PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Wyre Announces Strategic Acquisition of Retail Cross-Border Payments Service to WorldFirst

By PaymentsJournal
August 16, 2018
in Press Releases
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
news

news

SAN FRANCISCO, Thursday, August 16, 2018, <Newswire>/ — Wyre today announced that it entered into a definitive account transfer agreement for the sale of the majority of its retail money transfer business to WorldFirst. The transaction has already completed and the migration process has started. The transaction is part of Wyre’s larger focus for their API-first approach and WorldFirst’s global infrastructure and payment coverage made them a clear choice.

The transaction is expected to see WorldFirst benefit from access to new retail customers who are sending money and paying invoices throughout China, Mexico, Hong Kong, Brazil and the United Kingdom.

Wyre started servicing individual retail businesses in 2016 and has grown the business to over $100MM in yearly processing volume. Wyre’s strategic focus to target a limited number of countries allowed the San Francisco based company to acquire clients within the e-commerce, education, manufacturing, and transportation industry.

“We’re excited about the partnership and it was a clear choice to make the transaction work with WorldFirst,” says Ioannis Giannaros, Chief Operating Officer of Wyre. “Wyre has invested a lot of time building relationships with our clients and we’re confident that WorldFirst has the world-class customer service to help service all of the accounts.”

Founded in 2004, WorldFirst has grown to become one of the largest payments companies in the world. WorldFirst processes over $15 billion a year, offering great rates and award-winning service, with full licensing and a global presence throughout 8 regional offices.

“We value the integrity and dedication behind WorldFirst. They respect the ecosystem, and put their customers front and center at all times.” continues Giannaros, “They combine great rates and award-winning customer service means and it’s no surprise to us that they’re the leader in the industry.”

A purchase amount for the transaction has not been disclosed.

To learn more about Wyre’s services, please go to www.sendwyre.com.

To learn more about WorldFirst and their cross-payment services, please go to www.worldfirst.com.

About WorldFirst

WorldFirst is on a mission to create the world’s best platform for international trade through a unique payments ecosystem that connects importers and exporters globally. As a fast-growing FinTech business, WorldFirst combines best-in-class technology and products with award-winning customer service to make it easier, cheaper and faster to manage money around the world. WorldFirst has helped over 160,000 people, small businesses and online sellers transfer over $95bn since 2004.

WorldFirst operates all over the world and has over 600 employees based in offices in London, Amsterdam, Austin-TX, Hong Kong, Singapore, Tokyo, and Sydney.

About Wyre, Inc.

Wyre utilizes blockchain technology to execute cross-border payments for businesses and individuals faster and cheaper than banks. Founded in 2013 as one of the original Infrastructure 1.0 crypto companies, Wyre has traded $3.5 billion in cryptocurrency assets in-house and have completed more than $750 million in bank-to-bank commercial FX payments. Wyre has expanded its global infrastructure to include relationships with counterparties to procure same-day settlement. Funded by renowned VCs in Silicon Valley, Wyre has users in 50+ countries, with features in Forbes, WSJ, NBC, Bloomberg, Coindesk and more. For more information, please visit www.sendwyre.com.

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: Wyre

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    commercial card, Allpay ClearBank Prepaid Payments, wealth transfer

    How Banks Can Capture the Wealth Transfer from Boomers to Gen Z

    June 20, 2025
    embedded lending

    Embedded Lending as a Growth Strategy for ISVs—How to Maximize Revenue Potential

    June 18, 2025
    merchant ai

    Merchants Find More Use Cases for AI Amid Risks

    June 17, 2025
    prepaid payroll

    Taking the Check Out of Paycheck: The Role of Prepaid in Payroll

    June 16, 2025
    Banking-as-a-service BaaS

    Remodeling Main Street: How Community Banks Can Leverage the Banking-as-a-Service Paradigm

    June 12, 2025
    How Employee Performance Enhances the Customer Experience

    Three Strategies to Maximize Loyalty in the AI-Driven World 

    June 11, 2025
    PFM tools

    How FIs Are Cutting Through Subscription Clutter with PFM Tools

    June 10, 2025
    child identity theft

    Stranger Danger: Protecting Your Children from Identity Theft

    June 9, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result