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Mobile devices pushing international remittances to $55 billion in 2016

In keeping with the growing mobile payments trend, there are high expectations for the international remittances being sent over mobile handsets. While the market saw less than $12 billion change hands this year, that figure is headed toward $55 billion in 2016, according to a new report from Juniper Research.

 

The strongest growth areas for the market, says the report, are "established migration corridors, such as the U.S.-Mexico and intra-regional transfers across Africa and the Middle East, as migrant workers send money back home from foreign countries." Rising inter- and intra-regional growth from and within Western Europe, however, has that region expecting to see the largest remittance volumes in 2016.

 

Conveniences such as touchscreens, apps, Internet access and mass-market feature phones should all have a "trickle down" effect in the medium term, says the report, as can simplifying the process for users .

 

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Via Chuck Sherwood, Senior Associate, TeleDimensions, Inc
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Sweden Statistics: World Bank: Global Remittance Flows ... Amazing stuff. Enjoy it.

Sweden Statistics: World Bank: Global Remittance Flows ... Amazing stuff. Enjoy it. | Bakaal Post | Scoop.it
From: http://worldbank.tumblr.com/ and http://www.torre.nl/remittances/. This visualization shows the global movements of money due to remittances (money sent by migrants to their home country). Data from the World Bank ...
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