Sending Money To China? It’ll Cost Ya!

What's Next In Payments®
8:41 PM EDT 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
Merchant Innovation
Is Apple Pay The (Real) Blackberry Killer?
Loyalty & Rewards
Amex’s Parting Gift to Canadian Costco Customers
International
StartUp Finds Gold In Online Transaction Data
Alternative Financial Services
New Online to Offline Use Case: App-Based Rent Payments
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
B2B Payments
ISO 20022: Worth the risk?
Hmmm
A New Way To Hire Contractors?
B2B Payments
ISO 20022: Worth the risk?
B2B Payments
Commercial Card Competition Heats Up
View All Articles ››