Beyond technology: the uneven path toward cheaper digital remittances
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Accepted manuscript
Date
2023-06-14
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Accepted manuscript
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Abstract
Financial remittances that migrants and others send to families and friends abroad are an important source of economic support for many households in the Global South. Yet despite frequently surpassing official development assistance and foreign direct investment in remittance-receiving countries, these funds can be rather costly to send, especially for low-income migrants who are transferring relatively small amounts of money. Receiving the funds can also be complicated for people in underdeveloped or rural areas, where banks and other formal financial institutions are rare.