International Remittance

The Solution
Partner Benefits
End-user Benefits
The Solution
  • Sending markets are mostly developed economies, with high smartphone penetration and a demand for instant transactions. In these markets, smart phones are replacing traditional wallets, making digital channels for IR an important part of the ecosystem. According to a research by Juniper, approximately USD 12 billion in mobile remittances occurred in 2011 and the volume is expected to reach $55 billion by 2016.
  • The Receiving markets are mainly developing economies with low traditional banking service penetration. The number of MMOs rose to 208 in 2013, mostly in developing countries.
  • The combined demographics provide a great opportunity for mobile operators to offer IR services for unbanked population in developing countries, the top receiving markets for IR.
Partner Benefits
  • Target the unbanked in receiving markets
  • Increase convenience in sending money while reducing dependence on local agents
  • Increased acquisition and reduced churn through additional OTT services
  • Geographical Expansion with corridors to existing MMT services (if any) by partnering with MNOs, MTOs on multiple corridors
  • Increase ARPU as customers use additional funds in wallets to perform downstream transactions
  • Increased deposits – in mobile money accounts
End-user Benefits

Sending Side

  • Convenient send/receive on mobile phones.
  • In person transfer agents not required
  • Transfer wherever, whenever with mobile network or via Wi-Fi connection
  • Flexible transfers to receivers without bank account
  • More reliable, faster and safer than informal money transfer options
Receiving Side

  • Receive and store money in mobile wallets
  • Cash out from any locations via partnerships

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