mobile“International remittances via mobile phones will exceed $10 billion for the first time this year, according to a new report from Juniper Research.

However, the report – Mobile Money Transfer & Remittances: Domestic & International Markets 2013-2018 – found that the cost and complexity of regulating cash transfer had led many service providers to focus exclusively on airtime topups.

According to the report, only a handful of players – such as eServGlobal’s HomeSend along with established money transfer organisations Western Union and Moneygram,- were seeing significant traction on mobile. It argued that in many cases, early service providers had failed to establish a critical mass of mobile wallets in recipient markets, reducing the opportunity for inbound remittance.”

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