As more and more attention is focused on serving the underserved banking population in the United States, international remittances are emerging as a table stakes service for many individuals that fit this profile. PayPal has been working hard to expand their presence in the traditional banking market and their ability to deliver on international remittance services could be another key to unlock the value of the traditional market for them. From a Credit Union Times article:
According to Schatt, PayPal’s SendMoney for Financial Institutions product allows funds to be sent to people in more than 60 countries with email addresses and more than 10 countries with mobile telephone numbers.
Click here to read more from the Credit Union Times.