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The companies expect to launch the system in the first quarter of 2016.
Zimbabwe residents recently went through horrific hyper inflation, which eventually led to the abandonment of their national currency altogether. Bitcoin could be the solution not only to Zimbabwe's problems but those of financially underserved populations in Africa.
As payment services organizations continue to drive some of the biggest changes in global payments, how can companies determine which strategies will work best in the future?
Despite Apple, Google and Samsung soaking up all the hype with mobile wallets, the banks are slowly starting to make their own moves.
A new industry survey seeks to understand the priorities, challenges and benefits that payments organizations will encounter as they undertake a "new and renew" transformation in payments.
One long-time industry supporter is exploring the formation of a group that would help promote the benefits of direct carrier billing and mobile money services worldwide.
Dan Glessner, the chief marketing officer at Quisk, wrote a blog post about what the industry can do to help strengthen this sector.
With remittance fees as high as 12 percent, many migrant workers are stuck in a bind. Hence, some migrants are turning to bitcoin "rebittances" as a less expensive alternative.
John A. Cassara, a former U.S. intelligence officer, shares his experiences from his time in Lesotho.
The new system is similar to Apple Pay, but there are some differences in the way Google will present its mobile wallet to consumers.
When Facebook announced Messenger payments in March, some users weren't thrilled about the idea of giving their debit card information to the company. But one security expert believes consumers should be more worried about the safety of their overall digital identity.
MFS Africa and Vodafone expand a partnership it first announced earlier this year.
Travellers can book flights either online or at travel agents and use M-Pesa as a payment option.
This is the second phase of the company's global rollout, following the recent rollout of similar functionality in Europe announced in October.
Western Union said the agreement marks WeChat as the first social communication application to provide a technology platform to support person-to-person cross-border funds transfer capabilities to more than 200 countries and territories.
The Connect API suite offers remittance service providers a single access point to plug into the Terra network to send and receive funds to and from any mobile wallet account.
Xoom will operate as a separate service within PayPal.
Apple is reportedly in discussions with major U.S. banks to develop a mobile person-to-person payments service.
A new solution from Emerging Markets Payments lets people send money from their bank account to unbanked family, friends and others via the ATM network.
Fastacash and Xpress Money have launched a service that enables users to send and receive money through social networks and messaging channels, including Facebook, WeChat, WhatsApp and Twitter.
A group of U.S. banks have announced their intention to reboot their digital payments network, clearXchange, and combine it with Early Warning, a bank-owned fraud prevention and risk management company.
TransferTo said the Mobile Money hub launch means that consumers will be able to send funds in real time to mobile money accounts in Africa, Asia and Latin America.
Through a strategic partnership with TransferTo, the new service will enable Azimo's customers to instantly send airtime to prepaid mobile phones in over 100 countries.
Mobile Payments Today has released its latest survey for the upcoming 2016 Mobile Payments State of the Industry Report.
M-Pesa subscribers in Tanzania can receive funds from MoneyGram into their mobile accounts from customers in more than 120 countries.
The P2P provider wants to make it easier for its users to track payments for clubs and similar organizations.
Mobile remittance promises massive growth worldwide. This research center deals with the latest developments in person-to-person (P2P) mobile money transfers.