NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Friday, March 7, 2014

There are real benefits money remittance companies can have by embracing a mobile-first strategy. In fact, when it comes to financial institutions, I believe that mobile and money remittance are the perfect match. Here’s why:

Mobile makes money transfers faster and more convenient.

While today’s contactless mobile payments solutions are still not as simple as handing over a wad of cash or swiping a card for over-the-counter payments, in the world of money remittances, mobile can actually smoothen-out friction points.

Through mobile, senders can send funds wherever they are. They won’t have to drive or commute to a local remittance center, they don’t have to fill out forms, and they don’t have to fall in line to complete the transaction. It’s all seamless and convenient.