Remittances

Lack of digital infrastructure risks leaving millions of rural families in poverty - IFAD makes urgent call on International Day of Family Remittances

Retrieved on: 
Wednesday, June 16, 2021

The President of the UN's International Fund for Agricultural Development (IFAD) today called for urgent investments in digital infrastructure and mobile services in developing countries to ensure rural families are not left behind.

Key Points: 
  • The President of the UN's International Fund for Agricultural Development (IFAD) today called for urgent investments in digital infrastructure and mobile services in developing countries to ensure rural families are not left behind.
  • "Migrants have shown their continued commitment to their families and communities during the pandemic with more remittances transfers made digitally than ever before," said Gilbert F. Houngbo, President of IFAD, speaking on the International Day of Family Remittances .
  • "Unfortunately, families in rural and remote areas- where remittances are a true lifeline- battle to access cash outlets or alternatives such as mobile money accounts.
  • Governments and the private sector need to urgently invest in rural digital infrastructure to address this."

Nine arrests in hit against network smuggling migrants via the Greek-Turkish land border

Retrieved on: 
Friday, January 22, 2021

From there, members of the smuggling network would pick them up by car to bring them to a safe house in Northern Greece.

Key Points: 
  • From there, members of the smuggling network would pick them up by car to bring them to a safe house in Northern Greece.
  • Afterwards, the migrants were transported to Thessaloniki and from there on to Athens, using sophisticated methods to avoid police detection.
  • Relatives of the migrants were paying between 900 and 2500 per person for the smuggling services, transferring the payments via the hawala network.
  • Results:

    Northern-Greece is an important hub for smuggling of migrants due to the reinforced border protection along the Evros River.

Global International Remittances and Money Transfers Report 2020 - ResearchAndMarkets.com

Retrieved on: 
Wednesday, November 4, 2020

The "International Remittances and Money Transfers 2020 Report" has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "International Remittances and Money Transfers 2020 Report" has been added to ResearchAndMarkets.com's offering.
  • The report is a comprehensive review of international migrant remittances and money transfers' market.
  • The report sheds light on numbers of consumers remitting funds in each of the markets, purpose of international transfers across key demographic segments, average value and frequency of transfers, providers used, and key considerations consumers have when transferring money internationally and choosing a provider.
  • This is a must-read, essential and unique report for all financial service professionals working in the international remittances and money transfers sectors.

Remittance Market to Reach $930.44 Billion, Globally, By 2026 at 3.9% CAGR: Allied Market Research

Retrieved on: 
Thursday, October 29, 2020

Rise in cross-border transactions & mobile-based payment channels, reduced remittance cost & transfer time, increase in adoption of banking & financial services fuel the growth of the global remittance market.

Key Points: 
  • Rise in cross-border transactions & mobile-based payment channels, reduced remittance cost & transfer time, increase in adoption of banking & financial services fuel the growth of the global remittance market.
  • On the other hand, slowdown of the remittance industry in Asia-Pacific and lack of awareness about digital remittance impede the growth to some extent.
  • However, technological innovations in digital remittance industry and surge in Internet & mobile penetration are expected to create multiple opportunities in the industry.
  • Increased partnership between money transfer operators and banks to offer digital money transfer services in the remittance market drives the segment growth.

Remittance Market to Reach $930.44 Billion, Globally, By 2026 at 3.9% CAGR: Allied Market Research

Retrieved on: 
Thursday, October 29, 2020

Rise in cross-border transactions & mobile-based payment channels, reduced remittance cost & transfer time, increase in adoption of banking & financial services fuel the growth of the global remittance market.

Key Points: 
  • Rise in cross-border transactions & mobile-based payment channels, reduced remittance cost & transfer time, increase in adoption of banking & financial services fuel the growth of the global remittance market.
  • On the other hand, slowdown of the remittance industry in Asia-Pacific and lack of awareness about digital remittance impede the growth to some extent.
  • However, technological innovations in digital remittance industry and surge in Internet & mobile penetration are expected to create multiple opportunities in the industry.
  • Increased partnership between money transfer operators and banks to offer digital money transfer services in the remittance market drives the segment growth.

