The Global Remittance Economy With WorldRemit's Earl Melivo
Immigrants to wealthy countries all over the world often send money back to family in their home country. These are called Remittances, and there is a lot of money involved. The IMF estimates that it is around $600 Billion dollars a year. But, the remittance system is fraught with challenges. So, we are talking with a company that is looking to solve these problems.
As much as 10% of the Philippine economy is said to be remittances. Yet, only 37% of global remittances are digital. WorldRemit is looking to change that. They are building a global digital payment system to make sending remittances easier faster and less expensive. Today we have with us from Manilla, Earl Melivo, a global payment expert and Director of Country and Business Development for WorldRemit. He is going to fill us in on the growing global remittance market.
Welcome Earl
Transcript
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