Future FinTech Indicators Definitive Settlement to Buy UK Cash Fee Service Firm

NEW YORK, September 7, 2021 / PRNewswire / – Future FinTech Group Inc. (NASDAQ: FTFT) (“hereinafter referred to as” Future FinTech “,” FTFT “or” the Company “), a leading blockchain-based e-commerce company and fintech Service provider announced today that on September 1, 2021the Company signed a definitive agreement (the “Agreement”) to acquire 100% of the equity of Khyber Money Exchange Ltd. (“Khyber Exchange”) by Rahim Shah | (the seller”).

Khyber Exchange is a money transfer company with a platform to transfer money through one of its agent locations or through its online portal, mobile platform or over the phone. Khyber Exchange was integrated into February 2009, is headquartered in the UK and has offices in Germany and Italy; his website is https://khyberexchange.com.

According to the agreement, the company will acquire 100% of the equity of Khyber Exchange for a purchase price of € 685,000 (approx US $ 820,170). The company conducted extensive operational, legal, and financial due diligence to achieve this agreement. The Khyber Exchange is regulated by the UK’s Financial Conduct Authority (FCA); the acquisition must be approved by the FCA prior to formal closure.

More detailed information about the agreement can be found on Form 8-K and filings with the Securities and Exchange Commission September 7, 2021.

Shanchun Huang, Chief Executive of Future FinTech, commented, “We are excited about this acquisition as it further expands our presence as a fintech and further diversifies our geographic reach in terms of international business transactions and cash flows. We believe there will be synergies with other financial services businesses that we develop. “

“Khyber Exchange will also be an excellent fit for FTFT UK Limited, our recently established subsidiary that provides us with the operational base for developing the fintech business in Europe. Our goal is to become a diversified fintech company that seizes current opportunities and integrates them into a comprehensive business platform, and to create a company that can meet the current financial needs of its customers and positively transform the traditional banking sector to provide innovative products and services to bring to market, ”concluded CEO Huang.

The story goes on

Rahim Shah |, Chief Executive Officer of Khyber Exchange, stated, “As a global money transfer company, Khyber Exchange can send money to over 130 countries through its agents, online portal, mobile platform or over the phone. Fund transfers can be collected from their offices or via the beneficiary’s bank account, with the funds transferred being credited within 24 to 48 hours. Khyber Exchange guarantees its customers that its transactions are executed at the best possible exchange rate, are secure, reliable, and processed instantly. It has amassed a significant number of loyal customers over the past decade. The acquisition by FTFT will help Khyber Exchange run its business and operations in Asiaespecially in the fast growing Chinese market. “

About Future FinTech Group Inc.

Future FinTech Group Inc. (“Future FinTech”, “FTFT” or the “Company”) is a leading blockchain e-commerce company and a Florida-based financial technology service provider. The company’s business activities include a blockchain-based online shopping mall platform, Chain Cloud Mall (“CCM”), a cross-border e-commerce platform (NONOGIRL), an incubator for blockchain-based application projects and financial services for the supply chain industry . The company is also engaged in the development of blockchain-based e-commerce technology as well as financial technology. For more information, please visit https://ftft.com/.

Safe Harbor Statement

Certain statements made in this press release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Stock Exchange Act. Forward-looking statements include statements relating to our beliefs, plans, goals, goals, expectations, expectations, beliefs, estimates, intentions and future performance and involve known and unknown risks, uncertainties and other factors that are beyond our control and are related thereto could cause actual results, performance, capital, property or achievements of the company to differ materially from the future results, performance or achievements expressed or implied in such forward-looking statements. All statements that are not historical facts are statements that may be forward-looking statements. You can make these forward-looking statements through our use of words such as “may”, “will”, “anticipate”, “assume”, “should”, “state”, “would”, “believe”, “consider,” “expect” , “estimate,” “continue,” “plan,” “show,” “project,” “might,” “intend,” “aim,” and other similar words and phrases for the future.

All forward-looking statements, whether written or oral, attributable to us are expressly restricted in their entirety by this caution, including, but not limited to, the risks and uncertainties set out in our Annual Report on Form 10-K for the December 31, 2020 ending Year and our other reports and filings with the SEC. Such reports are available upon request from the Company or the Securities and Exchange Commission, including on the SEC’s web site at https://www.sec.gov. We have no obligation or undertake to update, revise or correct any forward-looking statements after this date or after the respective date on which such statements are otherwise made.

