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Sunday, July 5, 2015

MasterCard taps Somali remittance business | View photo - Yahoo News

MasterCard taps Somali remittance business | View photo - Yahoo News

MasterCard taps Somali remittance business 
MasterCard has begun issuing credit cards in Somalia in a bid to tap the $1.6 billion annual remittances business, which was disrupted by anti-terrorism restrictions. After decades of conflict Somalia has no formal banking sector. Money transfer companies that enable the quick and easy movement of cash in and out of the country keep many families and businesses afloat.

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