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Mobile money flourishing in Myanmar
Young migrant workers throughout the country use mobile money to make remittances to families back home. In Myanmar, only 20% of the population has a bank account. Thus, unbanked people often just carry stacks of cash when returning home.
- Categories
- Technology
- Region
- Asia Pacific
- Tags
- remittances
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World Telecom Day: How data holds the key to sustainable development goals
The world is experiencing a data deluge with millions of devices and things talking to each other. According to one estimate, 90% of this data was created in the last few years only. As Eric Schmidt famously said, “There were 5 Exabyte of information created between the dawn of civilization through 2003, but that much information is now created every 2 years”.
- Categories
- Technology
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The Fight For The $400 Billion Business Of Immigrants Sending Money Home
A new class of startups is using bitcoin and the blockchain to drastically lower fees as they try to grab a share of the remittance market from old competitors like Western Union.
- Categories
- Technology
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Nigeria Still At Outskirts of Mobile Money Remittances
Nigeria is still struggling with low adoption and highly fragmented agency networks and both are conspiring to hobble the growth of the industry.
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- remittances
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Stellar Partners ICICI Bank, Enables Blockchain Money Transfers in India, Africa and Philippines
Stellar, the open blockchain platform and non-profit payment protocol has unveiled a slew of new partners including, notably, India’s largest private bank by consolidated assets ICICI, to bring low-cost, near instantaneous remittance solutions in India, the Philippines, Africa and Europe.
- Categories
- Technology
- Tags
- blockchain, fintech, remittances
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Is the Time Finally Ripe for Bitcoin Remittances in Africa?
When the words Bitcoin and Africa appear in a sentence, the word remittance usually follows. When Bitcoin first hit the mainstream in 2013, its low-cost money transfer feature was hailed as the solution to the overly expensive remittance costs charged by the large money transfer operators (MTOs), Western Union and MoneyGram. This is especially true when it comes to transferring funds to Africa.
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- fintech, remittances
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A Demographic Time Bomb: The Urgent Need to Prepare Undocumented Hispanic Immigrants for Retirement
The United States is home to some 11.3 million undocumented immigrants, mostly Latin American. These immigrants are aging, and whether they stay in the U.S. or return to their home countries, many are woefully underprepared for the financial burdens of retirement. The consequences of ignoring their retirement savings needs are significant – but so are the opportunities to reach them with financial products.
- Categories
- Investing
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Western Union introduces US-Cuba money transfers
The Western Union Company pioneered mobile and online money transfers to Cuba via the Western Union app and wu.com in the U.S., paving the way for a new generation of tech-savvy customers to move money into Cuba in minutes.
- Categories
- Uncategorized
- Region
- Latin America