TransferWise starts to gain Australian banking licence  

December 02, 2020 | Money Transfer

Written by FinTech Alliance

TransferWise starts to gain Australian banking licence  

TransferWise has acquired a restricted banking licence in Australia.  

In Brief:  

  • The firm, which offers a money transfer service, has been approved to access the country’s real-time payment system.  

  • It’s been issued a permit by the Prudential Regulatory Authority.  

  • This allows TransferWise to offer purchased payment facilities as a “limited authorized deposit-taking institution”. 

What does this mean?  

This is a marker on TransferWise’s journey of expansion into Australia. It's now able to rival PayPal with some of the services it offers in the country.  

Read more here.  

More in Money Transfer

Transferwise, Mastercard plan global expansion  
Money Transfer
August 21, 2020

Transferwise, Mastercard plan global expansion  

Transferwise is expanding its partnership with Mastercard for global card issuance.  ...

TransferWise reportedly worth £4bn
Money Transfer
July 08, 2020

TransferWise reportedly worth £4bn

TransferWise is reaching £4bn valuation as it closes it secondary share sale. In Brief:...

Western Union could buy MoneyGram
Money Transfer
June 03, 2020

Western Union could buy MoneyGram

Western Union has made an offer to buy its main rival MoneyGram. In Brief: The deal, r...

There are no Knowledge Bank in this category

There are no Events in this category