Remittances

Cross-border remittance service CurrencyFair has acquired Hong Kong payments company Convoy Payments.

dtcpay, a significant player in the digital payments sector, has teamed up with PlatON, recognized for its pioneering efforts in privacy-preserving digital public infrastructure, and Tonghua International’s Allinpay International, a global FinTech payments solutions.

A report by FinTech Rapyd has found 93% of businesses see cross-border commerce as a high priority for 2022 and beyond.

Digital bank Stori closed a $32m Series B funding round to fuel the credit card payment industry for masses in Mexico.

Israeli FinTech Rewire closed a $20m Series B funding round led by crowdfunding platform OurCrowd to expand its cross-border international banking service for migrant workers.

Vista Equity Partners has agreed to acquire Alegeus, a healthcare payments processor, from Lightyear Capital, for an undisclosed amount.

Having lost some of its founding members when the public scrutiny got fierce, the Libra Association has now added Checkout.com to its membership as things seem to be moving faster for the cryptocurrency project.

South Korean money transfer operator (MTO), E9pay, has forged a strategic partnership with Currencycloud, a company specialised in simplifying business in a multi-currency world.

Digital payment infrastructure provider PPRO has extended its services to South Korea by integrating with local cards and e-wallet Toss Pay.

The digital payment industry is set to grow to be worth $154.1bn by 2025, according to new research.