Saltar al contenido
CrossTech is part of The Platinum Network. Become a Member!
  • enEnglish
  • esEspañol
  • pt-brPortuguês
Linkedin page opens in new windowYouTube page opens in new windowTwitter page opens in new windowFacebook page opens in new windowInstagram page opens in new window
CrossTech
Cross Border Payments
CrossTechCrossTech
  • Home
  • About Us
    • Board of Directors
    • Who comes to CROSSTECH?
    • Industry Associations
    • WOMEN IN THE MONEY TRANSFER INDUSTRY AWARDS
    • IDFR – International Day of Family Remittances
    • Contact Us
  • Conferences
    • PAYMENTS 2023
    • Past Conferences
      • IMTC WORLD
        • WORLD 2022
        • IMTC WORLD 2021
        • IMTC WORLD 2020
      • IMTC LATAM
        • LATAM 2022
        • IMTC LATAM 2021
        • IMTC LATAM 2019
      • REGLIANCE
        • REGLIANCE 2021
      • IMTC EMEA
        • IMTC EMEA 2021
        • IMTC EMEA 2019
        • IMTC EMEA 2018
      • IMTC ASIA
        • IMTC ASIA 2018
        • IMTC ASIA 2016
      • IMTC AFRICA
        • IMTC AFRICA 2019
        • IMTC AFRICA 2017
      • IMTC BRASIL
        • IMTC BRASIL 2018
        • IMTC BRASIL 2016
      • REMTECH AWARDS
        • CROSSTECH AWARDS 2022
        • REMTECH 2020
        • REMTECH AWARDS 2019
    • Past & Present Sponsors
    • Past Speakers
    • Past Participants
  • Magazine
  • Blog
Buscar:
  • Home
  • About Us
    • Board of Directors
    • Who comes to CROSSTECH?
    • Industry Associations
    • WOMEN IN THE MONEY TRANSFER INDUSTRY AWARDS
    • IDFR – International Day of Family Remittances
    • Contact Us
  • Conferences
    • PAYMENTS 2023
    • Past Conferences
      • IMTC WORLD
        • WORLD 2022
        • IMTC WORLD 2021
        • IMTC WORLD 2020
      • IMTC LATAM
        • LATAM 2022
        • IMTC LATAM 2021
        • IMTC LATAM 2019
      • REGLIANCE
        • REGLIANCE 2021
      • IMTC EMEA
        • IMTC EMEA 2021
        • IMTC EMEA 2019
        • IMTC EMEA 2018
      • IMTC ASIA
        • IMTC ASIA 2018
        • IMTC ASIA 2016
      • IMTC AFRICA
        • IMTC AFRICA 2019
        • IMTC AFRICA 2017
      • IMTC BRASIL
        • IMTC BRASIL 2018
        • IMTC BRASIL 2016
      • REMTECH AWARDS
        • CROSSTECH AWARDS 2022
        • REMTECH 2020
        • REMTECH AWARDS 2019
    • Past & Present Sponsors
    • Past Speakers
    • Past Participants
  • Magazine
  • Blog
Feb92016
10 Most

Hugo Cuevas-Mohr puts together every year the 10 Most important Issues for the industry. To download the PDF go to Download/IMTC Publications.

Price to the public of industry services have been fairly stable during the year. MTOs interviewed have seen a slight upward trend even though they state that competition in every channel is fierce, more so in the exchange spread than in the fees. According to Remittance Prices Worldwide (RPW), the global average cost of sending remittances (including all fees and charges) remained basically the same in 2015 with a slight downward trend. RPW reports that the global average was 7.72% in 1Q, 7.68% in 2Q,  7.52% in 3Q and 7.37% in 4Q – a change of – 0.35% for the year).

The Migration and Development Brief 25, published by The World Bank and KNOMAD in October 2015, included this chart which shows the relative stability of the cost of sending $200 USD in 2014 and 2015. Dollar valuation impacts the cost of remittances, as was discussed in the IMTC WORLD roundtables. The Brief also gives us a detailed analysis on the effects of dollar valuation and its impact on remittances, “The impact of slow growth on remittance outflows measured in dollars is compounded by the valuation effects of the U.S. dollar appreciation against the currencies of remittance-source countries, especially the ruble.”

