Remittance startups aim to reduce time, cost required to send money internationally by using the latest technology. WSJ profiles newer remittance FinTechs such as TransferWise, WorldRemit, and Remitly, as well as incumbents such as MoneyGram and Western Union. No matter the digital approach, the $600b in annual remittance payments worldwide presents a huge opportunity for FinTech.
The race is on to become the top global app for international money transfers. Fintech startups including WorldRemit Ltd., TransferWise Ltd. and Remitly Inc. are pulling ahead of the pack of the dozens of companies trying to disrupt the remittance industry, using the latest technology to send money internationally. More than $600 billion... To Read the Full Story