Wirecard’s newest service enables money transfers from migrants

In an attempt to take its share of the exploding cross-border payments market, which hit about $600 billion last year according to some estimates, Wirecard is launching a new mobile money remittance service in Europe, targeting consumers including unbanked migrants sending funds home, writes Paybefore (Banking Technology‘s sister publication). The service, crafted in conjunction with TransferTo, a cross-border B2B mobile payments network, enables mobile money operators from developing countries to set up in Europe quickly without creating formal business operations there, the two companies say. Read more: Bankingtech.com