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The history of international mobile remittances is inextricably linked to the development of the mobile phone and its acceptance globally. [1] [2] [3] Today, international mobile airtime recharge is the most widely used mobile phone remittance service. It accounts for nearly 75% of all mobile remittance transactions. [4]
T-Mobile US, Inc. is an American wireless network operator headquartered in Bellevue, Washington. Its largest shareholder is Deutsche Telekom, a company that operates telecommunications networks in several other countries. T-Mobile is the second largest wireless carrier in the United States, with 127.5 million subscribers as of September 30 ...
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Remitly was founded in 2011 as BeamIt Mobile. [5] [6] The company was initially a search engine for remittance services but shifted into money transfers soon after. [6] It changed its name from BeamIt to Remitly in August 2012. [7] In April 2013, Remitly announced that it would allow its users to send free money transfers to the Philippines. [8]
The following is a list of notable online payment service providers and payment gateway providing companies, their platform base and the countries they offer services in: (POS -- Point of Sale ) Company
The profitability of the remittance market, along with the growth of Electronic Funds Transfer technologies has also led to the creation of numerous internet based remittance companies such as XOOM and Remitly. [8] Alternative digital business models were deployed by RegaloCard [9] and Priver providing free and instant transfers via mobile [10]
WorldRemit focuses on cross border remittance money transfers from over 50 countries to over 130 countries around the world. [8] For those receiving money, it offers pay out options including bank deposit, mobile money, mobile airtime top-up and cash pick-up as well as cash delivery. The firm has a network of more than 5,000 corridors.
Ria Money Transfer is a subsidiary of Euronet Worldwide, Inc., which specializes in money remittances. [2] [3] [4] Ria initiates transfers through a network of agents and company-owned stores located throughout North America, South America, Europe, Asia-Pacific, Africa, and online.