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SOURCE Future FinTech Group Inc.

College students to obtain each day $50 Meal Cash credit score from Aug. 24 to 29 following eating service shortages – The Vanderbilt Hustler

The $ 50 Summer / Vacation Plan credit will expire at the end of each day. Students also receive a one-time credit of $ 15 in their meal money fund that does not expire.

During lunch at the E. Bronson Ingram Dining Hall, the students stood in a row toward Kirkland Hall. Image taken on Aug. 21, 2020. (Courtesy photo by Jason Hwong).

To compensate for the dinner shortage, Campus Dining announced on August 23 that students would receive a $ 50 daily credit from August 24-29, which expires at the end of each day. In addition, they will receive a one-time rollover credit for meal money of $ 15. Dining room dispensers will continue to be available and meal credit can be redeemed at any Taste of Nashville partner restaurant or Grubhub location.

“We’ve heard your feedback and are aware of the unacceptably long lines and product shortages,” said Campus Dining opinion read. “We assume that these expanded options will reduce the workload for both the cafeteria staff and the students, and will enable our operations to build up stocks again for next week.”

Second year Anjali Raman, who tried to use the $ 50 balance today, has been charged through her Meal Money fund, which currently only has the $ 15 balance available, rather than the summer / vacation plan which is currently not visible in the GET app. Campus Dining did not immediately respond to The Hustler’s request for comment on the matter.

Regarding future improvements, Campus Dining said in its statement that it is working to fix supply chain disruptions such as late or incomplete deliveries and other backup issues. In addition, a “Commissary Kitchen” has been built on campus to reduce waiting times for Rand Grab & Go Market orders. Dining rooms will also offer additional food lines to increase service efficiency. Campus Dining did not immediately respond to The Hustler’s request to comment on these changes.

On August 23, E. Bronson Ingram’s (EBI) dining room and Kissam kitchen experienced a food shortage during dinner. Second year Jason Hwong said EBI ended dinner service around 7:00 p.m. CDT, 30 minutes before regular closing. Kissam closed at approximately 7:20 p.m. CDT, 1 hour and 10 minutes before regular closure.

On August 21, Campus Dining closed all dining rooms for dinner service, so students had to purchase dinner off campus with either meal money or personal funds. According to Campus Dining’s website, the student meal plans were activated that day.

Hwong expressed frustration with the decision, citing that early moving students – including RAs, VUceptors, orientation leaders, and new international and transfer students – have relied on dining room access since arriving on campus.

In an email to Campus Dining, Vice Chancellor David ter Kuile and Vice Chancellor of Administration Eric Kopstain, Hwong outlined his concerns about the restaurant operations and copied ten students who were also unable to eat with food punches that evening, and asked to be included in the recording The conversation.

“Those who from the [Aug. 21], regardless of when they moved in, should not be forced to spend meal money or out-of-pocket meals that should be provided by the school, “Hwong said in the email. “We are paying to be able to use these food expenditures, and it is totally unacceptable that no dining rooms are open at a time when the meal plan is in effect.”

In the future, Hwong emphasized the need for a “productive” dialog between students and campus dining.

“I would also like to make it clear that while monetary compensation is an important and necessary step to remedy the previous deficits of Campus Dining, it is more important to implement meaningful changes in the gastronomic offerings that address the problems we have experienced, actually fix it. ”“ Hwong said.

This article will be updated with responses from Campus Dining.

Will a Prime-style subscription service take Albertsons enterprise to a brand new degree? – RetailWire

08/17/2021

Following the playbook of some of the most innovative personalities in retail, Albertsons is launching its own subscription service with a key Amazon Prime-style perk.

The program called FreshPass allows subscribers to get unlimited free grocery deliveries, reports Progressive grocer. FreshPass, an optional service added to Albertsons’ existing apps, costs $ 99 per year or $ 12.99 per month. With a subscription, buyers get free shipping for orders of $ 30 or more.

