20% of world’s immigrants (50 million)
25% of world send flows – ($109.4 bn sent in 2014)
7.3% is average cost
Harmonised regulation within EU under Payment Services Directive, Emoney Directive and AML Directive – at least in theory
Over 450 RSPs in the EU alone
Cash is still king
Account-to-account is quite common
Online payments and mobile payments are beginning to emerge
Key challenges include: access to bank accounts and slow economic recovery and increasing operational costs
20% of world’s immigrants (50 million)
25% of world send flows – ($109.4 bn sent in 2014)
7.3% is average cost
Harmonised regulation within EU under Payment Services Directive, Emoney Directive and AML Directive – at least in theory
Over 450 RSPs in the EU alone
Cash is still king
Account-to-account is quite common
Online payments and mobile payments are beginning to emerge
Key challenges include: access to bank accounts and slow economic recovery and increasing operational costs
$36.5 bn received in 2014
150 million people benefit from remittances sent from Europe