At the beginning of this year I indicated that Zimbabwe must work very hard to raise national productivity in order to enhance national competitiveness. Undoubtedly, one of the stumbling blocks to raising productivity is limited finance or liquidity crunch.Read more
WorldRemit, the global money transfer app, today introduces instant transfers to Nigeria. In addition to its same-day bank transfer service, WorldRemit now allows people to send money to more than 140 cash pickup locations in Nigeria, instantly.People in more than 50 countries can use the app to send to Nigeria. Recipients can collect money instantly from 140 branches of Skye Bank.Read more
U.S. citizens still aren’t allowed to invest in Cuba, but American cash has been nurturing the Communist-ruled island’s nascent capitalists, a few dollars at a time.The Obama administration removed U.S. limits on money transfers to the island in September, encouraging the use of person-to-person remittances to support private businesses on the island.Cubans such as retired teacher Rafaela Suarez are the beneficiaries.Read more
The business process outsourcing (BPO) industry may soon overtake dollar remittances from overseas Filipinos in terms of revenues given the continued strong demand for office space, a real estate market consultancy firm said.In 2014, the BPO sector registered $18.9 billion in total revenue and is forecast to grow between 15 percent and 18 percent for 2015.Pinnacle Real Estate Consulting Services Inc. said the industry is expected to further grow this year with revenues projected to hit $25 billion.Read more
Azimo, the digital money transfer service, has joined forces with Vodafone Romania to integrate the mobile payment service, M-Pesa, into the Azimo iOS and Android apps. The strategic partnership will enable anyone living in Europe, including millions of Romanians, to send money to loved ones who are Vodafone Romania users registered with M-Pesa and can collect funds in over 2100 M-Pesa locations throughout Romania.Read more
It’s not a converted industrial warehouse in Brooklyn. Or a stately, century-old building in the Flatiron.
But YC-backed Regalii’s atypical office location up in the Dominican-heavy Washington Heights neighborhood of Manhattan has given it plenty of insights into its working-class immigrant customer base.
The startup, co-founded by several Latino founders who personally knew the hassles of sending money home, focuses on remittances.
Terra, which dubs itself as a mobile-first international network for low-value remittances, launched Terra Connect, an API suite to enable mobile wallet providers to offer what the company calls affordable, accessible international remittance products to maximize global reach.Read more
As previously revealed by Mobile World Live, TransferTo officially launched its mobile money hub, enabling consumers to send cash to friends and family with mobile money accounts in developing countries.
The firm is not offering the hub service directly to consumers but to banks and operators who will offer the service to their users.
East Africa has emerged at the leader in mobile payment over the years, with countries like Kenya having more than two-third of its adult population using mobile phones to transact.
With the mobile money market in sub-Saharan Africa expected to double by 2019, lack of interoperability between telecoms operators and cross-border restrictions has stood out as one of the key challenges that face the growth of the revolution.