Fintech PR

Sendwave Announces Sendwave Pay for US Customers

Published

1 year ago

June 27, 2023

This new banking product allows users to earn interest, pay reduced fees on international remittances and get reimbursement of international transaction fees when using the card outside the US

BOSTON, June 27, 2023 /PRNewswire/ — Today, Sendwave, the remittance brand making sending money across borders easy and affordable, announces Sendwave Pay. Sendwave Pay is a banking product available to select Sendwave customers based in the United States.

Sendwave Pay provides existing Sendwave users access to a FDIC-insured bank account* with an accompanying debit card. This makes Sendwave the only major remittance provider with such an offering in the US.

Account holders will have:

a bank account* with no hidden account creation, maintenance or minimum balance fees;
access to up to 0.4% improvement on exchange rates and up to 25% savings on transaction fees on remittances to Kenya, Ghana, Tanzania, Uganda, Nigeria, and Liberia when using the funds in their accounts account funds;
a Sendwave Pay debit card to use on every day transactions;
reimbursements for international transaction fees when using their Sendwave Pay debit card outside of the US;
earn up to 0.51% APY on the money held in their Sendwave Pay account

For migrants, opening a bank account is an important step to establishing themselves and helps to achieve financial autonomy. Sendwave Pay provides an opportunity for our customers to build cross-border wealth and recognizes the demand for a product that better serves customers’ needs than a standard bank account.

“The way that people use and access money has drastically changed over the last decade,” said Eric Huynh, Product Lead, Sendwave Pay, Zepz. “We created Sendwave Pay to better meet the needs of our customers, who are dynamically considering how they manage their money both for themselves and for loved ones abroad.”

Sendwave Pay is the first neobank offering within Zepz, the Group powering global remittance brands Sendwave and WorldRemit. As an organisation dedicated to providing millions of customers around the world with fast, safe and easy-to-use solutions for getting their money home to loved ones,

Sendwave Pay is an important product innovation within the portfolio. This product offering is the first of an exciting future, where Zepz intends to continually invest in migrant-focused financial offerings.

“Investing in meaningful innovations to serve the needs of cross-border communities is part of our purpose and at the heart of everything we do,” said Mark Lenhard, CEO of Zepz. “Sendwave Pay enables US-based migrants to take their money farther, creates financial empowerment through interest schemes and competitive benefits, and firmly establishes Sendwave as a heavy hitter in the fintech space.”

Sendwave Pay is being rolled out to select users via the Sendwave app, available on iOS and Android.

*Sendwave is a financial technology company and is not a bank. Banking services provided by Piermont Bank; Member FDIC. The Sendwave Visa^® Debit Card is issued by Piermont Bank pursuant to a licence from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.

About Sendwave Pay
Sendwave’s mission is to make sending money as easy and affordable as sending a text. Our app sends transfers securely from North America and Europe to Africa, Asia and the Americas. Sendwave is committed to reaching more people around the world, which is why we created Sendwave Pay, a unique neobank product available to select Sendwave customers based in the United States. With Sendwave Pay, users have access to better rates and lower fees on all remittances from the US to Kenya, Ghana, Tanzania, Uganda, Nigeria and Liberia. Financial inclusivity is a pillar of our brand, and Sendwave Pay is a key product in our portfolio that enables users to earn up to interest monthly on the monies held in their Sendwave Pay account. We believe in borderless access to funds, so users can benefit from reimbursements for international charges when using their Sendwave Pay debit card outside of the US.

Sendwave Pay is designed to help immigrants build wealth that they can access across borders.

*Sendwave Pay is the first neobank offering within Zepz, the Group powering global remittance brands WorldRemit and SendWave. Sendwave is a financial technology company and is not a bank. Banking services provided by Piermont Bank; Member FDIC. The Sendwave Visa® Debit Card is issued by Piermont Bank pursuant to a licence from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.

