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Latest Money Transfer and Remittance News

Read the latest finance, economic and fintech news.

WSJ: European and US Economies Decline, Recession Looms Ahead

WSJ: European and US Economies Decline, Recession Looms Ahead

In June, European and US economies slowed sharply as soaring food and energy prices weakened demand for other products and services according to business and consumer surveys cited by the Wall Street Journal. This increases the global risk of recessions. High inflation is spreading worldwide and the war in Ukraine has hit global growth. Economies […]

Daniela Kirova | 2 minutes | Friday, 24th June

Industry News

WSJ: European and US Economies Decline, Recession Looms Ahead

WSJ: European and US Economies Decline, Recession Looms Ahead

In June, European and US economies slowed sharply as soaring food and energy prices weakened demand for other products and services according to business and consumer surveys cited by the Wall Street Journal. This increases the global risk of recessions. High inflation is spreading worldwide and the war in Ukraine has hit global growth. Economies […]

Daniela Kirova | 2 minutes | Friday, 24th June
Western Union partners with Mambu for its digital banking business

Western Union partners with Mambu for its digital banking business

Western Union has partnered with Mambu to build a digital banking app – WU+. Through cloud-based technology, Western Union’s new product is aimed at easing the manner in which customers transfer funds, track transactions, and manage their cards. Western Union serves customers from over 200 countries by supporting about 130 currencies across the globe. In its […]

Crispus Nyaga | 2 minutes | Friday, 10th June
Klar, a Mexican neobank, raises $70 million at a $500m valuation

Klar, a Mexican neobank, raises $70 million at a $500m valuation

Digital banking is seeing remarkable growth around the world as many young people. In the past few years, we have seen many neobanks like NuBank, Revolut, Chime, and Monzo become multibillion-dollar companies.  In a statement, Klar, a digital bank based in Mexico said that it had raised $70 million from a group of investors. The […]

Crispus Nyaga | 2 minutes | Thursday, 9th June

Research and Insights

Gen Z Leads the Charge in Making Clothing the Most Purchased Second-Hand Item

Gen Z Leads the Charge in Making Clothing the Most Purchased Second-Hand Item

The global market value for second-hand selling is set to skyrocket in the coming years as sustainability becomes a core focus. MoneyTransfers.com has deep-dived into country-specific data to reveal that clothing is the number one category for items sold second-hand worldwide, and how Gen Z is leading the charge for this shift in consumer behaviour. […]

Yasmin Purnell | 2 minutes | Monday, 20th June
Revealed: Brits hunt for fixed-rate mortgages as interest rates rise

Revealed: Brits hunt for fixed-rate mortgages as interest rates rise

Brits have shown increased interest in fixed-rate mortgages since the Bank of England began rising interest rates in mid-December, research by MoneyTransfers.com found.  The search term ‘fixed rate mortgage’ has risen by 33% in the year to date, versus a 5.6% increase for the term ‘tracker mortgage’. The term ‘interest only mortgage’, which has consistently […]

Yasmin Purnell | 2 minutes | Thursday, 16th June
US Workers Need to Work 13 Minutes Longer To Afford a Big Mac in 2022 vs 10 Years Ago

US Workers Need to Work 13 Minutes Longer To Afford a Big Mac in 2022 vs 10 Years Ago

In the past 10 years, inflation has had a significant impact on the cost of everyday purchases – even including the beloved fast-food industry. MoneyTransfers.com has taken the top 10 most expensive countries to buy a Big Mac in and calculated how long the average worker on national minimum wage would need to work to […]

Yasmin Purnell | 2 minutes | Wednesday, 15th June