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Joe Cross, TransferWise's general manager for non-EU countries recently explained that though the massive remittance economy wasn't considered a primary market when the business started, they've increasingly seen massive customer demand for this.
For instance, inter-city ethnic migration produces new kinds of society connected by massive remittance systems and distinctive global sub-cultures.
As one of the fastest-growing economies in Asia, and the second-biggest in terms of population, India represents a massive remittance market, accounting for $68.9 billion of the global total in 2015 and projected to grow.
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The partnership with Grupo Elektra already gives it a chunk of the massive $30 billion remittance and payments market that exists between the U.S. and Mexico.
Grandma isn't just using her Medicare benefits to give her aide a steady job; she's also feeding a massive flow of remittances to transnational families in the Global South.
Tiny in individual increments, aggregate remittances now constitute massive flows of capital into the world's developing countries.
This decrease of bank financing could be a massive blow to the flow of remittances that, in countries such as Nepal, comprises as much as a third of national GDP.
Indeed much of the literature on migration, by emphasising the more obvious economic effects of remittances, has neglected their massive social significance.
The massive migration to North America and Europe produced a large flow of remittances back to Ecuador.
By legalizing and encouraging American investment, lifting the caps on financial remittances, as well as facilitating American travel, there has been a massive growth in the flow of people and money between the U.S. and Cuba.
This isn't a problem so much as a massive opportunity, and if one has the stomach for it, operating as a last-mile remittance service is where the largest growth spurts will be observed.
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CEO of Professional Science Editing for Scientists @ prosciediting.com