TransferWise

TransferWise has partnered with Alipay to expand money remittance options for its users to instantly send Chinese yuan to friends and family in China.

TransferWise once marketed itself as Robin Hood-style rival to banks. Now it sees itself as an ally.

As the global gig economy expands, more workers moving between the U.S. and other countries for jobs or school need ways to handle funds in different currencies.

TransferWise Ltd. leapfrogged fintech startups, more than doubling its valuation to $3.5 billion in a fundraising round that pushes back the need for an initial public offering.

Jenifer Swallow has been here before, feeling the excitement of being in in an industry that was about to change commerce forever.

The payments process isn’t about just checking a box or signing a check anymore; it’s about cultivating genuinely beneficial relationships for all involved that build trust and drive growth, writes Ravi Thakur, senior vice president of business acceleration at Coupa.

Cross-border payment startups like TransferWise and Xoom achieved rapid market growth by enabling consumers in emerging markets to receive funds via mobile wallets, cutting out intermediaries. Now legacy remittance giants Western Union and MoneyGram are improving their own resources to send funds directly to recipients' mobile wallets.

The popularity of technology-driven international transactions are making their way to TransferWise's balance sheet.

While Europe is still making sense of an international Visa outage in early June, fintech disruptor TransferWise experienced its own outage that lasted up to 11 hours on Thursday, with website, app and card payments unavailable to the company’s 1 million-plus users.

London-based TransferWise's business model has been to undercut traditional banks’ foreign transfer fees, and the company's marketing has long emphasized its role as a plucky rival to banks — going so far as to invoke a comparison to Robin Hood. But the company's offering can also benefit the banks that see value in making peace with an upstart.