Latest news with #digitalremittance
Arab News
2 days ago
- Business
- Arab News
Islamabad plans digital remittance solutions for Pakistanis in Gulf via PayPak scheme
KARACHI: The Pakistani government is planning to facilitate overseas Pakistanis, particularly those in Gulf countries, by providing a technological solution that would enable them to send remittances through a domestic payment scheme, PayPak, the 1Link payment gateway system said on Monday, citing the Prime Minister Youth Programme (PMYP) chief said on Monday. PMYP Chairman Rana Mashhood Ahmad Khan said this in a recent meeting with stakeholders, including 1Link CEO Najeeb Agrawalla and Pakistan Freelancers Association (PAFLA) Chairman Ibrahim Amin, in the country's commercial capital of Karachi. Pakistan received over $38.3 billion in remittances from different countries in the financial year ending in June, with Pakistanis residing in Gulf countries contributing a major share to this amount. Khan said the government was working extensively to serve Pakistanis in the country and overseas by addressing their core issues through innovative, technological and affordable means. 'The government is keen to explore strategic collaboration on empowering overseas Pakistani youth through digital remittance services and expanding PayPak's reach under the Prime Minister's Youth Programme,' he was quoted as saying by 1Link. Khan said Pakistanis living abroad were playing commendable role in contributing to the economy and the PM Digital Youth Hub was exploring various options to honor their services with dedicated facilities and offerings. Launched in 2016 by 1Link, PayPak is Pakistan's first and the only domestic payment scheme (DPS), making Pakistan the 28th country in the world to have its own domestic payment system. It aims to spur financial inclusion and digitization across the country. 'We aim to take initiatives to facilitate secure and structured remittance flows from non-resident Pakistani workers, especially those based in Saudi Arabia, UAE and other Gulf countries, while also promoting the use of PayPak for Hajj, Umrah, and other cross-border transactions including 1Bill service for non-resident Pakistanis,' 1Link CEO Agrawalla said. As a major payment service provider, he said, 1Link proposed extending its technological expertise and platform capabilities to support the development and implementation of both initiatives. PAFLA Chairman Amin said there were over 4 million Pakistanis residing in Gulf countries who had been contributing to the economy through their hard-earned income, adding that many of them lacked access to reliable, user-friendly technological payment solutions. 'PAFLA, in collaboration with Pakistani diplomatic missions, Pakistan's banks, and different agencies, will do its best efforts to approach freelancers, blue- and white-collar Pakistani workers through outreach and engagement efforts across Gulf countries,' he said.
Yahoo
09-07-2025
- Business
- Yahoo
5 Must-Read Analyst Questions From Remitly's Q1 Earnings Call
Remitly entered 2025 with notable momentum, as the company's first quarter results were well received by the market. Management attributed the strong performance to a combination of expanding customer engagement, targeted product enhancements for high-value senders, and efficiency gains in marketing spend. CEO Matt Oppenheimer highlighted the company's ability to deliver 'frictionless experiences' and tailor send limits, which supported a significant increase in send volume per user. Additionally, improvements in direct partner integrations helped speed up transactions and lower costs, reinforcing Remitly's position in the digital remittance market. Is now the time to buy RELY? Find out in our full research report (it's free). Revenue: $361.6 million vs analyst estimates of $347.5 million (34.4% year-on-year growth, 4.1% beat) Adjusted EPS: $0.19 vs analyst estimates of $0.17 (11.9% beat) Adjusted EBITDA: $58.43 million vs analyst estimates of $39.15 million (16.2% margin, 49.2% beat) The company slightly lifted its revenue guidance for the full year to $1.58 billion at the midpoint from $1.57 billion EBITDA guidance for the full year is $202.5 million at the midpoint, above analyst estimates of $197.2 million Operating Margin: 3.4%, up from -7.4% in the same quarter last year Active Customers: 8.04 million, up 1.83 million year on year Market Capitalization: $3.74 billion While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Tien-Tsin Huang (JPMorgan) asked about the drivers behind the increase in send volume per active user. CFO Vikas Mehta pointed to higher engagement, growth in high-amount senders, and tailored product experiences for larger transactions. Andrew Schmidt (Citi) inquired whether improvements in volume per user were driven by internal initiatives or environmental factors. Mehta replied that the growth was mainly self-driven, with cohort retention and product improvements providing high visibility and confidence. Chris Kennedy (William Blair) sought more detail on direct partner integrations and their benefits. CEO Matt Oppenheimer highlighted faster, lower-cost, and more reliable transactions, emphasizing the impact on customer experience and retention. Ramsey El-Assal (Barclays) asked about strategies to attract high-dollar and micro business customers. Oppenheimer described tailored marketing and product changes, including improved KYC (Know Your Customer) processes for specific segments. David Scharf (Citizens Capital Markets) questioned the sustainability of margin gains and potential one-time expense benefits. Mehta explained that Q1 benefited from efficient marketing, but investments would increase in Q2 and beyond to support long-term growth. Over the coming quarters, the StockStory team will monitor (1) the pace of adoption and transaction growth from high-amount senders and micro business customers, (2) the success of new market and product launches such as WhatsApp Send, and (3) the sustainability of operational efficiency gains as marketing and technology investments increase. Trends in customer retention and competitive dynamics in key corridors will also serve as important indicators of Remitly's execution. Remitly currently trades at $18.34, down from $21.09 just before the earnings. At this price, is it a buy or sell? Find out in our full research report (it's free). Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
Zawya
13-05-2025
- Business
- Zawya
Blue Remit Limited and Saad Exchange join forces to drive Innovation in Cross-Border Digital Payments
Dubai, UAE – Blue Remit Limited, a subsidiary of Al Ansari Financial Services PJSC, one of the fastest-growing digital remittance players, has partnered with Saad Exchange, a leading cross-border remittance provider in the UAE. This strategic alliance aims to expand access to secure, seamless, and compliant cross-border digital payment solutions through a wide variety of accessible channels for customers. The agreement was officially signed during the Dubai Fintech Summit 2025, where senior leaders from both organisations highlighted their shared vision for digital transformation, enhanced customer experience, and continued growth within the UAE's financial ecosystem. By combining Blue Remit's cutting-edge fintech capabilities and deep-rooted legacy, with Saad Exchange's strong market presence in the country, the collaboration aims to deliver a range of digitally enabled financial products. These offerings will be designed to meet the evolving needs of consumers seeking reliable, efficient, and instant cross-border money transfers. 'We are excited to partner with Saad Exchange to support their aspirations in the cross-border remittance space, being an agile partner like us.' said Omer Farooq, Director of Operations, Blue Remit Limited. 'This collaboration not only reinforces our commitment to ensuring seamless instant remittances but also adds more value to our users through enhanced credibility, regulatory strength, and innovation.' Muhammad Faiz Alam, CEO of Saad Exchange, stated: 'Partnering with Blue Remit marks a significant milestone in our journey to modernise traditional financial services. Together, we aim to support the UAE's ambition of becoming a global fintech hub by developing impactful, future-ready solutions tailored to the needs of our communities.'
