Mobile Money and
International Remittances

 

International remittances are critical to the livelihoods of hundreds of millions of people in the developing world, and mobile technology is one of the most exciting forces shaping how people send and receive them today. Around the world, people are increasingly shifting to digital channels, including mobile phones. The revolution that mobile money brought for domestic payments and cash transfers is now being repeated in international transfers.

This digitisation is helping to reduce the costs of sending money internationally, bringing us closer to the achievement of the United Nations Sustainable Development Goal 10. C, as well contributing to the achievement of other UN SDGs, such as reduction of poverty, gender equality, and climate resilience. In total, international remittances via mobile money contribute to 14 of the 17 SDGs.

Our Insights

Competing with informal channels to accelerate the digitisation of remittances

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Tuesday 8 May 2018 | Digital Inclusion | Digital Inclusion for Women | Ecosystem payments | English | Financial services products | Global | Infographic | international remittances | International remittances | Interoperability | Mobile access and use | Mobile Money | Mobile Money Programme | Report | Research | Resource |

International remittances provide the most tangible link between migration and development. At more than three times the size of official development assistance, remittances are a lifeline for many people in developing countries. In ...

Guidelines on International Remittances through Mobile Money

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Monday 18 Sep 2017 | Digital Inclusion | Digital literacy | Digital skills | Ecosystem payments | English | Financial services products | Global | Guidelines | international remittances | International remittances | Mobile literacy | Mobile Money | Mobile Money Programme | Resource |

This set of guidelines illustrates how the mobile money industry is collaborating to ensure international remittances are facilitated in a safe and secure manner, consistent with global standards and local monetary policies and ...

Because of its reach and growing use among underserved people, mobile money is uniquely positioned to transform formal remittance markets and to advance financial inclusion. Mobile money providers are at the forefront of domestic payment services in many emerging markets, enabling the recipients of international remittances to pay for goods and services digitally, in turn creating a payments history that could enable them to access credit or insurance in the future. Mobile money has thus established itself as a critical tool for facilitating international remittances, while reducing remittance costs and maximising the impact of remittances on development.

For more information on mobile money and international remittances, read our latest blogs and resources or email us at mobilemoney@gsma.com.

 

Hear from industry experts

UNCDF’s Tillman Bruett on international remittances via mobile money

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Thursday 16 Aug 2018 | Digital Inclusion | Ecosystem payments | El Salvador | English | Financial services products | Global | international remittances | International remittances | Mobile for Development | Mobile Money | Mobile Money for Women | Mobile Money Programme | Resource | Social impact and behavioural change | Sub-Saharan Africa | Tanzania | Video |

Tillman Bruett discusses the transformative impact of mobile money-enabled international remittances for low-income people, and the importance of industry collaboration for finding solutions to know your customer (KYC) challenges.

Central Bank of El Salvador’s Otto Boris Rodríguez on international remittances via mobile money

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Wednesday 15 Aug 2018 | Ecosystem payments | English | Financial services products | Global | international remittances | International remittances | Mobile Money | Mobile Money Programme | Policy and regulation | Resource | Video |

Otto Boris Rodríguez of Banco Central de Reserva de El Salvador) discusses the regulatory challenges surrounding international remittances via mobile money, in particular how they are a significant barrier to entry and scale for mobile money providers.

Vodacom Tanzania’s Polycarp Ndekana on international remittances via mobile money

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Tuesday 7 Aug 2018 | Ecosystem payments | English | Financial services products | Global | international remittances | International remittances | Mobile Money | Mobile Money Programme | Policy and regulation | Resource |

Polycarp Ndekana, Head of M-Commerce Business development & Marketing (Vodacom Tanzania), explores the benefits and impact that international remittances via mobile money have had on people in Tanzania.

GSMA’s Claire Scharwatt on international remittances via mobile money

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Wednesday 13 Jun 2018 | Ecosystem payments | English | Financial services products | Global | international remittances | International remittances | Mobile Money | Mobile Money Programme | Policy and regulation | Resource | Sub-Saharan Africa | Video |

GSMA's Claire Scharwatt discusses the importance of collaborating with the industry to ensure international remittances via mobile money are facilitated safely and securely and consistent with global standards and local policy and regulations.

Relevant Blogs

Mobile money: promoting the use of faster, safer and cheaper international remittances

The International Day of Family Remittances (IDFR) is a globally recognised observance adopted by the United Nationals General Assembly, which celebrates the pivotal role of remittances in improving the lives of millions of migrants and their families. GSMA Mobile Money has ...

How do mobile money-enabled remittances contribute to achieving the SDGs?

With over 866 million registered accounts across 90 countries globally, mobile money is ideally placed to accelerate the formalisation, accessibility and affordability of international remittances. Today mobile money has evolved into a sophisticated value proposition that is ...

GSMA Mobile Money celebrates the International Day of Family Remittances

GSMA Mobile Money celebrates the International Day of Family Remittances 2018 with Alexander De Croo.

The GSMA endorses the International Day of Family Remittances

Mobile technology is one of the most exciting forces shaping how people send and receive international remittances today. Around the world, people are shifting from traditional channels to their mobile phones. This is helping to reduce costs, bringing us closer to the ...

Sending and receiving remittances with mobile money: Customer benefits and the potential to drive down cost

To mark the second annual International Day of Family Remittances, today, we are highlighting the key role of the mobile money industry within the global remittances space. This post is the first in this series, and focuses on the customer benefits of sending and receiving ...