Deal done – PayPal has completed its acquisition of Xoom. With Xoom, PayPal has access to 1.5 million active U.S. customers that sent approximately $7.1 billion in the 12 months ending on September 30, 2015 to people in 40 countries such as Mexico, India, the Philippines, China and Brazil.
Great Indian (GI) Retail Group, one of India’s and South East Asia’s leading electronic payment and retail-assisted e-commerce groups, has been acquired Germany’s Wirecard.
Visa has ankled former Acting U.S. Trade Representative Demetrios Marantis as Senior Vice President, Global Government Relations.
As the Pope’s visit is underway, MasterCard has launched the MasterCard Aid Network, an end-to-end, non-financial service designed to streamline aid distribution even in the absence of telecommunications infrastructure. Now, impacted populations can secure basic needs swiftly with the simple dip of a card.
Japan’s JCB continues this year to expand its worldwide acceptance and issuance with new deals in Europe, as well as the LAC, ME and AP regions. Based on current metrics JCB is expected to surpass the US$500 billion in annual transaction value milestone by end-of-year (EOY) 2019. JCB racked up US$223 billion in transaction value last year, according to CardData.
Seattle -based Remitly reported record growth as its customers are now sending more than $500 million annually using its mobile remittance service, the highest rated mobile app of its kind.
Consumers across Southeast Asia and Greater China cited identity theft and ATM-related fraud as the top two security concerns when it comes to electronic payments. About 42% of consumers in Southeast Asia (Indonesia, Malaysia, Philippines, Singapore Thailand, and Vietnam) were most concerned with ATM-related fraud such as a stolen card, card cloning or skimming. In the Greater China markets (China, Hong Kong and Taiwan), this figure was 31%.
Toronto-based TransferTo and PayPal have teamed to offer mobile airtime top-up in Canada. Without any transfer fees, Canadians can now use their PayPal account to instantly top-up prepaid mobile phones of their relatives and friends that are registered with over 400 carriers in more than 100 countries.
Oberthur Technologies (OT) is opening of a new R&D center dedicated to security technologies for Smartphones and Mobile devices based in South Korea. This center will help handset makers deploy secure high-speed mobile services to accompany fast changing mobile users’ behaviors.
HomeSend, a joint venture between MasterCard, eServGlobal and BICS inked a deal with Dialog Axiata to make international remittance services available to millions of consumers across Sri Lanka. HomeSend and Azimo also announced the launch of new mobile wallet services in ten countries throughout Africa and Asia-Pacific – reaching millions of mobile money subscribers.
CardWeb.com’s CardData Reports today features the “Asia Pacific Mobile Money Industry Prospects till 2019 – China and India to Bolster Growth” report by Ken Research.
Seattle-based Remitly has acquired Talio, a mobile messaging company that developed an immersive, one-of-a-kind mobile messaging service for family and friends. Remitly is setting out to redefine money transfers to the developing world by creating a service customers love using.