TransferWise Reports $3.9B In Transaction Volume/Month

London-based money transfer firm TransferWise has revealed that has been profitable for the second year in a row.

One of Europe’s largest FinTech startups, TransferWise reported an annual post-tax net profit of £6.2 million ($8 million USD) for the fiscal year ending March 2018, according to CNBC. Its annual revenue nearly doubled to £117 million during the period, while operating profit came in at £9.5 million. Founded six years ago by Estonian entrepreneurs Taavet Hinrikus and Kristo Käärmann, TransferWise became profitable for the first time in March 2017.

“We’ve proven that FinTech can offer consumers an unbelievable experience at a low price,

Five At Five: Mastercard’s Freight Deal With Stargo

Welcome to Five at Five, your late look at some of the payments and commerce news you might have missed. Today’s stories include a look at Mastercard’s new commercial payments deal, and a fresh look at spending trends for augmented and virtual reality. A new, heavyweight group is looking at the moral and ethical implications of AI, while a new product launch highlights the issue of privacy and data security in connected vehicles. And there is a new financial services partnership in Europe.

Mastercard Partners with Stargo for Freight Payments Solution

With Mastercard’s commercial payment solutions and Stargo’s price optimization

TransferWise Teams Up With Groupe BPCE To Offer In-App Transfers

With a partnership between TransferWise and Groupe BPCE, customers of the European banking group will be able to use TransferWise’s international money transfer service directly through the company’s app. In addition, TransferWise will have access to the banking group’s 15 million retail clients, Reuters reported.

“TransferWise has a mission to make money move around the world as fast and as cheaply as email,” TransferWise co-founder and chief executive Kristo Käärmann said in a statement. “This partnership is a momentous step on that journey.”

The pairing marks the first time that a large banking group in Europe will offer TransferWise’s service directly

TransferWise Adds Batch Payment Capabilities For Corporates

Money transfer company TransferWise is adding batch payment support for payroll and corporate transactions.

Reports in Crowdfund Insider on Tuesday (May 8) said TransferWise has launched batch payments to facilitate up to 1,000 payroll and supplier payments at once. The solution can be used to pay workers, freelancers and vendors across borders with a single file.

The new solution comes as TransferWise noted that $1 billion has been deposited into its account service, reports added. Nearly a third of its U.S. volume comes from small businesses (SMBs), which pay an average fee of between 0.6 percent and 0.9 percent, the

Moneytis Aims To Bring Expedia Like Ease To Money Transfers

Moneytis, the FinTech startup, has created a platform to help consumers find the cheapest foreign exchange services and send money seamlessly, taking a page from travel aggregator websites like Booking.com and Expedia.

According to a news report in TechCrunch, Moneytis’ platform is straightforward, making it less complex for consumers. “I was an expat in China, and Etienne [Tatur] was in Europe. And I was shocked by hidden fees every time I wanted to send money,” Co-Founder and CFO Christophe Lassuyt said in an interview with TechCrunch. “That’s when we listed and compared all solutions out there. Friends quickly asked us

Today in Data: Mobile Payment News

Mobile devices have become the central conduit for most people’s lives in today’s high-tech world.

With most people carrying their smartphones at all times, it has become one of the better ways of both making purchases on the consumer side and reaching out to target audiences on the retailer side. As such, it seems as though there will be no end in sight for the forward movement of mobile payments.

Today’s news sees the potential of Samsung offering its Samsung Pay to devices outside its own offerings with TransferWise supporting Apple Pay and TGI Fridays joining the mobile order-ahead game.

TransferWise Will Support Apple Pay In The US, Other Countries

TransferWise, the FinTech that allows its users to send money internationally, will soon support Apple Pay.

According to a report in Reuters, which cited TransferWire, the payments company is supporting Apple Pay in an effort to make international money transfers simpler and more secure. TransferWise is enabling the payment service in the USA as well as other countries. In fact, it has been supporting Apple Pay in the U.K. since 2015, according to Reuters.

Users who own Apple devices will not need to input a payment card or personal bank account details into the TransferWise platform. Instead, they will

TransferWise Co-Founders Switch CEO Role

TransferWise, the U.K. FinTech startup, announced news on Tuesday (July 18) that the two co-founders have switch the CEO role.

According to a blog post from co-founder Taavet Hinrikus, Kristo Kaarmann, the other founder, is taking over as the CEO of the money transfer startup. Hinrikus said in the post that in order for TransferWise to have the biggest impact, it has to not only be financially successful but also sustainable.  

“What was an idea seven years ago is now a company that will do $100M+ in annual revenue. Next up $1B in revenue? In a few years,