IFAN Financial has its finger on the
pulse of the global funds transfer industry. This fact is evidenced by the
company’s recent newsletter outlining the details of international remittance,
which is a term used to describe the transfer of money from a migrant to an
individual in his or her home country.
International remittance is a byproduct
of a migrant workforce. With as many as one out of every seven people
relocating to find a better job, there is constant demand for the means to
reliably and affordably send cash back to loved ones in workers’ home
countries. Unfortunately, these remittances have historically come with a hefty
price tag. According to the World Bank, remittance fees have traditionally
varied between eight and twelve percent of the amount sent, but IFAN, through
its proven Quidme app, is prepared to change that.
With access to just a cell phone, users
around the globe can use Quidme to send money for a fraction of the cost of
traditional transfer methods. The safe, encrypted app has been shown as
effective in protecting user data, significantly reducing the threat of
identity theft and eliminating unauthorized transactions.
Despite the recent rise in smartphone
usage around the globe, the market still has a long way to go before becoming a
completely utilizable option for the remittance industry. According to a report
from Business Insider, approximately 80 percent of the global population still
lacks access to smartphones and PCs. IFAN addresses this issue through Quidme’s
text message payment option. By allowing for usage without the need for a data
plan, the company is placing itself in a strong strategic position to grow in
the developing world.
“IFAN has a highly relevant technology
platform that is just getting started in recognizing its potential,” stated
John De Puy, Director of IFAN.
As the company continues toward the
realization of its potential, look for IFAN to experience opportunities for
significant growth in the near future.
For more information, visit
http://ifanfinancial.com
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