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Mobile Money to Power Global Remittances
Global remittances will grow slowly in 2015, but accelerate again in 2016/17: global remittances are projected to reach $586 billion in 2015, at a slower growth rate of 0.4% due to economic conditions. However, remittances are expected to accelerate again to reach an estimated $636 billion in 2017.
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- Uncategorized
- Region
- Sub-Saharan Africa
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- remittances
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India’s MoneyonMobile Sees 27% One-Month Jump in Transaction Processing
MoneyOnMobile is continuing to ignite India’s mobile money scene — topping 131 million users in March, the company announced yesterday (April 14).
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- Uncategorized
- Region
- South Asia
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How Bitcoin Could Revolutionize Remittance in Africa
A host of local companies are looking to disrupt the remittance market in Africa by undercutting traditional money transfer operators while also offering businesses new ways of accepting payments on a continent with low credit card penetration and an over-reliance on cash.
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- Uncategorized
- Region
- Sub-Saharan Africa
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- remittances
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Press Release: Xpress Money and MTN Partner to Offer Mobile Remittances in Ghana
In a move that further strengthens Xpress Money's alternate channels portfolio, the money transfer company announced its partnership with MTN Ghana - a telecom giant in Ghana. Xpress Money customers remitting to Ghana will now be able to transfer money directly into the Mobile Wallets of registered MTN Mobile Money users in the country.
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- Uncategorized
- Region
- Sub-Saharan Africa
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Aid Agencies Urge Kenya to Let Somali Remittances Resume
Aid agencies urge Kenya to allow Somali money transfer firms to resume operations, expressing concern that halting remittances will hurt struggling families and relief operations in Somalia.
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- Uncategorized
- Region
- Sub-Saharan Africa
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Kenya Shuts Down Somali Remittance Firms, Freezes Accounts
Kenya has suspended the licences of 13 Somali remittance firms following the massacre at a Kenyan university last week, Somalia's central bank governor said on Wednesday, and Kenyan media reported that dozens of bank accounts had been frozen.
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- Uncategorized
- Region
- Sub-Saharan Africa
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- remittances
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No Distance Left to Run: India Post Shutters the Traditional Money Order Service
As Bob Dylan would croak, “oh the times they are-a changing”. India Post is quietly retiring its traditional money order service which facilitated pan-India door-delivery of funds to a payee from over 155,000 post offices, reports IANS. Shikha Mathur Kumar, the deputy director general for finance confirmed to the publication and added that India Post will be pushing the electronic money orders (eMO) and instant money orders (iMO).
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- Uncategorized
- Region
- South Asia
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Kenyan Startups Tackle Expensive Remittances Through Bitcoin
It’s been declared dead countless times in the West, but in Kenya's start-up scene Bitcoin is all the rage. Kenyan companies have been attracting funding lately to build cheap Bitcoin-based remittance services that some think could give Western Union a run for its money, though others say it’s still got a long way to go.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
- Tags
- remittances
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