The demand for reliable, efficient and safe money transfer systems has never been greater. Increasing numbers of migrant workers, globalisation and the internet have all helped the money transfer industry to become a US $250 billion per year industry. That figure is likely to increase over the coming years aswell, the current growth level is 10-12% per year. This of course has lead to more and more companies entering into an already fragmented money transfer market and they are naturally all keen to get their slice of the revenue.
Many companies enter the market with new innovative ways to transfer money both on and offline and offer very competitive transfer fees compared to the traditional market leaders such as Western Union and Moneygram.
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March 1, 2008
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