Today in payments around the world, First Abu Dhabi Bank is selling its stake in payments division Magnanti and PayMyTuition partners with dLocal on international tuition payments. Plus, KYODIA and Western Union team up on cross-border B2B money transfers and FAT Brands is opening 70 ghost kitchens across the Middle East.
KYODAI Collabs with Western Union for Cross-Border B2B Payments in Japan
Tokyo’s KYODAI Remittance has partnered with Western Union on cross-border, business-to-business (B2B) money transfers for Japanese corporate clients, marking the first time WU is working with a Japanese money transfer provider on corporate B2B cross-border payments.
KYODAI will utilize Western Union Business Solutions, initially implementing WU GlobalPay for Financial Institutions, which offers business clients the ability to make international transfers using direct and reliable payment routes.
First Abu Dhabi to Sell Stake in $1B Payments Unit
United Arab Emirates bank First Abu Dhabi Bank (FAB), a public joint stock company and the largest bank in the UAE, plans to sell its stake in payments division Magnati, Bloomberg reported.
The report said that FAB is teaming up with Morgan Stanley to find investors and the bank could hold on to a piece of $1 billion Magnati as part of any deal. Talks are still in progress, according to the report.
PayMyTuition, dLocal Team up for International Tuition Payments
Payment processing provider PayMyTuition on Tuesday (Sept. 7) unveiled a partnership with international cross-border payments platform dLocal.
The collaboration increases PayMyTuition’s ability to accept bank transfers from Mexico, Argentina, Peru and Nigeria, and will help to consolidate dLocal’s 600 payment method capabilities across more than 600 universities in the U.S. and Canada.
FAT Brands Brings 70 Virtual Locations to the Middle East as Ghost Kitchen Expansion Trend Goes Global
FAT Brands, the restaurant group and the parent company of Fatburger, Johnny Rockets and Hurricane Grill & Wings, among others, announced Tuesday (Sept. 7) will open 70 ghost kitchens in the Middle East, as part of a deal bringing more than 200 new locations to the area.
The FAT Brands ghost kitchen deal includes the United Arab Emirates, Saudi Arabia, Bahrain, Qatar and Kuwait and the locations will open over the next five years. The kitchens will be integrated into franchisee Kitopi’s existing 70-plus virtual kitchen infrastructure.