Sending Money To China? It’ll Cost Ya!

What's Next In Payments®
8:41 PM EST June 11th, 2012

Sending money to China is expensive, The Economist reports.

A comparison of those remittance corridors across the world with more than $500 million in money transfers, based on World Bank data, reveals China’s involvement in three of the five most expensive pairings. To transfer $200 to China from Japan costs nearly $36, the report estimates.

Meanwhile, the presence UAE Exchange is keeping remittance prices in the Middle East low.

Consumers sent $483 billion in remittance payments across borders last year, the World Bank estimates.

Read the full story here.

(Image via The Economist)

Comments
Also by This Author
What's Hot
News
Wells Fargo, JPMorgan Chase Face Justice for Mortgage Kickbacks
Company Spotlight
MasterCard Removes Block On Cuba Transactions For U.S.-Issued Cards
Security & Risk
OTA: 90% of 2014 Data Breaches Preventable
Merchant Innovation
At Davos, Bitcoin Finding Its Place Among World’s Elite
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
Cool
A Half Billion New (And Mostly Mobile) Users – What’s Next For The Web
News
Capital One Reports $999 Million Q4 Income
News
Wells Fargo, JPMorgan Chase Face Justice for Mortgage Kickbacks
News
PCI Chief Calls 2015 ‘Defining Year for Data Security’
View All Articles ››