The grocer is offering a 30-day free trial with a five percent discount on some of its private label products and ongoing perks like food and wine experiences to encourage adoption. Albertsons is also introducing two more new digital offerings – a Deals & Delivery app and an improved loyalty program. The loyalty program called Albertsons For U will automatically include members of the grocer’s previous program.

The cost of the Albertsons FreshPass program is roughly the same as the new one from Walmart Walmart + Subscription service (which offers unlimited free shipping and various other perks) and about $ 20 cheaper per year than Amazon Prime.

Even before the novel coronavirus pandemic, surveys showed that a majority of customers preferred free and fast shipping for e-commerce orders. The dramatic increase in the use of grocery delivery since the beginning of the pandemic has caused grocers to compete to provide such services to a greater extent than ever before.

However, some of the biggest names in retail are starting to pay customers extra for the privilege of fast delivery in some cases. Amazon recently announced that Whole Foods’ grocery delivery, which was previously free with Amazon Prime membership, costs an additional $ 9.95 in some pilot markets.

Albertsons, once regarded as a latecomer among grocers, has improved and redesigned its operations in recent years. The chain has piloted micro-fulfillment centers for online orders, in-store robots, automated grocery pick-up kiosks, and other new omnichannel technologies.

The grocer too went public in June 2020 and finally completes its IPO after several failed attempts.

DISCUSSION QUESTIONS: Will a membership program with unlimited free delivery work for Albertsons and its existing customers? What does Albertsons need to do to differentiate its offering from other providers of similar subscription services?

Brain trust

“Albertson’s ‘Prime-like’ subscription program is a must to keep the banner competitive.”

wpDiscuz

Scioto County Jail offers quicker inmate cash service

PORTSMOUTH, OH (WOWK) – Although many inmates’ freedoms are restricted once in a prison cell, they can still get outside money.

It used to be a long process to transfer money to an inmate’s account, but now Scioto County has an easier way. As you walk into the Scioto County Sheriff’s office, you may notice a machine that looks like an ATM, except that you can only deposit money.

Access Corrections’ Smart Deposit System is a quick and easy way for families to keep supporting loved ones. The money deposited at the kiosk goes immediately to an inmate’s account, which can be used for phone calls, meals or laundry.

A new inmate cash system and video calling system have been installed in the Scioto County Sheriff’s office. Courtesy WOWK-13 News Staff Photo / Lane Ball.

Even if you can’t make it to the kiosk in the sheriff’s office, you can still send the money using your computer or mobile device.

In the Access Corrections app, family members can find an inmate’s account by searching the state, county jail, and inmate’s name. You can then deposit a dollar amount into the system and it will go straight to your account.

In addition to the new deposit system, family and friends will soon be able to visit their loved ones safely and virtually. From August 10th, visitors can enter the normal visitor area and use the new video telephony system.

Sheriff Thoroughman says this will reduce inmate relocation and ensure a safe environment for all.

Scioto County’s residents say they believe this will be a great addition, especially for the inmates’ families.

Everyone in there is someone’s brother, sister, daughter, or son, so they still deserve those basic human rights. They should have contact with their families and relatives.

Lora Simpson, Scioto County resident

The visiting times for the video conference are the same as the normal opening times. Further information on the deposit system. click here.

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For local and breaking news, weather alerts, videos and more, download the FREE WOWK 13 News app from the. down Apple App Store or the Google Play Store.

Your Shot Texas Boosts Vaccinations With Nonprofit Grant Cash / Public Information Service

Austin, Texas – “Your shot of Texas“Aims to fund additional nonprofit, community-based organizations for programs that improve access to COVID-19 vaccines.

The nationwide philanthropic effort has already invested $ 400,000+ across 12 organizations to fight hesitation and ensure the hardest hit communities can be vaccinated.

Lisa Reeve, director of the Area Aging Agency for the Ark-Tex Council of Governments, said her group used grant funds to create a brochure and hire a sales representative to contact unvaccinated populations, particularly senior citizens who are home-bound.

“None of the seniors knew how to navigate a computer and make an appointment,” says Reeve. “And that’s in our brochure so they know we can help anyone who needs help.”

Reeve pointed out that her group mostly helps seniors in her nine counties, but can help anyone who still needs an injection. Local organizations wishing to initiate their own program have until August 6 to apply for funding through Your Shot Texas.

