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Transferwise will allow users in the U.S. and a handful of other countries to send money internationally through Apply Pay. This will further reduce friction but removing the need for users to enter card or bank account details.
It is among the growing cohort of startups that use digital technology to make it easier and cheaper for consumers and businesses to send funds abroad. It currently processes more than $1.2 billion monthly in transfers across 750 currency routes. The company says Apple Pay usage on TransferWise in the UK has been encouraging. Over 10 percent of all TransferWise transactions to and from British Pounds carried out on Apple IOS devices are funded via Apple Pay, the company said. The move comes as payments partnerships increase, as firms including banks, telecommunications providers and large technology companies seek to gain an edge in the highly competitive sector.
