Development of Digital Payments Systems in Non-Industrial Countries Like Philippines

Digital payments are transactions via digital or online modes, with no physical exchange of money involved. Digital Payments, considering their vast applications, have become a new standard, making people’s lives very much more manageable. Suppose you want to send money to Philippines; you should primarily use digital mediums to focus on […]

How does Remittance Become Lifeline Recovery After Pandemic For Developing Countries?

Total sent money to Nigeria by Nigerian expatriates in 2021 is decreased by 27%, but this money transfer to the home country is considered much valuable in lockdown and disease outbreak. As a result, diaspora remittances inflows into Nigeria plummeted 27% year-on-year (YoY) to $17.2 billion in 2020 from $23.55 billion […]

What Is The Impact Of Remittance On The Economy Of A Developing Country And Overall Global Economy?

Expatriates from Bangladesh send money to Bangladesh to indirectly support the country’s economy; the main purpose is to fulfill families’ basic needs like education, food, health, and other normal life necessities. Remittances are a vital source of funding for some of the world’s developing countries, and their value far outweighs ODA. […]

What Is The Total Impact Of International Money Transactions Between Nations On the Global Economy?

Billions of migrant workers send money to Pakistan and other developing countries to their families every year. The overall value of remittances hit a record $554 billion in 2019, according to the World Bank. Remittance account for a significant share of GDP in several nations. What are some of the challenges […]