The US Federal Trade Commission sued Walmart for allowing its money transfer services to be used by fraudsters, who fleeced consumers out of hundreds of millions of dollars.

U.S. FTC sues Walmart for allegedly allowing money transfer services for fraud

Western Union announced on Thursday that it would resume its money transfer service to Afghanistan as the Taliban deal with enormous economic hurdles following their takeover last month.

"Western Union is pleased to share that it is resuming its money transfer services into Afghanistan, starting September 2, so that our customers can once again send money and support their loved ones at this time," a spokesperson said.

"We understand the urgent needs of our customers and their families and are committed to supporting them," the spokesperson said, adding that Western Union would waive transfer fees from September 3 through 17.

Remittances from Afghans living abroad are crucial for the impoverished country's economy and amounted to almost $789 billion last year, according to the World Bank.

The Washington-based development bank last week announced it would suspend aid to Afghanistan, saying it was "deeply concerned about the situation in Afghanistan and the impact on the country's development prospects, especially for women."

The IMF announced shortly after the Taliban's takeover that it would suspend its assistance to the country, citing uncertainty surrounding its leadership.

Western Union announced on Thursday that it would resume its money transfer service to Afghanistan as the Taliban deal with enormous economic hurdles following their takeover last month.

Western Union announced on Thursday that it would resume its money transfer service to Afghanistan as the Taliban deal with enormous economic hurdles following their takeover last month. "Western Union is pleased to share that it is resuming its money transfer services into Afghanistan, starting September 2, so that our customers can once again send money and support their loved ones at this time," a spokesperson said. "We understand the urgent needs of our customers and their families and are committed to supporting them," the spokesperson said, adding that Western Union would waive transfer fees from September 3 through 17. Remittances from Afghans living abroad are crucial for the impoverished country's economy and amounted to almost $789 billion last year, according to the World Bank. The Washington-based development bank last week announced it would suspend aid to Afghanistan, saying it was "deeply concerned about the situation in Afghanistan and the impact on the country's development prospects, especially for women." The IMF announced shortly after the Taliban's takeover that it would suspend its assistance to the country, citing uncertainty surrounding its leadership.

Western Union is restarting money transfer services to Afghanistan

US payments company PayPal &lt;PYPL.O&gt; is expanding further in Europe by launching its international money transfers service Xoom in Britain and 31 other countries across the continent.

Xoom allows customers to transfer money abroad to more than 130 markets internationally, including India, Pakistan, Nigeria, Kenya, Poland, and China.

The company said the roll-out would help it grab market share in the $689 billion global remittances market, building on previous launches of the service in the United States and Canada.

Britons alone transfer over $26 billion in remittances overseas annually, many sending money to help family members pay bills.

Xoom partners with major banks and other finance firms to facilitate the money transfers, with customers able to transfer up to 8,800 pounds ($11,029) per transaction.

US payments company PayPal <PYPL.O> is expanding further in Europe by launching its international money transfers service Xoom in Britain and 31 other countries across the continent.

US payments company PayPal <PYPL.O> is expanding further in Europe by launching its international money transfers service Xoom in Britain and 31 other countries across the continent. Xoom allows customers to transfer money abroad to more than 130 markets internationally, including India, Pakistan, Nigeria, Kenya, Poland, and China. The company said the roll-out would help it grab market share in the $689 billion global remittances market, building on previous launches of the service in the United States and Canada. Britons alone transfer over $26 billion in remittances overseas annually, many sending money to help family members pay bills. Xoom partners with major banks and other finance firms to facilitate the money transfers, with customers able to transfer up to 8,800 pounds ($11,029) per transaction.

PayPal launches international money transfer service Xoom across Europe

Earlier this year, State Bank of India (SBI) announced merger of&nbsp;its five associate banks, namely State Bank of Bikaner and Jaipur, State Bank of Patiala, State Bank of Travancore, State Bank of Hyderabad, State Bank of Mysore along with Bhartiya Mahila Bank. With this development, there have been some new changes in the system.&nbsp;

Indian Financial System Code or IFSC and names of the branches have been changed in some of the major cities such as&nbsp;Mumbai, New Delhi, Bengaluru, Chennai, Kolkata, Hyderabad, and Lucknow.&nbsp;

Commenting on the merger and after effects, Praveen Gupta, Managing Director (Retail and Digital Banking), SBI, said, &quot;Some of our old associate branches are getting merged with SBI branches. When that merger happens, the IFSC codes get changed&quot;. He further added, &quot;Even if some payment comes based on the old IFSC codes, it will get mapped to the new codes. It will not cause any problem to any customer&quot;, alluding to internal mapping system of old codes to new codes. &nbsp;

Nearly 1,300 bank branches will be affected by the change. IFSC is significantly important in money transfer methods like RTGS, NEFT, and IMPS. An IFSC is basically a unique alpha-numeric code of 11-digit to identify all bank branches in any RBI regulated funds transfer system. To help their customers, SBI website published the list of all affected branches with their new codes.

Here is the list of new IFSC codes of SBI branches:

&nbsp;

<iframe class="scribd_iframe_embed" data-aspect-ratio="1.2941176470588236" data-auto-height="false" frameborder="0" height="600" id="doc_43281" scrolling="no" src="https://www.scribd.com/embeds/366865869/content?start_page=1&amp;view_mode=scroll&amp;access_key=key-AiYsonYMxCCWmmkpP0wm&amp;show_recommendations=true" title="New SBI IFSC codes" width="100%"></iframe>

Due to the merger of SBI with its five associate banks, names and IFSC of bank branches are to be changed. A list of updated branch names and IFSCs is included.

