July 13, 2015
Mike Massaro is the CEO of peerTransfer, the leading cross-border payments company currently serving foreign students attending colleges and universities around the world. Based in Boston, peerTransfer enables international students from 200 countries and territories to pay their tuition, room and board at over 750 educational institutions worldwide.
What according to you is the key concern the remittances industry is facing and how do you plan to address this?
First, the digital era means that Markets and Industries have become truly global. Consumers want and need to be able to send, hold and spend money globally – without borders. Remittances make up only a portion of the growing demand for global funds movement and borderless money.
Second, there is a big misconception that one size fits all when it comes to cross-border movement of funds. Legacy companies such as Western Union and MoneyGram have been slow to adapt to the digital era, leaving new entrants like Xoom and TransferWise to innovate in traditional remittances.
peerTransfer is already developing cross-border processing and payment solutions that make money borderless. Consistent with the notion that one size does not fit all, peerTransfer has chosen ...