Technology gave us many conveniences in the past few years. We were given social media, high-end cellphones, self-controlled cars, drone cameras, and even self-beautifying camera filters. Out of all these innovations, many were wondering if we can ever achieve wireless money remittance. After all, the advent of wireless bill payments is already a trending and well-accepted thing now. So why couldn’t money remittance get the same amount of ingenuity as well? Worry no more, as according to a recent study, the role of cellphones as a driving force in international money remittance is just getting its piece of the spotlight.
Here are just a few excerpts from the recent study. The results may amaze you:
The 2016 study from Juniper research states, “Over the past two years there’s been fast growth in international remittance due to the increase in the number of cross-border mobile services being implemented.
As more people transition into using mobile transfers more frequently and begin sending higher amounts globally, mobile remittance services will continue to diversify and evolve to offer more user-friendly solutions.”
In short, compatibility and reachability is enabling us all to use our mobile phones more freely than before, now entering the realm of finances and remittance. We should not even forget that there are many OFWs abroad; hence, it wouldn’t be surprising that there would indeed be an increase in the usage of mobile money remittances.
You might be thinking, okay, so are there any other reasons for international remittance to go mobile? Yes, there is. As a matter of fact, the Juniper research also states that,” Over 2 billion people worldwide are still unbanked, unable to save or borrow money from micro-finance or larger institutions due to the economic state of the countries they reside in or geographical location that puts them out of reach of many banking services, the question fueling the future of finance is how can the industry tap into servicing not only the current users but those who could substantially benefit from financial solutions?
The common link between current financial customers and potential consumers is a mobile phone. At present if you wish to send money via an offline method to some of the world’s most far flung and impoverished nations the process can be difficult not to mention slow.”
So, with mobile phones linking us all via social media, the same can be said for financial transactions, linking one family member to another. There are always safety measures to ensure that all our transactions are safe. With just a few years of progress, both the conditions of our personal information and remittances are no doubt, going to be in safer hands.(Source: https://blog.riamoneytransfer.com/role-mobile-playing-international-remittance/)
With all of that being said, why not get into the trend? Treat yourself to the convenience and hassle-free service that only the best has to offer. Cebuana Lhuillier introduces its Mobile App that will enable clients to use their mobile devices in availing Cebuana Lhuillier 24KOnline services like Appraisal Calculator, Renewal/Redemption, Rates Inquiry, Remittance Tracking and more. Download it now via Google Play!