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The World Bank estimates remittances to be a $600bn industry. Somaliland-born founder of WorldRemit, Ismail Ahmed, believes it could be worth a lot more.
Peer-to-peer payments service PayKey has raised $6m in a Series A round of funding co-led by e.ventures and Gaby Salem of Wharton Asset Management.
MasterCard is making it easier for Chinese users to pay for tuition and other costs in the US through a new partnership with online payments service Plastiq.