Another client research project has yielded some timely docs on remittances and mobile-money transfer products/services. Enjoy …
The World Bank: “Outlook for Remittance Flows” (2008 and 2009)
Both docs are forecasts on remittance flows from 2008 to 2011.
Voanews.com: “Remittances to Latin America Fall as Economic Crisis Hits Migrant Laborers” (March 2009)
A new report released Monday by the Inter-American Development Bank shows migrant workers from Latin America are sending less money home. The drop comes as the global economic crisis is leading to less work for migrants. The bank predicts that remittances to the region will decline this year for the first time on record.
The World Bank: “Interview with Dilip Ratha on Remittances” (April 2009)
Remittances will fall more than originally expected this year—from $305 billion last year to an amount closer to $290 billion in 2009, according to the latest World Bank research. But even with drop, remittances will still outstrip private capital flows, expected to fall by half in 2009, and official development aid, typically around $100 billion.
Remittances are “resilient” because many migrants are unlikely to leave their adopted countries and will continue to send money home, says economist Dilip Ratha, who leads the World Bank’s Migration and Remittances team.
Rabobank: “Remittances: A source running dry?” (March 2009)
In this report we identify which countries are most reliant on remittances, the proposed reasons for the inertia of remittance flows, and finally we’ll take a look at some recent developments and their implications for the overall vulnerability of countries to worker’s remittances.
Inter-American Dialogue: “Migration and remittances in times of recession: Effects on Latin American and Caribbean Economies” (May 2009)
The document analyzes the impact of the global economic downturn on family remittances and the subsequent effect that such an impact is expected to have on the Latin American and Caribbean economies.
Solvay Brussels School of Economics and Management: “Microfinance Institutions (MFIs) on the Remittances Market: Money Transfer Activity and Savings Mobilization” (2009)
This paper attempts to empirically measure the impact of a money transfer activity on MFI’s savings mobilization.
New Mobile Money Transfer Technology
Reuters: “Mobile money seen as chance for world’s poorest” (June 2009)
The article discusses mobile money transfer models at large and with specific cases mentioned.
Business Wire: “Visa Launches First Commercial Mobile Payment Service in Latin America” (June 2009)
Visa Inc., the global leader in payments, announced the start of a mobile payment program in collaboration with VisaNet Perú and Telefónica. Pago Móvil con Visa (Visa Mobile Pay) is a new service that allows Visa cardholders in Peru to pay for products and services by simply initiating a payment over the wireless network.
Western Union: “Western Union Introduces Digital Vendor Program for Mobile Wallet, Mobile Banking Platforms” (May 2009)
The Western Union Company (NYSE: WU), a global leader in money-transfer services, announced today the launch of its Digital Vendor Program intended to extend the reach and accessibility of Western Union Money Transfer(R) services to mobile finance initiatives in Latin America, Africa, the Middle East and Asia.
Reuters: “Fortis Microfinance Bank Alerts Customers Using Clickatell SMS Receipts(TM)” (May 2009)
Banking & Payment Technologies Conference, Muson Centre — Clickatell, messaging provider for financial services, has been selected by Fortis Microfinance Bank to provide SMS Receipts(TM) to thousands of retail banking customers throughout Nigeria.
Paybox.net: “Sybase 365 Teams with Swisscontact to Provide End-To-End Mobile Money Solutions in Emerging Markets” (May 2009)
Sybase 365 announced it will team with Swisscontact, the Swiss Foundation for Technical Cooperation, a leading global development organization, to provide sustainable development of Mobile Money Transfer (MMT) and Mobile Money for the Unbanked (MMU) services in emerging markets.