Cash & Digital: black clouds or blue skies?

La semana pasada, en la conferencia anual de ESTA, European Cash Management Association (Asociación de Compañías Europeas de Gestión de Dinero), esta vez en Viena, participé en la moderación de un panel denominado “The war on cash: black clouds or blue sky ahead?” (La guerra contra el efectivo: ¿nubes negras o cielos despejados en el…

IMTC ASIA 2018 SUMMARY

Analyzing the results of IMTC ASIA 2018 in Manila September 19-21, the first thing that comes to mind is the very interesting state of the money transfer industry in The Philippines. Companies, colleagues, regulators, government representatives, were very open to share their ideas, their work, their vision, which contributed to understand key transformations that the…

Digital vs. Cash, are we getting it all wrong?

This article was conceived after discussing with colleagues in the industry why the payments world has been driven into the Cash vs. Digital dichotomy. My research on cash has been inspired by analyzing the penalization of cash-based industries, such as the money transfer industry by the banking sector, which has resulted in the derisking phenomenon…

The Antimonopoly Prosecutor in Chile sides with MSBs on Bank Account Closures

We thank our colleague Carlos Grossman, for the report out of Chile where the Antimonopoly Division of the National Economic Prosecutor Office (División Antimonopolios de la Fiscalía Nacional Económica – FNE)  reports the investigation that took place after an August 2015 complaint by a Forex Firm denouncing seven banks of denying the opening of a…

Las Remesas Familiares y el De-risking en México por Salvador Velázquez

Los migrantes mexicanos en los EEUU son los mexicanos de primera clase. Es en general la población tomadora de riesgos, trabajadora, que tiene un diferente Work Ethic, aun con respecto a los propios trabajadores americanos promedio. Le dan un valor diferente al esfuerzo y la remuneración que por dicho esfuerzo perciben. Algunos son verdaderos emprendedores…

IMTC LATAM 2017 Afterthoughts

Never before in an IMTC Conference we have had so many representatives from such a large number of sectors of society: politicians, ex-politicians, researchers, academics, pollsters, migration specialists, opinion makers, journalists, social workers, representatives of NGOs, cooperatives, “Cajas” (community banks), workers’ banks, entrepreneurs, remittance companies directives and commercial bank executives. I think that three factors…

Las amenazas de Trump – Remesas, impuestos, migración, deportaciones y la construcción del muro

Remesas, impuestos, migración, deportaciones y la construcción del muro

Durante las primarias presidenciales republicanas del año pasado, Donald Trump expuso su propuesta de cómo forzar a México a pagar por el muro de 1,000 millas en la frontera entre Estados Unidos y este país. Los periodistas Bob Woodward y Robert Costa del Washington Post publicaron en Abril 5 de 2016 la noticia (http://wapo.st/2jbWHFn) en la cual Trump manifestaba su intención de amenazar a México con “cortar el suministro de remesas”. Trump envió en esta ocasión un memorando de dos páginas…

Press Release: IMTC LATAM 2017

Miami, January 5, 2017 – IMTC, the premier events of the International Money Transfer & Payments Industry, has announced today that its first remittance & migration conference of 2017 will be held in Antigua, Guatemala at the Porta Hotel. IMTC LATAM 2017 will be it’s first conference in Central America and will draw attendees from the Americas & Europe.

Remittances to Guatemala will surpass US 7 Billion for 2016, an all-time high. Remittances to Guatemala have grown steadily since 2010 with an average growth of 6% per year, outperforming most of the countries in the region. But also El Salvador, Honduras and even Mexico has seen remittances grow in 2016, all of them reaching all-time highs. Remittances to Honduras are expected to reach 4 billion while El Salvador could reach 4.5 B when year-end statistics are published. Higher incomes in the US and Trump fears are cited as reasons for the increases.