Remittances and mobile money have played a big role in promoting financial inclusion in emerging markets. Currently it’s a market dominated by big players like Western Union, but more and more often we’re seeing localized startups like Remit in Uganda looking to make financial services even easier and more inclusive.
“Safaricom Deal to Allow Diaspora to Send Money to M-Pesa Accounts” by Chris Udemans on HumanIPO
The growth of mobile technology has had … read more
Developing countries received over $400 billion in remittances in 2012 according to a World Bank (see our infographic on remittances here). This is a great example of how mobile money has changed the way people send money by making it easier and safer. This week, we read many stories detailing both progress and challenges in the sector. We are always looking for innovative entrepreneurs that piggyback on the success of mobile money to provide … read more
The increase in remittances and money transfers poses an interesting challenge to mobile and banking technologies. We are always looking for the newest innovations in mobile tech for the BSP Fund. Here are some of the stories that caught our attention in remittances and mobile technology this week.
Remittances to Africa carry a high price tag by Tosin Sulaiman on Reuters
As the official remittance flow to Africa has increased to a record $60.4 … read more