SendMoney.com Partners up with Pangea to Launch a New Online Money Transfer Service

Retrieved on: 
Monday, September 21, 2020

Considering the importance of this issue for the people who moved abroad and still need to help their family and friends, SendMoney.com and Pangea are launching a new online money transfer service offering exclusive access to competitive exchange rates and a low processing fee.

Key Points: 
  • Considering the importance of this issue for the people who moved abroad and still need to help their family and friends, SendMoney.com and Pangea are launching a new online money transfer service offering exclusive access to competitive exchange rates and a low processing fee.
  • During these challenging times, staying connected and helping out family and friends have become more important than ever.
  • The importance of remittances has been on a steady rise in the past few months, and the launch of a new international money transfer service by SendMoney.com and Pangea comes to support the transition from offline remittances to safer, faster and lower cost online money transfer options.
  • Pangea Money Transfer is an award-winning mobile-centric money transfer platform that allows on-the-go users to send money from the U.S. to countries across Latin America, Asia, Africa and Europe in less than 30 seconds -- all for a low flat fee.

On International Day of Family Remittances, IFAD calls for remittance service providers to be declared essential businesses

Retrieved on: 
Tuesday, June 16, 2020

"Remittances are a lifeline for poor families in low and middle income countries.

Key Points: 
  • "Remittances are a lifeline for poor families in low and middle income countries.
  • Remittance flows are projected to make their sharpest decline in history, falling by 20 per cent in 2020.
  • The closure of remittance service providers during lockdowns has exacerbated the ability of migrants to send money back to their families.
  • Disruptions in remittance flows directly affect the lives and livelihoods of one billion people: 200 million migrantswho send money totheir 800 million relatives.

South Africa Domestic and International Remittance Market Outlook 2013 to 2023 - By Channels Used & Remittance Corridors - ResearchAndMarkets.com

Retrieved on: 
Monday, February 3, 2020

The "South Africa Domestic and International Remittance Market Outlook to 2023 - By Channels Used (Banking Channels, Retailers, ADLAs & MTOs and Others), Remittance Corridors (Inbound-Outbound and Rural-Urban)" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "South Africa Domestic and International Remittance Market Outlook to 2023 - By Channels Used (Banking Channels, Retailers, ADLAs & MTOs and Others), Remittance Corridors (Inbound-Outbound and Rural-Urban)" report has been added to ResearchAndMarkets.com's offering.
  • This report provides a comprehensive analysis of South Africa's Remittance Market including market evolution, overview, genesis, market size and market segmentation.
  • The report covers aspects such as market segmentation and an extensive snapshot on the bill payment market in South Africa.
  • South Africa domestic and international remittance market is concentrated and in the growth stage.

Global Digital Money Transfer and Remittance Market to 2024: Market Value is Projected to Display a Robust Growth Represented by a CAGR of 11.75%

Retrieved on: 
Thursday, October 3, 2019

Digital Money Transfer & Remittance market value is projected to display a robust growth represented by a CAGR of 11.75 % by value during 2019-2024.

Key Points: 
  • Digital Money Transfer & Remittance market value is projected to display a robust growth represented by a CAGR of 11.75 % by value during 2019-2024.
  • Amongst the countries, China accounts for the largest share in the Global Digital Money Transfer & Remittance Market in 2018.
  • The report has covered and analysed the potential of digital money transfer and remittance market and provides statistics and information on market size, shares and growth factors.
  • The report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the Digital Money Transfer & Remittance market.

Global Digital Money Transfer and Remittance Market Analysis (2017-2018) & Opportunities and Forecast (2019-2024) - ResearchAndMarkets.com

Retrieved on: 
Thursday, October 3, 2019

The "Global Digital Money Transfer and Remittance Market - Analysis By Type (Domestic, International), By Application (Consumer, Enterprise): Sizing, Growth, Opportunities and Forecast (2019-2024)" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "Global Digital Money Transfer and Remittance Market - Analysis By Type (Domestic, International), By Application (Consumer, Enterprise): Sizing, Growth, Opportunities and Forecast (2019-2024)" report has been added to ResearchAndMarkets.com's offering.
  • Digital Money Transfer & Remittance market value is projected to display a robust growth represented by a CAGR of 11.75% by value during 2019-2024.
  • Amongst the countries, China accounts for the largest share in the Global Digital Money Transfer & Remittance Market in 2018.
  • The report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the Digital Money Transfer & Remittance market.