You will be surprised to know that $ 444.000 millions coming from remittances are injected in developing economies, (which will be like the full GDP of Sweden, or almost the triple of Ecuador) it seems quite obvious how remittances are necessary and in some cases, vital for millions of families around the world.

Taking into account that remittances save 750 millions of people from poverty, it is easy to understand the positive effects of this money coming from expats who have abandoned their home country in search for a better life. In under-developed nations, remittances are the engine of the economy and as an example, just in Latin America it represented $ 66.000 millions in 2014.

One of the most outstanding benefits of the remittances is without a doubt education. Millions of families can support their children´s education costs thanks to the money that family or friends send from abroad, and otherwise it would be very difficult or even impossible to confront school fees. The same happens with nutrition and good health; children and entire families can escape from devastating malnutrition thanks to that extra help.

Mobile Wallet refers to any payment service performed from a mobile device used as an alternative for paying in cash, by cheque, or credit cards, as you actually make payments by using your phone. In developing countries, Mobile Wallet is a very popular service that has extended financial services to the communities that do not have a bank account, estimated 50% of the world´s adult population. With this data in mind, this service is expected to continue to expand. In 2013 the total market for mobile money was $13.8 billion and is expected to grow to an amazing $278.9 billion. Kenyans are the world´s leaders in the use of this type of financial services but it is also becoming highly popular in other African and Asian countries.

There are many different ways to send money from one person to another. To choose a particular payment method, will depend on your needs and on those of your beneficiary, however; we recommend you to always compare the exchange rate offered for international transfers and the commission charged for the service.

These are the most common payment methods:

-Credit Card / Debit Card

Allows you to make an online transfer with the digits of your credit or debit card. To choose this payment method with Small World: enter in www.smallworldfs.com register, choose the country where you want to send money and the amount and choose: debit / credit as a payment method. Then enter the details of your beneficiary and within minutes you will have your money sent!

-Mobile Top up

Enables you to recharge the balance of your or third parties local mobile from abroad to avoid the expiration of your SIM card. Payment is made online by entering the phone number of the beneficiary and the amount of credit. You will receive immediate confirmation through email or SMS.