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Asian Development Bank Report Looks at Impact of Digital Technologies on Remittances
Governments and international organisations can help create an enabling environment in digital finance to improve the remittance process and also have positive externalities such as financial inclusion.
- Categories
- Finance
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Ghanaians to make int’l payments with mobile money as MTN partners Google
The Chief Executive Officer of MTN Ghana Ebenezer Asante has revealed that subscribers of MTN mobile money can now pay for any transaction across the world through the Google platform.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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How immigrants are driving digital transformation of U.S. remittances
There are about 43.7 million immigrants in the United States, and remittances sent from here by foreign-born immigrants rose to $66 billion from $50 billion over the past five years, according to the World Bank.
- Categories
- Finance
- Region
- North America
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International remittances to exceed $600bn in 2018
The World Bank estimates that global remittances will grow by 3.4% to $616 billion in 2018. Sub-Saharan Africa, with an average cost of 9.1%, remains the highest-cost region, it says.
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Press release: TRANSFAST Partners With Bangladesh BRAC Bank and bKash Mobile Wallet for Global Money Transfers
Bangladeshi expatriates around the world can now send cross-border remittances to bKash Mobile Wallet users at any of TRANSFAST'S 200,000 payout locations in more than 120 countries. The funds can be either cashed out via bKash agent locations in Bangladesh, or can be utilized to make person to person fund transfers, top-up mobile airtime, pay bills, and shop in-store. TRANSFAST is the first money transfer company to partner with bKash to provide this service in Bangladesh.
- Categories
- Finance
- Region
- South Asia
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WorldRemit nabs $40M at a $670M valuation to boost its money transfer business
WorldRemit, a London-based startup with some 2 million users that offers a quick way for people to send money to each other with a focus on developing markets, has raised more funds to help it take on the likes of Western Union in the remittances market, estimated by the World Bank to be worth some $596 million globally this year, and ramp its user number to 10 million.
- Categories
- Finance
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The Curious Case of Myanmar: Can the Country Leapfrog to Digital Financial Inclusion?
Fueled by years of repressed demand, cheap Chinese phones, softening regulations and an aggressive push by the country’s mobile network operators, Myanmar leapfrogged from practically zero phones to almost exclusively smartphones. Looking at this stark contrast, a natural question arises – can Myanmar leapfrog from financial exclusion to "digital" financial inclusion, just as it did in telecom?
- Categories
- Finance, Technology
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Demonetization’s impact on domestic remittances
Trends in domestic remittances before and after demonetization would provide an insight into the impact of the policy on incomes, liquidity, as well as choice of digital channels by members of the informal sector. Such data is, naturally, not yet available. However, there is a fascinating category of firms whose experience during this period can provide important perspectives.
- Region
- South Asia
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