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An informal value transfer system is an alternative and unofficial remittance and banking system, that pre-dates current day modern banking systems. The systems were established as a means of settling accounts within villages and between villages.
Cash transfer programmes in developing countries are constrained by three factors: financial resources, institutional capacity and ideology. [3] Governments in poorer countries tend to have restricted financial resources, and are therefore limited in the amount they can invest both directly in cash transfers and in measures to ensure that such programmes are effective. [3]
Unconditional cash transfer (UCT) programs are philanthropic programs that aim to reduce poverty by providing financial welfare without any conditions upon the receivers' actions. [1] This differentiates them from conditional cash transfers where the government (or a charity) only transfers the money to persons who meet certain criteria. [2]
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Money transfer generally refers to one of the following cashless modes of payment or payment systems: Electronic funds transfer , an umbrella term mostly used for bank card-based payments Giro (banking) , also known as direct deposit
A value transfer system refers to any system, mechanism, or network of people that receives money for the purpose of making the funds or an equivalent value payable to a third party in another geographic location, whether or not in the same form. The average size of the payment is an indicator of the system's use.
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