The Paul Sumerall Memorial Scholarship Program was established by Merchants Bank of California in order to promote research and investigation in the area of International Money Transfers and Cross-Border Remittances. The idea was to get Teachers/Researchers/Professors (Advisors) of verifiable academic institutions to submit ideas on studies and projects where students could be involved in different capacities so they could actively contribute and learn at the same time. Scholarships were granted through these Advisors, to worthy college/university students, graduate students and researchers who demonstrated an interest in the money transfer industry and who conducted or participated in studies in fields directly related to the international transfer of funds, in any country in the world. We didn’t receive applications directly from students.
The Scholarship Program was established in memory of Paul Maass Sumerall, of Long Beach, California, who passed away in December 2012. He was very much appreciated in the industry and loved by friends and colleagues.
We wish we could have continued with the Scholarships but at the present day the Scholarships have been discontinued.
Brief Description of the Scholarships – Now Discontinued
Once the Teacher – Researcher – Professor has been accepted, it becomes an Advisor for the Paul Sumerall Memorial Scholarship Program and can present projects where students can be involved in different capacities so they can actively contribute and learn at the same time. The advisor must demonstrate that the project is directly linked to international money transfers and remittances or in fields directly related to the international transfer of funds, in any country in the world.
The fields of study can range from financial, economic, social, development, migration and diaspora related, technical advances, consumer behavior, regulatory and compliance related issues, alternative payment methods, market penetration, new products and services, pricing, competition, Bank & Non-Bank partnerships, government programs, etc.
Scholarship funds can be used by students for any type of expense related to fieldwork, survey, travel, supplies, etc. upon supervision and approval from the advisor. We expect to receive at completion a copy of the results, document or presentation summarizing the study funded.
Advisors will present the applications to students in order to be sent with the Advisor’s comments, to the Scholarship Program Committee for review. All applications need to come directly from the advisors to the Scholarship Program Committee and not directly from a student. We do not accept applications from unaffiliated students.
• The Scholarship Program Is open Advisors and their students located in any place in the world
• Candidates must be presented by the Advisor of a verifiable academic institution who will be the person coordinating the project to be accomplished with the funds from the scholarship.
• The subject of the study must relate to the international transfer of funds (P2P, person-to-person such as family remittances, P2B, person to business such as Bill Payment, and B2P, Business to Person such as pensions) as well as value-transfer systems such as Top-Ups, Retail Coupons, virtual currencies, etc.
• The areas of the study are very broad as described previously; we expect international money transfers to be an important part of the study submitted for consideration.
• After an initial approval of the advisor and the studies to be undertaken, applications will be sent to advisor to distribute among its students. The applications can be collected by the Advisors or sent directly to us .A selection committee will review the information provided.
• Employees of Merchant Bank of California and IMTC and their close family members – or someone with whom they share a close personal relationship – cannot be considered as applicants and should not apply to the scholarship. If you have any doubts please Contact us.