A new trend is ready to reinvigorate the remittance industry
The International Money Transfer & Payments industry has always relied on a large network of brick & mortar agents, both in the sending side of a corridor as well as in the receiving side. It is more true in the sending side, where mom & pop ethnic stores have dominated the landscape providing good and reliable services to migrants in many cities & towns in the world. Migrants trust them and even if they are losing ground to retail chains agent networks and other more corporate store chains, they still handle the large majority of orders sent in the US, Europe and the Gulf.
Western Union, MoneyGram, Ria Money Transfer have always published their agent number as a sign of the growth of their collection (on the sending side) & distribution network (on the paying side).Details