provider Sokin has teamed with Visa to roll-out its global currency account and debit cards across Asia Pacific.

A report by FinTech Rapyd has found 93% of businesses see cross-border commerce as a high priority for 2022 and beyond.

FinTech company Zilch has revealed it has expended its partnership with Mastercard to help bring the former’s buy now, pay later (BNPL) card digital card to Europe.

In an age where the traditional form of in-person payments is being restricted due to Covid-19 restrictions, the rise of PayTech seems almost inevitable. With more people than ever now using payment technologies, the demand for funding is also climbing.

A new blogpost by Currencycloud has underlined how the coronavirus pandemic and the restrictions put in place due to it has led to the massive growth of digital remittances.