Price Chart 2015

When the exchange rate in the paying country rises continuously, the exchange rate price competition subsides and volume sent increases. The Brief further ads that Euro Depreciation (around 20%) contributed to the projected two percentage point decline in the growth rate of remittances in dollar terms to the Middle East and North Africa, where countries receive substantial remittances from Europe. Euro depreciation also affected remittances to Latin America and the Caribbean and to Sub-Saharan Africa, to a more limited extent.

It is interesting that remittances to Albania fell by 2.5% and to Morocco by 13.9%, while remittances to Romania rose by 1.9%. However, if the euro-dollar exchange rate had remained fixed at the level of 1Q 2014, then remittances would have increased by 21% for Albania, 6.9% for Morocco, and 26.4% for Romania.

The Remittance Prices Worldwide (RPW) Issue #16 of December 2015 gives us additional information that should be taken in consideration by anyone analyzing the industry.
RSPS chart prices For example, in 4Q 2015. 80% of all corridors had an average total cost below 10 % compared to only 50% in 2009. Also in 4Q 2015, the cost of sending remittances from G20 countries was 7.46% (remaining stable) but the average cost of sending money to the G20 countries decreased ( 4Q 7.10% compared to 7.64% in 3Q. The changes in the cost of sending remittances by region weresmall for most regions: South Asia remains the !east costly region to send money to, 5.43% in 4Q while Sub-Saharan Africa remains the most expensive at 9.53% in 4Q. Another important information is that form the 3 types of Remittance Service Providers (RSPs) analyzed Bank continue to be the more expensive at 11.12% in 4Q 2015, while MTOs were at 6.24% and Post Offices at 6.24% in the same quarter.

Continue reading The 10 Most Important Issues of the International Money Transfer & Payments Industry for 2015 in this Blog or  To download the PDF go to Download/IMTC Publications.

Categoría: 10 MostPor Hugo Cuevas-MohrFebruary 9, 2016
Share this post
Share on FacebookShare on Facebook TweetShare on Twitter

Navegación entre publicaciones

AnteriorPublicación anterior:The 10 Most Important Issues – 2015 Edition – 2SiguientePublicación siguiente:The 10 Most Important Issues – 2015 Edition – 4

Related Posts

Love & Death: Agents vs. Digital
May 25, 2020
Creativity in Times of Hibernation
April 18, 2020
A new decade for us
January 30, 2020
IMTC WORLD 2019 – We celebrated Ten Years!
December 18, 2019
Africa — The Latest Fintech Frontier, If Not the Last
October 31, 2019
The Growth of Migrant Services
October 21, 2019
Are you a PNET Member?

If you have not joined our industry community yet, go to PNET and sign up. You can get membership perks and discounts for IMTC conferences!

Keep on Learning!
Check our online courses:

MTTC Money Transfer Compliance Certication Course. Check the version in English &  la versión en Español.
Watch video presentation of our courses here.

PNET Logo
The CrossTech Conferences are developed by The Platinum Network, producer of the CrossTech Innovation Awards --formerly the Remtech Awards-- and the CrossTech Compliance Conference. --formerly Regliance--

THE PLATINUM NETWORK
7700 N Kendall Dr Suite 407
Miami, Florida 33156

WhatsApp: +1 (786) 731-5507

Important Links
IMTC in Twitter
IMTC Linkedin Group
IMTC in YouTube
IMTC in Facebook
IMTC in Instagram

Terms & Conditions
Visa Letter Information
Privacy & Cookie Policy
Hotel Reservation Fraud
Latest Tweets
  • Best Monday news! Proudly, we want to announce Allison Barbosa! She will be speaking on the "Women in Leadershi… twitter.com/i/web/status/16404…

    7 minutes ago

  • We are proud to announce one more speaker coming to CrossTech Payments 2023. Let's welcome Ashley Mallett! Ashley… twitter.com/i/web/status/16393…

    March 24, 2023 7:32 pm

WhatsApp us