In the past few days, the delta variant has pushed the COVID-19 Positivity rate to 10% in Texas, compared to less than 3% a month ago.

Brian Sasser, chief communications officer for the Episcopal Health Foundation, said grants, along with seniors and people living in rural areas, prioritize the black, Hispanic / Latin American and other populations hardest hit during the pandemic.

He added that groups that receive the money have a deep connection with their community.

“They know the people they work with, they know their needs, and they know what is stopping people from getting vaccines,” Sasser said. “These are the best people to convince those on the fence.”

In addition to the Episcopal Health Foundation, San Antonio’s Methodist Healthcare Ministries of South Texas, Inc. and the Meadows Foundation in Dallas have pooled funds to fill the void and support outreach and activities that may not be eligible for public resources. Episcopal The Health Foundation contributes to our fund for reporting on health issues, mental health, philanthropy, and poverty issues. If you want to support news in the public interest, Click here.

Disclosure: The Episcopal Health Foundation contributes to our fund for reporting on health issues, mental health, philanthropy, and poverty issues. If you want to support news in the public interest, Click here.

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SPRING HILL, Tennessee – Tennessee employers step up efforts to convince their employees to get vaccinated as Delta, a more contagious version of COVID-19, spreads rapidly in regions of the country with low vaccination rates.

By early July, it was more than 50% of new cases in the United States. according to the Centers for Disease Control and Prevention (CDC). And in Tennessee is the state Health department reported 125 cases of the Delta variant on July 8.

Jeff Lamarche, executive director of General Motors’ Spring Hill facility, said his facility offered on-site vaccinations for employees.

“Two on-site clinics with the Murray County Health Department that brought nurses on-site provided vaccinations to several hundred on-site workers at two different clinics, so both doses were given twice,” Lamarche said.

Other employers have offered bonuses, paid time off, and other incentives to get the vaccinations, but vaccination rates continue to stall. After an analysis of the New York Times, it would take six months for Tennessee to reach 70% of adults on a dose at the current vaccination rate.

Lamarche added that despite relaxed COVID protocols nationwide, his work has been careful about letting go of masks and social distancing.

“Although the CDC changed its policy, the auto industry, essentially the Detroit Three and the UAW, stepped back and took a more cautious approach before we actually start taking our protocols back,” Lamarche said.

He acknowledged that companies are paying the cost of containing infections, but stressed that higher vaccination rates could cut spending to get operations back on track.

“During COVID, we had to deal with higher absenteeism and higher costs for the additional protocols we introduced,” Lamarche said. “There was a lot just to keep things going.”

He reported that thousands of Spring Hill plant workers have been vaccinated so far.

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LITTLE ROCK, Arkansas – Arkansas health officials urge residents who have not yet received the COVID-19 vaccine to change as soon as possible as the Delta variant makes its way through the state.

A little more than 35% of Arkansas residents are fully vaccinated, which means two weeks have passed since their last dose, compared to nearly half of Americans across the country.

Dr. Michelle Smith, director of the Bureau of Health Justice and HIV Elimination for the Arkansas Department of Health, said early on with vaccine rollout it was easy to reconcile people for a vaccine, but now it’s stalled.

“It’s more about persuading people and speaking one-on-one about their fears, hesitations, and the misinformation they’ve received,” said Smith.

Fewer black, brown, and indigenous residents have received the vaccine than white residents, but Smith noted that great strides have been made since the beginning. She stressed that the most important steps were to make sure people have transportation and hold clinics on the weekend or later in the evening for people who cannot miss work.

Smith added that it was important to meet the churches where they are.

“We don’t just go into a community and expect them to come to us,” noted Smith. “The church is involved in our planning from start to finish, and that’s the most important component of making sure it’s fair.”

Smith encouraged unvaccinated residents to have one-on-one meetings with their health care providers who can clear up any misinformation or misunderstanding people may have about the vaccine. She stressed that the approved vaccines are safe and protect communities, especially the elderly and the immunocompromised.

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LANSING, Michigan – A non-partisan bill before lawmakers would allow Michigan residents to buy medicines from Canada, where the prices are much lower.

