Value Remit enables immigrants and expats in retaining control over how their remitted funds are utilised by their friends and families (beneficiaries) in home countries.
Cross border workers payment is over US$ 600 BN industry with countless players and intermediaries like banks, money exchangers, MTOs and MSBs, etc. enabling transfer of funds across borders. Cost and speed per transaction remainm major concerns of remitter as the cost of sending money internationally averages around US$5.
Another significant concern of remitters especially in the third world countries is how their hard earned money is utilised by their friends and families back home as they loose control of remitted funds as soon as the same reach beneficiaries. We come across many examples where the remitters keep sending money to their families in home countries and eventually come to realise once they get back that the money has not been utilised the way they intended to.
Value Remit enables the remitter in making cheap seemless payments to beneficiaries retaining complete control over how their funds are being used by them. Our solution is based on blockchain as smart contracts are used to connect remitting intermediaries with relevant players at beneficiaries end like banks, e-commerce players, utility companies, schools, NGOs, etc.
More information you will find here