Viber And Western Union Create Mobile Remittance Solution Despite Cheaper Bitcoin Option
Mobile payment solutions are the new hype right now, as consumers from all over the world are looking for more convenient ways to pay for goods and services. No one would have expected Viber to become a major player in the financial world anytime soon, but their recent partnership with Western Union shakes things up quite a bit. While Bitcoin remains a cheaper remittance solution, this partnership has a lot of potential. Mobile Remittance With Viber. In this day and age, there are so many different social messaging applications that it becomes hard to keep track of them all. Viber is one....
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Bitcoin could cause trouble for Western Union. New cryptocurrencies like Bitcoin are disruptive by their very nature. They allow for cheaper, faster, and easier payments than any system can currently do. Market leaders in remittances, banking, and investing, could have their world turned upside down by the new Bitcoin ecosystem! Since Bitcoin allows for many banking or payment transfer “functions” to be automated by user created applications (similar to apps. in the iTunes app. store), some believe that these currencies could disrupt industry leaders like Western Union and Paypal in a same....
It is rather striking to see the average cost of Western Union transfers has remained virtually unchanged since 2014. A rather strange development, considering other providers managed to reduce their fees in the same period. Western Union Money Transfer In a new report by FXCompared, it has become evident the money transfer business is starting to lose momentum. In most cases, sending money around the world remains a very expensive business. Up-and-coming solutions such as cheaper remittance, and even cryptocurrencies, present far cheaper and global options. Mostly Western Union is losing....
In the world of cash-transfers, few other companies come to mind as instantaneously as Western Union. If you’ve walked in a convenience store anywhere between the west and east coast of the United States, you’ve probably seen a banner for Western Union. The remittance provider is currently facing a preliminary antitrust inquiry as the EU examines allegations of Western Union intentionally driving rivals out of business. Allegedly, Western Union is giving their retail outlet partners contracts with exclusivity contracts in them which don’t allow other cash-transfer services to operate....
As new U.S. government measures that impose restrictions on remittances to Cuba becomes effective after November 22, Western Union, which has been operating in the island nation since 1999, will close shop. The new rule, which was published on October 27, gave Western Union 30 days to implement new restrictions. The new rule is likely to increase the appeal of crypto assets as Cubans are now expected to find a suitable alternative in a very short space of time. Targeted Sanctions At the time of the initial U.S. government announcement, the global remittances giant had promised to find a....
Joseph Joel Bayaua is employed as a private driver by a family in Hong Kong. He has worked in the special administrative region for four years. When Bayaua sends part of his earnings back to his family in Santiago, a city of 132,000 people in the Philippines' northern Isabela province, he selects either a Western Union money transfer or an inter-bank transfer. He usually ends up choosing Western Union. Bayaua explained: "Both methods of sending money are basically the same. They just differ sometimes by the rate of their transfer fees, but I prefer Western Union over bank-to-bank transfer....