Mr Samoei: Points Technology and Money Transfers

mr samoei: Key points Technology is making international money transfers cheaper and quicker Using apps, there are several options to send money overseas The services are particularly beneficial in countries where infrastructure is poor Mr Samoei, 27, moved from Kenya to Australia four years ago and regularly sends money home to help his parents and large family to make ends meet in the city of Nakuru, according to Australian Broadcasting Corporation. Historically, transferring money overseas could be expensive and time consuming, however Australia's big four banks' hold on the market is being challenged. ABC News Danuta Kozaki Map Australia This Christmas, migrant workers in Australia have more options than ever to send money back to families overseas just ask Abraham Samoei. Several apps allowing the fast transfer of money have been made available in Australia in the past 18 months due to regulatory changes in the financial sector. Western Union a traditional brand in the international money transfer market even has an option. Apps like World Remit and Ria have been developed by finance technology companies to trump traditional bank transfers by being cheaper and quicker. (news.financializer.com). As reported in the news.