The remittance sector helps transferring money around the world. This industry appears to be continuously growing according to this report and this sector is widely used for payment transactions in Australia. The report highlights the close collaboration between Australian banks and money transfer operators.
The report analyzes the following issues:
- The functioning of the remittance sector : objectives, costs, risks and services;
- A global overview of the remittance sector: patterns, recent trends and impact;
- The remittance sector in the Australian financial sector: analysis of the remittance providers in Australia, migration flows in Australia, pricing and size of the remittance industry in the country;
- Trends in payment arrangements: present techniques and trends of the sector; and
- Public Policy issues: competition and money laundering issues, consumer protection aspects and Australian Regulation.