Sentence examples for its remittance from inspiring English sources
Instead, it packages its remittance infrastructure — finding exchange rates, transferring funds between two end points and meeting local compliance at both ends — by way of an API that is used by hundreds of other remittance companies to create services for individuals abroad to send money to family back home (wherever that might be); or for businesses to pay money to each other; and so on.
Somalia might be one of the poorest nations in the world, but its remittance system is widely seen as a model for other nations.
HSBC, whose signature tune remains the global-local bank, has already retreated from several overseas markets and severed its remittance business.
The government withdrew its remittance business, currency unification removed the need for the silver trade between cities and competition grew from modern banks.Pingyao's ensuing poverty proved to be its saviour.
BitPesa, a Kenyan mobile money transfer firm that launched in May, says its remittance transactions are "twice as fast and 75% cheaper" than competitors, because it uses bitcoin to transfer funds.
In emerging countries, Rebit is developing its remittance service to send money to the Philippines through bitcoin, ArtaBit develops a service to Indonesia and Coincove to Latin America.
Even as the state realized their limitations, they have offered a new alternative that aims to maximize the outcomes of migration and using its remittances for the development of the country.
SureRemit plans to leverage this network for its new remittance focused crypto token.
The news comes one day after U.S.-based Veem (formerly Align Commerce) raised $24 million to expand its international remittance services.
Fonkoze has its own remittance service and is also a vendor for MoneyGram, CAM and Unitransfer.
Just as migration reduces pressures on national governments to provide employment opportunities for its citizens, remittance flows serve as a source of welfare support for many citizens of the developing world.
