August 4, 2015
Global remittances amount to $500 billion every year. The industry has grown by leaps and bounds; yet, for a consumer, there are several issues. There have been multiple issues in the past such as high transfer costs, limited money distribution methods, limited brand options, limited ways to deal with money, etc. The advent of new players in this space is redefining the solutions provided to these problems by this industry which was known to be mainly duopolistic in nature till a few years ago. Entrepreneurs have taken note of the market opportunity in this segment and are establishing remittance platforms making use of cloud, mobility, blockchain and other technologies and concepts.
Mobetize Corp. is targeting customers of Western Union, MoneyGram and other money transmitter operators (MTOs) by enabling mobile and telecom operators to now offer an alternative low-cost money remittance service. Mobetize has completed its contracts, technology integrations and compliance globally to incorporate in ...