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Brett Dvoretz

May 2, 2015

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International Money Transfer News Weekly Update 5/1/2015

Richard Branson, Peter Thiel take aim at Western Union

TransferWise, a new fintech company backed by big names like Richard Branson and venture capitalist firm Peter Thiel, is making it easier and cheaper for Americans to send money overseas. The company basically acts as a matchmaker for people looking to move money and sidesteps the big banks who, in the past, would have taken a large percentage for the service. Currently they work with 22 currencies and hope to put brick and mortar businesses like Western Union out to pasture. Read more…

 

Money Transfer Conference in Istanbul invites Bitcoin Remittance Companies

This upcoming May, Istanbul will play host to the International Money Transfer Conference (IMTC) which brings together all the major players in the industry. In the past, this has included a mix of telcos, banks, and mobile network operators, but this year Bitcoin remittance startups are making an appearance too. The IMTC is putting a heavy focus on digital payments and the first day of the conference will feature MTBIT who has been invited to showcase their new remittance products. Read the interview with IMTC director Hugo Cuevas-Mohr…

 

WireCash Launches First and Only Online International Money Transfer Marketplace for US Residents

The first and only online money transfer marketplace has been launched by WireCash. They have integrated a number of recognizable traditional offline companies into their platform to provide US residents access to their services. Now, with one easy login, consumers can compare and complete money transfers based on price, brand, payout options, and more. Their goal is to connect online consumers with services that were previously only available offline to people able to visit brick and mortar locations. Currently, nearly 75% of the US money transfer market is controlled 400 companies who aren’t operating online. Read more…

 

Exchange Rate News Today: GBP Strengthens, EUR Ticks Higher and USD Plummets

Find out what’s happening in the Forex markets. The GBP is gaining ground despite a sluggish economy. The EUR exchange rate is edging higher as Varoufakis gets replaced by the Minister of Finance Tsakalotos. The USD is sliding on dampening consumer confidence. The AUS$ is rallying. All this and more. Read the latest news….

 

The Year Of Mobile Payments

2015 is being called the year of mobile payments as more and more large name players enter the marketplace. Facebook, Google, Square, Amazon, and more have all recently launched new apps that allow consumers to use their mobile phones to transfer money to friends and family. While many people may assume the mobile payment industry is just taking off, it is actually lagging 10 years behind. The latest report by InfoScout revealed that 85% of iPhone 6 users have never even tried Apply Pay. IN the developing world however, mobile payments have taken a different path. In many countries, mobile payments have become a daily part of life. From Paraguay to Pakistan, mobile payments are rapidly gaining ground. In Latin America, the number of new mobile money accounts grew by 50% in 2014. Read more…

 

GlobeOne Announces LOI with MetaBank to Bring New Mobile Banking Network to United States

The new fintech company, Global One has announced a letter of intent to enter into an agreement with MetaBank in the hopes of bringing a global banking solution to the US later this year. MetaBank is one of the top community banks and top-performing mid-sized banks in the nation. It’s an exciting opportunity for Global One to partner with a leading financial organization to provide a digital ecosystem for a suite of financial services including domestic and international transfers. They plan to include the patent-pending SocialBoost which offers members a unique opportunity to earn income from their banking relationship. Read more…

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