About Zepz
Zepz Group is the group powering leading global remittance brands: WorldRemit and Sendwave. Since 2021, Zepz Group has been disrupting an industry previously dominated by offline legacy players by reducing the barriers to finance and increasing safety and convenience for users. Every day, Zepz Group and its brands work towards unlocking the prosperity of cross-border communities through finance and technology – driven by the vision of a world that celebrates migrants’ impact on prosperity, at home and abroad.

Media Contact:
Kelsey Costales
[email protected]

View original content:https://www.prnewswire.co.uk/news-releases/sendwave-announces-sendwave-pay-for-us-customers-301864026.html

Fintech PR

Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region

Published

2 hours ago

November 24, 2024

CISION (PR Newswire)

wahed-appoints-khalid-al-jassim-as-executive-chairman-of-wahed-mena-to-help-guide-the-strategic-growth-of-wahed-in-the-region

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.

On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”

Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.

His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.

As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.

Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”

About Wahed

Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.

For more information, visit: www.wahed.com

Photo – https://mma.prnewswire.com/media/2566076/Wahed_MENA_Khalid_Al_Jassim.jpg

View original content:https://www.prnewswire.co.uk/news-releases/wahed-appoints-khalid-al-jassim-as-executive-chairman-of-wahed-mena-to-help-guide-the-strategic-growth-of-wahed-in-the-region-302314779.html

Fintech PR

Qatar Development Bank announces strategic investment in global Islamic FinTech, Wahed

Published

2 hours ago

November 24, 2024

CISION (PR Newswire)

qatar-development-bank-announces-strategic-investment-in-global-islamic-fintech,-wahed

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.

Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.

Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.

Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”

About Wahed

For more information, visit: www.wahed.com

About Qatar Development Bank

Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.

For more information, visit: https://www.qdb.qa/

Photo – https://mma.prnewswire.com/media/2566075/Qatar_Development_Bank_Announcement.jpg

View original content:https://www.prnewswire.co.uk/news-releases/qatar-development-bank-announces-strategic-investment-in-global-islamic-fintech-wahed-302314778.html

Fintech PR

China’s AIMA brand electric motorbike is now in Bangladesh

Published

15 hours ago

November 23, 2024

CISION (PR Newswire)

DHAKA, Bangladesh, Nov. 23, 2024 /PRNewswire/ — With the popularity of electric vehicles in Bangladesh, the globally renowned AIMA brand has also arrived in Bangladesh. The esteemed DX Group has brought the AIMA F-626 to customers. This environmentally friendly battery-operated electric motorbike has already been approved by the Bangladesh Road Transport Authority (BRTA) now.

In light of the increasing popularity of electric motorcycles in the country, the internationally-leading brand AIMA has entered the market. By the end of 2023, AIMA electric two-wheelers had established a presence in over 50 countries worldwide, with 11 global production bases, including overseas factories in Indonesia and Vietnam. In 2022, AIMA collaborated with Rob Janoff, the designer of the Apple logo, to refresh the brand’s VI system with a youthful and fashionable image. In 2023, AIMA teamed up with PANTONE, the global authority in color expertise, to create the trending color of the year. As an industry leader, AIMA spearheads the electric two-wheeler sector and showcases the prowess of a leading electric two-wheeler brand on a global scale. As of March 31, 2024, AIMA’s total electric two-wheeler sales had reached 80 million units, earning certification from Frost & Sullivan, a globally recognized business growth consulting firm, as the “Global Leading Electric Two-wheeler Brand”.

Over the years, AIMA has always been a product trendsetter in the electric two-wheeler sector. As of March 31, 2024, the total sales volume of AIMA electric two-wheelers reached 80 million, and Frost & Sullivan, a world-renowned market consulting company, awarded AIMA with the market status certification of the “Global Leading Electric Two-wheeler Brand (by Sales)”.

AIMA adhere to the customer-centered product philosophy and technologies that support long-term innovation and breakthroughs. We believe that the efficiency and modern technology of the AIMA F-626 will present an excellent alternative means of communication for our customers.