THE IMPACT OF ONLINE MONEY TRANSFER SERVICE ON THE ECONOMY OF WORLD
Blogger User October 28, 2019 0 COMMENTS
Online Money Transfer is one of the greatest success stories in the history of mobile modernizations. Almost every person is benefitting themselves by using this fascinating service. Other than helping customers, online banking has made some prominent impacts on the economy of the world. The GDP’s of the states having migrants or international students and businessmen are counted to be a way higher than others. Let’s have a look at how is this service causing impacts on the economies.
ONLINE SHIPPING CONCEPT: Online shipping is an advanced concept that emerged from online shopping. Now, by using mobile apps people are spending more than they did earlier. Transactions are being made to different countries on a daily basis. Efficient Money Transferring Companies such as Ace Money Transfers are providing their services in all over the world. By using quicker services, the world is automated and it’s affecting the GDP of different states, greatly. More money is being sent to countries, who have reputed product sellers in their states. People get their desired products shipped and along with their own benefit, it’s beneficial for the state too.
For Instance, if you have a product seller in the Philippines, you will have to send money to the Philippines in order to shop for your desired product. It will add to the revenue of the person who is working there, in the Philippines and simultaneously all the revenues will be added in the GDP of the Philippines. It will cause a rise in its GDP rate. Hence, when we send money to the Philippines online, it doesn’t affect the seller only, it’s benefitting their whole state too.
WORKING MIGRANTS: The number of migrants, who are working in abroad countries to earn for their families or loved ones, is increasing day by day. Approximately, 800 million people are being supported financially by their guardians who are working in another country. More people are trying to move around than before. Almost 258 million people are working out of their origin countries. While there may be several reasons behind these, some of the prominent reasons are state poverty, inflation rate, quality of education and living status. But this ratio is affecting the economic status of different states directly and positively. According to an estimate, migrants send usually 446 billion dollars to their families in home countries, every year. This is a huge factor and is seriously affecting the GDP curve. Moreover, the money that is sent from abroad is also noticed to be more stable.
Thereby, we can say that International Money Transfers is helping the people in fulfilling their family goals, cutting poverty and stabilizing the economic condition of different states. However, to improve and appreciate this, governments can still do favors that will help both people and the government.
RELATED ARTICLES
Latest News & Updates
- Automaker Industry: Facing Threat September 16, 2019
- The Role of Outdoor industry in US Economy September 15, 2019
- TRUMP DELAYS THE HIKES ON CHINESE September 12, 2019
- Starbucks: Going to Boost Employee’s Morale September 9, 2019
- McDonald and GrubHub together to Serve Americans September 7, 2019
- Tim Hortons: The Leading Brand of Canada not of US September 5, 2019
Standard Chartered: Massive Profit Rise in 3rd Quarter
Contact & Info
Categories
Our Story
ACE Money Transfer is a UK based Company and has been operating in the North West of England since 2002. Our head office was the starting point of the UK success story when we commenced business with retail clients and two business associates but after obtaining our Authorized Payment Institution (API) from Financial Services Authority (FSA) our company is now set to become a global name specializing payment services
Over the past 10 years, by keeping in mind basic necessities of people, understanding that they belong to different cultures and respect their values & norms, finally ACE decided to channelize our network into new dimension by giving opportunities to all communities to send their hard earn money back to their home. We have made this possible through our expanded network of agents, correspondents, partner banks, established branches in Europe, and MTOs (Money Transfer Operators) across the UK, Europe, Africa and Asia in more than 70 countries worldwide to entertain our 2 Million Customers around the globe to send & receive their payments through 200,000 locations that help us to build our credibility and retain customers trust on ACE Money Transfer.
The company success stems from the expertise and market knowledge of its senior management and this will ensure that the company is well positioned to make a positive impact to the market and will be able to sets itself apart from other remittance providers.
Recent Posts
- The Prospect of the Remittance Industry December 4, 2019
- Future belongs to Secure and Digital Money Transfer Services December 4, 2019
- Value Added Services in Digital Remittance December 4, 2019
- Is Digital Remittance the Ultimate Future? December 4, 2019
- How to Assess Your Online Money Transfer Options? December 4, 2019
- Glimpse of The Event Held at ACE Money Transfer Pakistan Office November 22, 2019
- Send Money through ACE Money Transfer Mobile Application November 6, 2019
- ACE MONEY TRANSFER BANGLADESH November 6, 2019