Australia News

How InstaReM will cut cross-border payments costs

The latest update from Remittances Prices Worldwide (RPW) reveals that the cost of international money transfers in December 2017 remains substantially higher than the Sustainable Development Goals for 2030 set by the United Nations. In Q4 2017, there was a modest drop in the global average cost of making international payments compared to the previous: in Q3 that stood at 7.21%, falling to 7.09% in the final quarter.
By Nigel Frith | | Australia | See more in News

Revised TPP offers Australian opportunities to skilled migrants

Under the revised TPP agreement Canadians will have better access to jobs in Australia, sidestepping the strict rules around skilled migrant recruitment Consumers will benefit from lower prices as many tariffs have been removed. Investors will get a better rate when sending money abroad when they partner with a money transfer provider
By Rachel Doyle | | Australia | See more in News

Veem announces new partnership with Cin7

International money transfers platform Veem, the first remittance solutions provider to use blockchain, has just announced a new partnership with integrated inventory software pioneer Cin7. This is a move that many Aussie entrepreneurs will welcome as it will help them keep track of inventory from multiple vendors as well as pinpointing who has (and hasn’t) been paid.
By Nigel Frith | | Australia | See more in News

Small World and Ingenico partnership promises money transfers service

Europe’s largest independent international money transfers company, Small World Financial Services, has selected a global leader in seamless payments, Ingenico Group, to become its trusted payment processing partner in its quest to extend its global footprint. Small World will now embark on leveraging Ingenico’s extensive suite of mobile and online payment processing tech, placing it in an optimal position to provide its cross-border payments services to consumers in hitherto untapped markets.
By Nigel Frith | | Australia | See more in News

Westpac unveils more flexible payment solutions in a bid to keep Millennials happy

Payments functionality launched that allows customers to make money transfers through iMessage. Westpac have launched a suite of more flexible payment options recently, including a link up with Alexa and Beem. Banks are still the most expensive way to send money internationally, many money transfer companies offer similar flexible timesaving payment options at a fraction of the cost.
By Rachel Doyle | | Australia | See more in News

BitPay integrates ShapeShift API enabling instant in-wallet exchanges

BitPay, a global leader in cross-border payments using Bitcoin, has announced its integration with instant cryptocurrency converter ShapeShift to enable instantaneous Bitcoin (BTC) to Bitcoin Cash (BCH) trades. Both companies have now added ShapeShift’s Application Programming Interface (API) to their wallet apps, allowing customers wishing to make international money transfers using the cryptocurrency to “shift” or exchange Bitcoin for Bitcoin Cash (and contrariwise).
By Nigel Frith | | Australia | See more in News

Revolut launches geolocation-based travel insurance

Revolut, the fintech startup that launched in 2015 with its trademark offering of free international money transfers, has added another string to its bow: international medical and dental insurance. The company is not morphing into an insurance firm. Instead, it’s partnering with third-party insurance providers, just as it did with its earlier mobile device insurance. On this occasion, Thomas Cook Money provides the actual insurance product.
By Nigel Frith | | Australia | See more in News

Bank of Thailand raises Limit on International Money Transfers

Thailand's central bank has raised the limit on international money transfers. It is now possible to transfer can transfer up to 800,000 baht ($25,039) per day per customer, up from 200,000 baht previously, Assistant Governor Vachira Arromdee said in a statement on January 12, 2018. Increasing the limit would provide greater flexibility for private individuals and small businesses, the statement said.
By Andrew Rosenbaum | | Australia | See more in News

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