Vancity, the largest credit union in Canada, introduced a remittance program via Smart Money that will allow members in British Columbia to send for free as much as P40,000 (approximately C$950) until the end of January this year....
According to a report from Juniper Research released recently, growth will come from mobile remittances sent across established migration corridors – such as the US-Mexico and intra-regional transfers across Africa and the Middle East – as migrant workers send money home from foreign countries...
Remittances via mobile devices are set to reach $55 billion in 2016, most of this through traditional migration corridors, according to a new study by Juniper Research. Two issues might affect the growth, however. A lack of regulatory engagement with telcos in many jurisdictions will inhibit deployment as there is little co-ordination between each end of the transfer. Fees are the other, perhaps more serious consideration and the Juniper study calls for care when setting remittance fees....
