A new study from Juniper Research has found that international remittances — including airtime top-ups — via mobile phone will exceed $25 billion by 2018, up 67 percent from an estimated $15 billion in 2015, according to a press release about the report.
The research found a significant upsurge in international remittance activity in the past two years with a number of cross-border mobile remittance services being deployed. For example, PayPal-owned Xoom announced in April 2016 that it will expand its services to 13 new recipient countries.Read more
A study of five countries in Sub-Saharan Africa reveals 63 per cent of respondents are unbanked, and 52 per cent use mobile money through agents.Twenty per cent of the population use mobile money services on a mobile phone, and half of these people are unbanked.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.