International digital remittances will reach US$525 billion by 2024 as traditional players in the market face fintech challenges, according to a new research report.
With this figure rising to "4% of total international remittance by value", international remittances, including airtime top-ups via mobile phones, "will exceed $25 billion by 2018, up 67% from an estimated $15 billion in 2015".
Global money transfer service WorldRemit has launched instant remittances to mobiles in the Pacific region countries of Fiji, Tonga and Samoa.
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