For a quicker and consumer-friendly remittance service, Visa Inc is working on a proof of concept for Blockchain-based remittance system through its subsidiary Visa Europe.
Investors see in Bitcoin the potential to provide a payment technology that could undermine the dominance of Visa Inc, Western Union or Citigroup Inc in the industry, Bloomberg reported.
Private equity group Apax Partners is considering selling its stake in London-based foreign exchange firm Travelex in the form of a probable initial public offering (IPO), according to two sources.
BitPesa Chief Executive Officer Elizabeth Rossiello claimed that the startup will reduce money remittances transaction costs and its turnaround time, which will challenge major players Western Union and MoneyGram International Inc.
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