Millions of households in developing countries receive financial support that their relatives send from rich countries in Europe, North America, Asia and Middle East. During 2015 global remittances amounted to $USD 431.6 billion, an increase of 0.4% compared with 2014. Many of these families are totally dependant on the money that they receive from overseas and they will struggle without this support. But, how does remittances help your family abroad?

• Increases education

In most cases, this extra money is used to pay school fees, that otherwise would be very hard to assume. If we take into account that the level of schooling is still too low in many of the developing countries, remittances are crucial to reduce illiteracy.

• Reduces child labour

As a result from the former, children are able to go to school instead of working; being forced to contribute to their family´s delicate economy. There are 168 million of children employed around the world, sometimes even in unpaid and or hazardous jobs. Asia and Sub-Saharan Africa are the regions with highest incidence of child labour.

Have you ever thought of sending money with the simple movement of your hand? Now it is possible, thanks to the new Small World APP. Our aim is not only to make your transfers safer, but also more confortable and easier for you, that is why we wanted to offer you a way to send money with a single click which is called “One Swipe Send”. Here is how it works:

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.