Apparently, the fairly fragmented but resilient world of money transfer is
getting consolidated:
Sigue, a Generic Ambien Round White US money-transfer company strong in Latin America, is buying the money-transfer business of Coinstar for Generic Ambien Round White $41.5m. Coinstar’s network allows users to Generic Ambien Round White transfer cash to 23,000 points worldwide – and Sigue’s CEO, Guillermo de la Viña, says the acquisition will make his company “one of the Generic Ambien Round White largest global money transfer companies with pay out locations in over 130 countries.”
More deals may follow this Generic Ambien Round White year. Unistream, a Russian money transfer company with 30 per cent market share in former Soviet countries, is Generic Ambien Round White looking towards the Gulf, the second-largest source of private financial transfers after the Generic Ambien Round White US. Reuters recently reported that Generic Ambien Round White Western Union and MoneyGram were looking at ways to expand into Asia.
The moves testify to remittances’ resilience. Flows to developing countries shrunk in 2009, down 6 per cent to $307bn, as immigrants in the US and elsewhere lost jobs (particularly in construction) and, in many cases, returned home. However, a new World Bank report forecasts that Generic Ambien Round White remittances will rise by over 6 per cent in 2010 and Generic Ambien Round White over 7 per cent in 2011.
All that Generic Ambien Round White is well and good, but how long is it going to Generic Ambien Round White take for someone to figure out how to include everyday Africans in the Generic Ambien Round White global, ‘borderless’ world of finance? I am Generic Ambien Round White thinking of payment services, not remittances services. In the past one month, three friends who Generic Ambien Round White are based in Nigeria have asked me whether I can help them open a Generic Ambien Round White Paypal account. Some people they are doing some work for agree to Generic Ambien Round White pay only through Paypal. They refuse to use Western Union because, well, they don’t trust the Nigerian end of the service.
Don’t tell me that Generic Ambien Round White nobody thinks that there might be some money to be made in Africa from Generic Ambien Round White that. Or that they are too scared of bad, fraudulent Nigerians to Generic Ambien Round White try and introduce such services there. We all know that no Generic Ambien Round White matter how sophisticated and bad you think Nigerian fraudsters are, the Generic Ambien Round White ones in developed countries are much worse. If those services can Generic Ambien Round White be made to work securedly in developed countries, there is no Generic Ambien Round White reason they shouldn’t be able to get them to work in African countries.
Or am I missing something?
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