If passed, patients could save anywhere from 50 to 80% on treatments ranging from diabetes to blood clots or allergies.

Melissa Seifert, assistant state director for government affairs at AARP Michigan, said before the US-Canada border closes due to COVID-19, many people in Great Lakes state will be traveling to Canada to buy prescription drugs instead of pocket go through their home insurance.

“These prices paralyze older people who live on a steady income,” said Seifert. “These recipes won’t work if you can’t afford to take them. And we’re seeing that more and more in older adults.”

Seifert pointed to data showing that EpiPens cost more than $ 600 in the US, for example, but less than half that in Canada. Xarelto, a drug used to treat blood clots, and Januvia, for type 2 diabetes, both cost more than $ 1,300 in the US, but both cost less than $ 500 in Canada.

Seifert claimed that one of the driving factors was that US drug companies set their own prices.

“Drug companies hold the patent, don’t they?” Seifert explains. “They can extend their patents for 20 years at a time by making very small changes to the prescription drug.”

She stressed that most countries do not allow pharmaceutical companies to advertise. In the USA they spend approx. $ 6 billion a year.

Senator Ruth Johnson, R-Holly, the sponsor of the law, stated that it follows FDA regulations. A rule passed by the agency last year paves the way for programs to import certain drugs as long as there is no danger to the health or safety of people.

“We already have the covenant in force,” said Johnson. “We have to go really hard on this, and we all have to do it together. It’s impartial; it only helps people. “

Johnson added that despite the support of Republican and Democratic members of the legislature, the pharmaceutical industry is cracking down on it. However, she argued that the benefits to consumers are worth it, and urged residents to reach out to their lawmakers to express their support. Disclosure: AARP Michigan contributes to our fund for reporting on health issues, decent wages / working families, and seniors. If you want to support news in the public interest, Click here.

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Stateline teams elevate cash to assist veterans get service canine

BELVIDERE (WREX) – Motorcycles spun across Belvidere on Sunday for a good cause.

American Legion’s Circle of Change has teamed up for a ride and roast pork to raise money for veterans.

Circle of Change will use the money to mate veterans suffering from PTSD with dogs. Circle of Change Board President Courtney Ring says it is special to see both Veteran and K9 bond and grow stronger together.

“We meet our veterans once a week for an hour at a local dog school and that’s where we have our lessons,” said Ring. “It’s very rewarding. We’ve been around for a long time.”

Circle of change will have its next fundraiser in August on their annual golf outing.

CASHét Leisure Expands Digital Cost Service Throughout COVID

CASHét Entertainment has seen impressive growth during the COVID pandemic. The company that handles accounts payable for film and television productions has reaped the fruits of its move to a fully digital offering. This was crucial at a time when the portability of COVID-19 productions led to the search for ways to limit the use of paper.

“There was a very strong need,” says the company’s President and COO Paul Rogers. ”“ Everyone was looking for a way to go paperless and we had a debt offer in the market that met that need. Pretty much everyone wanted to change trains soon. You put something on the water and think you are prepared, and then the boat fills up with fish and you have to deal with it very quickly. “

In order to meet the demand, the company has restructured its newly introduced CASHétPay division, which offers a completely digital way for productions to process their payments.
More than 100 feature films and television shows, from reality shows to big budget productions, have signed up for the service. These include “Westworld,” “Euphoria,” and “Curb Your Enthusiasm” from HBO, as well as “Home Economics” from ABC and “Dear White People” from Netflix promoted business leaders Bill Phillips Vice President, Liabilities. He oversaw the expansion of the company’s list of clients and projects, as well as managing the execution of the CASHétPay services.

Customers using the service include Warner Bros. Features and Warner Bros. TV, HBO, LG-TV, LionsGate Features, AMC, Skydance, Endeavor Content, Turner, Tyler Perry Studios, and Annapurna. According to Rogers, the service meets all of the studios’ security needs and allows them to pay their bills faster, which is a necessity in the fast-paced world of production.

