#remittance — Public Fediverse posts

The #war on #Iran endangers not just the people of the Gulf, but also tens of millions of people who rely on #income from the region.

#India has over 9 million workers in the #PersianGulf, and #Pakistan nearly 5 million. Their remittances support four or five times that many people back home.

https://aje.news/qwj6wx #remittance #labour #labor #IranWar

Fintech companies have entered cross-border payments by building closed-loop networks that bypass parts of the traditional correspondent banking chain, offering faster speeds, lower costs, and greater transparency.

#Fintech #CrossBorderPayments #Remittance

Western Union has returned the money to my account.

Still failing to transfer $AUD 500 to South Africa.

This is ridiculous.
Happy side: It is not an emergency. But it could be and the systems are garbage.
#InternationalMoneyTransfer #Remittance #WesternUnion #InternationalBanking #WU

U.S. Bank SoFi Adds Bitcoin Transfers With Lightspark Integration - TLDR:

SoFi will let users send money abroad using blockchain, starting with Mexic... - https://blockonomi.com/u-s-bank-sofi-adds-bitcoin-transfers-with-lightspark-integration/ #lightningnetwork #blockchain #lightspark #remittance #fintech #bitcoin #crypto #sofi #uma

https://theconversation.com/us-and-european-economies-depend-heavily-on-immigrants-decades-of-data-reveal-just-how-much-261508

#Immigration does a lot of good. Yet the sentiment is against it. 🤷‍♂️

#humanrights #democracy #climatechange #adaptation #migration #justice #remittance #development

Another post on my current issue with operating an #Etsy store in #Canada.

I want to explain exactly what the issue is, and see if any #Canadian #sellers know how to deal with this problem.

1. If you hit a certain sales threshold, Etsy demands you add your "taxpayer ID" to your account. This is your GST registration number, usually.

2. Once you add this to your account, Etsy stops collecting all sales taxes on purchases in Canada *except* the provincial sales tax from B.C., Manitoba, and Saskatchewan. It doesn't add GST or HST to sales. They tell you to submit it yourself from the sale proceeds.

3. Etsy provides no way to set #prices differently for different #provinces. Tax rates vary across Canada, from 5% GST in Alberta and the territories, to 15% HST in the maritime provinces.

4. So you have to pick a price that will allow you to take ~15% off each sale to remit as #taxes without losing money on each sale - but this higher price will be higher than it needs to be for provinces with lower tax rates, and even worse will have PST added on top for 3 provinces, jacking the price up even higher.

I ran into this over a year ago, and managed to convince them to take my GST ID off my account (they generally refuse to do this) so they collected the tax again, but they're now demanding I re-add it, which will trigger the above problem again.

Any other Etsy sellers in Canada know how to deal with this problem? Boosts appreciated.

#SalesTax #GST #HST #PST #remittance

#TerraPay, a global #leader in cross-border #money movement, has formed a strategic #partnership with #Tenpay #Global, #Tencent’s cross-border #payment #platform. This collaboration will streamline international #remittance services by enabling direct #transfers to #Weixin #Pay users in #China. With China being one of the largest recipients of #remittances #globally, this move aligns TerraPay with the growing #digital payment #ecosystem in the country. https://cnbusinessforum.com/terrapay-and-tenpay-global-join-forces-to-enhance-cross-border-payments-in-china/

Thailand's oldest bank announces stablecoin remittance services - The Siam Commercial Bank Public Company, founded in 1907, was the first ... - https://cointelegraph.com/news/thailand-commercial-bank-announces-stablecoin-remittance-services #stablecoins.thailand #siamcommercialbank #remittance

Nayib Bukele meets Elon Musk at Tesla to discuss AI, future of humanity - President Bukele visits Tesla to discuss the future of AI, Bitcoin, and ... - https://cointelegraph.com/news/nayib-bukele-elon-musk-meet-tesla-ai-bitcoin #unitednationsgeneralassembly #nayibbukele #elsalvador #cathiewood #futuretech #remittance #arkinvest #elonmusk #bitcoin #tesla #ai

Opportunities For #Bitcoin #Remittance in West #Africa
https://bitcoinmagazine.com/culture/opportunities-for-bitcoin-remittance-in-west-africa

India received most #remittance revenues in 2023 but Tajikistan was most dependent on them. France was the 5th destination for remittances last year. #economy #economics #migrants #news
https://www.news-cafe.eu/?go=news&n=13249

Binance Launches ‘Send Cash’ Remittance Services in Latam - Binance, the largest cryptocurrency exchange by volumes traded, has announced the ... - https://news.bitcoin.com/binance-launches-send-cash-remittance-services-in-latam/ #bankaccounts #binancelatam #mastercard #remittance #sendcash #binance #crypto #minlin #latam #news

Can #Bitcoin #Lightning Solve The #Remittance Industry? https://tchlp.com/3NO1sEK

Australia marks first FX transaction using a CBDC as eAUD pilot continues - The Australian digital dollar was used in a trade for a U.S. doll... - https://cointelegraph.com/news/australia-uses-cbdc-in-fx-transaction-pilot-test #centralbankdigitalcurrency #australiancbdc #remittance #settlement #cbdcpilot #australia #cryptofx #eaud #usdc #rba #fx

Kenya considers tax on crypto, NFT transfers and online influencers - A bill introduced in Kenya could see a tax added to cryptocurrenc... - https://cointelegraph.com/news/kenya-considers-tax-on-crypto-nft-transfers-and-online-influencers #cryptoinafrica #transfertax #remittance #cryptotax #africa #kenya #tax

Migrants sent home $800B last year. India received $100B and Mexico got $60B. 💸

#remittance #TheEconomist

https://www.economist.com/the-economist-explains/2023/03/20/how-remittances-affect-a-countrys-development

Crypto Accounts for Less Than 2% of El Salvador’s Remittances – Has BTC Adoption Plan ‘Failed?’ - Crypto accounts for less than 2% of all of the remittances made to El Salvador, new gover... - https://cryptonews.com/news/crypto-accounts-for-less-than-2-of-all-el-salvadors-remittances-btc-adoption-plan-failed.htm #blockchainnews #elsalvador #remittance

Don’t count on remittance
https://kathmandupost.com/columns/2022/12/28/don-t-count-on-remittance

"Recent data shows that 78.9 percent of the remittance received is spent on daily consumption, 7.1 percent on loan repayment, 4.5 percent on household property and 3.5 percent on education. Only 2.4 percent of the remittance is spent on capital formation."

#nepal #economy #jobs #remittance

Kenya’s Wapi Pay raises $2.2M pre-seed for cross-border payments between Africa and Asia - According to the World Bank, it is more expensive to send money to sub-Saharan Afr... - http://feedproxy.google.com/~r/Techcrunch/~3/HylXKOOTzfw/ #paymentsgateway #eastafrica #remittance #southasia #payments #wapipay #africa #asia #tc

Accel-backed mobile money platform NALA to start offering remittance services to East Africa - According to a McKinsey report, the total number of mobile money services worldwide was 282 in 2017,... - http://feedproxy.google.com/~r/Techcrunch/~3/Y0fxEaUBx7w/ #mobilepayments #ycombinator #eastafrica #remittance #payments #tanzania #finance #africa #uganda #accel #kenya #monzo #nala #tc