Cross Border Remittance Ripe for Startups as Banks Abandon Business
As banks cut cross-border transfer services to emerging markets because of perceived risk, the market for remittance services opens up for digital payments startups.
ZipZap CEO Alan Safahi
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The Ben Thanh market in Ho Chi Minh City
MasterCard and Sacombank are equipping the Ben Thanh market in Vietnam with mobile point of sale capabilities, introducing digital payments to what had been a cash only market for more than a century. more »
Image: ShutterStock
Prepaid processor i2c, Inc. has opened a new office in Singapore as it extends its operations the Asia Pacific region. more »
Image: ThinkStock
As a new Russian law took hold July 1 to help support a new national payment system, the country may have extended an olive branch to Visa and MasterCard regarding its fees. But Visa says these reports are conflicting, and the details are not yet finalized. more »
Image: Bloomberg News
Visa Inc. said Russia hasn't done enough to ease new rules requiring payment-system operators to make a deposit that would be at risk if services are interrupted. more »
Tomasz Krajewski
Imagine that one day people from your country’s rural areas start paying with their mobiles. Would it be strange? Definitely. That would mean they are more advanced in mobile payments adoption than the majority of people living in cities, who still prefer to use plastic. more »
MasterCard has launched a new Shariah-compliant debit card in Malaysia. more »
Image: ShutterStock
Visa Inc. and MasterCard Inc. said they'll keep working in Russia after President Vladimir Putin’s government agreed to consider easing demands that were made on the payment systems after the U.S. imposed sanctions. more »
Image: ThinkStock
Jumio is working with the European Bitcoin exchange Safello to provide faster verification of customers. more »
Image: Bloomberg News
Visa Inc. and MasterCard Inc. have about six weeks to decide whether a new Russian law requiring them to pay hundreds of millions of dollars to operate in that country is worth the cost. For now, Visa's answer is nyet. more »
Image: Bloomberg News
Pranab Mukherjee
India launched its new payment system, RuPay, this week to provide a low-cost card network to rival Visa and MasterCard. more »
Image: ShutterStock
Alibaba Group Holding Ltd., which rode China's emergence as an economic superpower over the past 15 years to become a massive online marketplace for everything from forks to forklifts, filed today for what could become the largest U.S. initial public offering ever. more »
Images: Bloomberg News
Ajay Banga
The fallout from Russia's encroachment into Ukraine has reached MasterCard's headquarters in Purchase, N.Y., where the card network’s top executives expressed concern about lost business and Russia's moves to localize its payments infrastructure in response to sanctions from the West. more »

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