“There are a number of challenges in the manufacturing world that are not in the corporate world,” says Rogers. “You got a call tomorrow telling us that some people need a check, or we can’t shoot in their driveway. The challenge lies in the immediacy and complexity. Our company works like in Production 101 – you find a way to get something done. “

To work, the production company sends a digital file with their approved liabilities to CASH safely from the accounting software. CASHet identifies those vendors who can be paid for by credit card (which creates a discount on production that is important for tax credits) and those who are paid for using traditional banking methods.

In accordance with Studio’s security protocol standards, there is a two-step authenticated security approval process that can be performed remotely from any laptop or tablet. Finally, users will also be allowed to make payments using a mobile device.

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Visa needs to assist transfer cash abroad; ‘We’re moving into areas we by no means used to service earlier than,’ says CFO

A recovering economy and the reopening of the borders are fueling a new spending dynamic for Visa Inc., and could also support the company’s more recent efforts to facilitate inter-company payments.

During visa
V, + 0.89%
had already benefited from a rebound in domestic spending, now indicates an improvement in trends for its cross-border business as more travel corridors open. Cross-border transactions, or transactions made by cardholders who are spending money in a country other than the country where their card details originate, are a critical part of Visa’s business model as the complexity of the company allows the company to charge higher fees for these transactions.

The company is still hampered by restrictions on international travel, which is an important part of cross-border spending, although CFO Vasant Prabhu sees positive signs in areas where traffic between countries is more free. U.S. consumer spending in Mexico increased 70% in May over the same period in 2019, he said, with the two-year comparison intended to offer a perspective on business performance versus pre-pandemic times. In addition, Greece opened its borders in mid-April and Visa doubled its cross-border spending in the country in six weeks.

“Consumers are showing a real desire to get started,” he told MarketWatch. “Wherever borders open, we immediately see clear bumps.”

Overall, Visa’s cross-border business ran to around 85% of 2019 levels in May, Prabhu said, with no transactions between European countries. That was an increase of six percentage points compared to the quarter of April 2021.

The COVID-19 crisis has meant that Visa may no longer be so reliant on travel to fuel cross-border spending in the future. Before the pandemic, travel made up two-thirds of cross-border business, with e-commerce spending the rest. Now the balance is upside-down, in part because cross-border travel has still stalled, but also because shoppers, especially outside of the US, are more convenient to shop online from international sellers, Prabhu said.

In general, Visa relies on being able to participate more in the flow of money between countries. The company is best known for making card payments possible for consumers, but it has made greater efforts lately to get involved in the flow of money between companies, which is a lucrative but complex business, especially when it comes to companies that are international Operate commercially.

While companies in the past have not preferred to pay each other using traditional credit or debit cards, Visa has expanded its business beyond cards to capture new types of money movements. The company acquired Earthport two years ago, which enabled it to connect to additional card-based networks and domestic systems for automated clearing houses (ACH) while Visa itself was already bringing 5 billion cards and accounts to the table. The goal is to help businesses or people pay each other in a variety of ways, be it from a card to a bank account or from a bank account to a bank account.

“We are merging an extraordinary number of networks into a single network,” said Prabhu.

This wide presence in various payment networks is why Visa believes it can be an attractive option for companies looking to send money internationally, both to suppliers and to those who work for them in other parts of the world. The company sees a $ 10 trillion market opportunity in cross-border business-to-business (B2B) payments.

The process of sending money internationally has generally been complex, Prabhu said, as companies wishing to do so may have had to use different platforms depending on where they were sending funds, how large the transaction amounts were, or how often their payments would take space . Visa’s interactions with different types of networks mean that companies can use its B2B Connect platform for different types of transactions in a simplified manner and with more security in terms of exchange rates and security protocols, he continued.

Visa announced on Monday that it has entered into a new partnership with Goldman Sachs Transaction Banking that will focus on sending money internationally. Goldman Sachs has “a single connection for any type of cross-border payment” that it can use to help its customers get their money where it belongs.

Visa saw some negative impact on its B2B cross-border dynamics during the pandemic, particularly from smaller businesses hit by COVID-19, Prabhu said, but the company is now seeing that area come back. And in general, he sees an urge from companies to digitize more parts of their operations, including payments.

The company’s efforts to expand beyond card payments are also helping it enter other areas of international money transactions, including cross-border transfers. The remittance market is “as big as FDI,” said Prabhu, and Visa is “really for the first time in” [its] history ”, which enables this type of cash flow thanks to partnerships with major remittance providers.

