China Pay has signed an agent agreement with Travelex under which Travelex Money Transfer (TMT) will be the first money transfer company to offer payments from overseas directly to individual bank card accounts in China. This service will be available to all 500 million cardholders of China Pay’s member banks. Travelex also launched fxpaynet, an online foreign exchange payment platform designed to simplify the management of global payments and currency exposures for corporates and financial institutions. Customers using fxpaynet will be able to manage their currency exposure by booking forward and drawing down on forwards online, said Travelex. fxpaynet will be made available to third party banks around the world as a private-labelled solution.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.