Earlier this year, State Bank of India (SBI) announced merger of its five associate banks, namely State Bank of Bikaner and Jaipur, State Bank of Patiala, State Bank of Travancore, State Bank of Hyderabad, State Bank of Mysore along with Bhartiya Mahila Bank. With this development, there have been some new changes in the system. Indian Financial System Code or IFSC and names of the branches have been changed in some of the major cities such as Mumbai, New Delhi, Bengaluru, Chennai, Kolkata, Hyderabad, and Lucknow. Commenting on the merger and after effects, Praveen Gupta, Managing Director (Retail and Digital Banking), SBI, said, "Some of our old associate branches are getting merged with SBI branches. When that merger happens, the IFSC codes get changed". He further added, "Even if some payment comes based on the old IFSC codes, it will get mapped to the new codes. It will not cause any problem to any customer", alluding to internal mapping system of old codes to new codes. Nearly 1,300 bank branches will be affected by the change. IFSC is significantly important in money transfer methods like RTGS, NEFT, and IMPS. An IFSC is basically a unique alpha-numeric code of 11-digit to identify all bank branches in any RBI regulated funds transfer system. To help their customers, SBI website published the list of all affected branches with their new codes. Here is the list of new IFSC codes of SBI branches:

SBI changes names and IFSC codes of around 1,300 branches. Here's why

Money transfer company TransferWise has launched a new service that allows users to send money internationally through Facebook&#39;s chat application, as competition in the digital payments landscape intensifies.

The London-based startup said that it had developed a Facebook Messenger &quot;chatbot&quot;, or an automated program that can help users communicate with businesses and carry out tasks such as online purchases.

TransferWise&#39;s chatbot enables customers to send money to friends and family to and from the United States, Britain, Canada, Australia and Europe from Facebook Messenger. It can also be used to set up exchange rate alerts.

Facebook already allows its users to send money domestically in the United States via its Messenger app, but has not yet launched similar services internationally. TransferWise said its service will be the first to enable international money transfers entirely within Messenger.

Facebook opened up its Messenger app to developers to create chatbots in April in a bid to expand its reach in customer service and enterprise transactions.

Chatbots have become a hot topic in enterprise technology over the past year because recent advances in artificial intelligence have made them better at interacting. Businesses, including banks, are hoping that they can be used to improve and reduce the cost of their customer service operations.

One of Europe&#39;s most well-known fintech companies, TransferWise was launched in 2011 by Estonian friends Taavet Hinrikus and Kristo K&auml;&auml;rmann out of frustration with the high fees they were being charged by banks for international money transfers.

The company, which is valued at more than $1 billion, is backed by several high profile investors including Silicon Valley venture fund Andreessen Horowitz, Virgin Group founder Sir Richard Branson, and PayPal co-founders Max Levchin and Peter Thiel, through his fund Valar Ventures.

Customers in more than 50 countries send roughly $1 billion through its website every month.

While the TransferWise chatbot is now only available in Facebook Messenger it can be adapted to work with other popular chat services, Scott Miller, head of global partnerships for TransferWise said. He said the service would eventually be extended to work in other countries and money transfer routes that the company operates in.

The launch comes as competition in the mobile payments and international money transfer sectors intensifies. Earlier this month PayPal Holdings Inc announced its U.S. payments application Venmo would be available within popular chat service Slack.

While in January , Ant Financial Services, an affiliate of Chinese e-commerce company Alibaba Group Holding Ltd, said it would acquire US money-transfer company MoneyGram, in a deal that is expected to shake up the international payments landscape.

(Reuters)

The launch comes as competition in the mobile payments and international money transfer sectors intensifies.

Money transfer company TransferWise has launched a new service that allows users to send money internationally through Facebook's chat application, as competition in the digital payments landscape intensifies. The London-based startup said that it had developed a Facebook Messenger "chatbot", or an automated program that can help users communicate with businesses and carry out tasks such as online purchases. TransferWise's chatbot enables customers to send money to friends and family to and from the United States, Britain, Canada, Australia and Europe from Facebook Messenger. It can also be used to set up exchange rate alerts. Facebook already allows its users to send money domestically in the United States via its Messenger app, but has not yet launched similar services internationally. TransferWise said its service will be the first to enable international money transfers entirely within Messenger. Facebook opened up its Messenger app to developers to create chatbots in April in a bid to expand its reach in customer service and enterprise transactions. Chatbots have become a hot topic in enterprise technology over the past year because recent advances in artificial intelligence have made them better at interacting. Businesses, including banks, are hoping that they can be used to improve and reduce the cost of their customer service operations. One of Europe's most well-known fintech companies, TransferWise was launched in 2011 by Estonian friends Taavet Hinrikus and Kristo Käärmann out of frustration with the high fees they were being charged by banks for international money transfers. The company, which is valued at more than $1 billion, is backed by several high profile investors including Silicon Valley venture fund Andreessen Horowitz, Virgin Group founder Sir Richard Branson, and PayPal co-founders Max Levchin and Peter Thiel, through his fund Valar Ventures. Customers in more than 50 countries send roughly $1 billion through its website every month. While the TransferWise chatbot is now only available in Facebook Messenger it can be adapted to work with other popular chat services, Scott Miller, head of global partnerships for TransferWise said. He said the service would eventually be extended to work in other countries and money transfer routes that the company operates in. The launch comes as competition in the mobile payments and international money transfer sectors intensifies. Earlier this month PayPal Holdings Inc announced its U.S. payments application Venmo would be available within popular chat service Slack. While in January , Ant Financial Services, an affiliate of Chinese e-commerce company Alibaba Group Holding Ltd, said it would acquire US money-transfer company MoneyGram, in a deal that is expected to shake up the international payments landscape. (Reuters)

TransferWise launches international money transfers via Facebook

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