“We’re moving into areas we’ve never served before,” he said, “and helping people move money across borders in ways that go beyond paying merchants.”

Fintech agency Smart service permits customers in India to ship cash overseas

In this photo illustration, the TransferWise logo is displayed on an Android mobile phone.

Omar Marques | SOPA Pictures | LightRakete | Getty Images

Financial technology company Wise said Tuesday that users in India can now send money overseas to 44 countries around the world.

This includes places like Singapore, Great Britain, the United States, the United Arab Emirates, as well as countries in the euro zone.

India’s overseas remittances for the 2019-2020 fiscal year were approximately $ 18.75 billion, of which more than 60% were categorized under Travel and Study Abroad Payments. according to the Reserve Bank of India. Under a liberalized remittance system, the central bank allows residents to freely transfer up to $ 250,000 per fiscal year abroad to fund personal expenses or education – which begins in April and ends in March of the following year.

Typically, the overseas remittance market is comparatively larger, as many Indians who work overseas send money back to their families in the country. World Bank data for 2019 shows personal transfers in India over $ 83 billion.

Kristo Kaarmann, CEO and co-founder of Wise, previously called TransferWise, told CNBC that the ability to send money from India was one of the most requested services the company was getting from users.

“India in particular is very exciting,” said Kaarmann. “In the last, almost ten years, the establishment of a local payment infrastructure and UPI has been very interesting to watch.”

Unified Payments Interface or UPI is one of the dominant methods for digital payments in India. What sets the framework apart from mobile wallets is its interoperability – this means that people can use different platforms based on UPI to send money and conduct financial transactions.

London-based Wise specializes in cross-currency money transfers that can be done entirely online. It claims its service is faster and cheaper than other fintech players as well as traditional banks, which are prone to big cuts and offer unfavorable exchange rates.

Banks are the dominant platform for international money transfers in India.

Wise partnered with Google Pay last month so that users in the US can send money to India.

Wise also announced the opening of a local office in Mumbai on Tuesday. Kaarmann declined to give details of possible partnerships in the plants in India.

Boy Scouts set the muse for management model, dedication to service Col. Ralph Puckett took into U.S. Military

COLUMBUS, Ga. (WRBL) – Colonel Ralph Puckett has been a respected military leader for more than five decades. But his first opportunity to lead actually came during his years as a Boy Scout, and that experience served well his entire life.

“To my glory I will do my best to do my duty to God and my country …”

“Of all the things about scouting that influenced me, the Boy Scout Oath did the most,” said Col. Puckett. “Repeating the Boy Scout Oath was probably the first time that I realized that I had a duty to contribute to my country and to give something back to this great country where we are privileged and happy to give back.”

Col. Ralph Puckett made these remarks in 2013 when he received a Distinguished Citizen Award from the Boys Scouts of America’s Chattahoochee Council.

On Friday he received the nation’s highest military award from President Joe Biden. Puckett was awarded the Medal of Honor in 1950 for his actions in Korea. The foundation of his bravery and service was laid as a Boy Scout in his hometown of Tifton, Georgia in the 1940s.

“Besides my parents, scouting was the most influential activity for me when I was a young man,” said Puckett in this speech. “That influence has influenced me all my life. Only my father, as a ranger in the US Army, had a greater impact on me than the Boy Scouts. “

Col. Puckett recalls watching the Boy Scouts in action as a teenager to help the people across the street.

“The uniform caught my attention,” he said. “I wanted to be a boy scout. When could I be old enough to be a Boy Scout? That day was more important to me than a driver’s license when I came of age. “

That day finally came and opened the door to a young Ralph Puckett to test his leadership skills.

“I became a patrol leader and later became the chief patrol leader,” he said. “With one push from my mother, I earned the Eagle Scout rank with Goldpalme.”

When Col. Puckett received the Boys Scouts Distinguished Citizen Award, he clearly preferred to pay tribute to others. It began with a quote from General Dwight D. Eisenhower.

“He said humility must always be that part of everyone whose recognition has been earned through the blood of their soldiers and the sacrifices of their friends,” said Puckett. “You deserve the recognition. They carried me on their shoulders. “