Market Overview

Study Reveals Remittance in Canada Leads the World on Per Capita Basis

DebitWay INTERAC® Online solutions make it easier for Canadian immigrants to send money home

(PRWEB) February 21, 2013

A recent article by Macleans.ca magazine has pointed to a trend in the remittance industry that is still being overlooked by most industry leaders: Canada is not only the third largest sender of remittance in the world but is the number one sender of remittance per capita than any other country, and only through using DebitWay INTERAC® Online solutions can remittance companies fully capitalize on this.

“Considering that in the same week both The Guardian UK and Macleans magazine have used data from the World Bank to place Canada in the top tier of remittance senders in the world is a huge indicator to the value of the Canadian market,” explains Jay Williams, Social Media and Press Relations manager for DebitWay.ca. “And as the Canadian remittance market grows, DebitWay INTERAC® Online solutions are the best choice for remittance companies looking to branch out into that market.”

World Bank statistics show that in 2012 alone $23.4billion in remittance was sent from Canada to countries around the world, placing it third behind only Saudi Arabia and the United States. One of the contributing factors for these impressive remittance numbers is the high immigrant population residing in Canada.

According to the Macleans.ca article “Part of the reason for the great outflow from Canada is the sheer number of immigrants in this country, accounting for roughly 20 per cent of the population. Canada's immigration point system favours higher-skilled, higher-earning, and thus higher-remitting immigrants. Workers on temporary permits also tend to send much greater amounts of money back home than traditional immigrants, and few countries use temporary foreign workers to the extent Canada does.”

“DebitWay understands the needs of Canada's temporary foreign workers and its immigrant population and has the product and the tools to ensure that the money they send home to friends and family is done safely and securely” says Jay Williams. “Making DebitWay.ca the standalone choice for remittance companies to enter into the Canadian market with a product that Canadians know and trust.”

DebitWay.ca can quickly and easily integrate any existing remittance company to accept INTERAC® Online solutions and increase their traffic significantly. Companies with a proven record of transactions and a commitment to offering their Canadian customers a safe, secure and trusted way to send remittance can email DebitWay directly to learn more at, social(at)debitway(dot)ca.

For more information about DebitWay, visit http://www.debitway.ca.

About DebitWay

Headquartered in Montreal, Canada, DebitWay.ca is a certified payment provider that offers INTERAC® Online Payment (IOP) solutions. Simply by adding additional Debitway.ca payment options to already existing platforms, Debitway.ca partners can begin accepting bank payments in real-time instantly.

DebitWay.ca's list of partners are comprised of some of the most experienced and knowledgeable people within the payment processing industry. Currently, participating financial institutions include: BMO Bank of Montreal, RBC Royal Bank of Canada, Scotia bank and TD Canada Trust.

Contact Information:

Rod Tomita
social(at)debitway(dot)ca
1-877-332-4802

For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2013/2/prweb10457697.htm

 

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