More Africans sending and receiving international money transfers want to see crypto-currency as future remittance option. innovations DigitalCurrencies crypto DigitalEconomy
A survey of 30 599 consumers aged 18 years and older, who send and/or receive international money transfers, asked respondents how, when and why they use international money transfer capabilities, as well as their expectations for tomorrow.Participants are from 20 countries across the Middle East, Africa and Asia Pacific. For Africa, the five key markets surveyed include SA, Kenya, Nigeria, Senegal and Morocco.
“Meanwhile, 18- to 24-year-old receivers are the most likely group to collect funds once a month or more: 81%, compared to the average of 72%.” “Older consumers are the most likely to need funds for this purpose – 38% of receivers aged 55 and over. More than three in 10 women say they collect funds for family financial support, compared to 20% of men.
The index shows economic challenges, such as higher global cost of living, mean 81% of receiving consumers across the African continent are asking senders for more money. Getting the best exchange rate and keeping down the cost of transactions matters more than anything else to senders , while almost one-quarter of receivers also seek providers that offer the lowest deductions as they collect their funds.
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