Gloabal migration trends have continued even as world economic growth slowed down in 2008 and stabilized in 2009. People continue to move outside their countries of origin in search of better economic opportunities and self actualization. Some choose the new place where they find themselves to be their home and banish any thoughts of maintaining links with, talk less of returning to, the home countries where they came from. Some, either because of a sense that their contributions are more valued there, return home and stay back there for good. Most however stay in their foreign adopted countries while maintaing fairly strong links with the home country: this category of migrants feel obligated or even burdened to financially support the families or communities they left behind at home.
Many take on this support cheerfully and dutifully, sending back home, the hard earned money they sweat to get in foreign lands. They give to Aunty Felicia to send the kids to school, so the kids get a better shot at decent education and the opportunities that brings in the future. They donate to the community trust fund to buid a new well in the village. They give when sibling John who has graduated from college and is almost reaching retirement age without a decent job, is finally getting married; when Uncle Sam is sick in the hospital and needs money to pay the bills or when money is needed for burial rites the dear Aunty Jemima. And when they start to get the twinge that they may one day resettle home, they start a “project” to build a house in the city. They send money for “foundation”, the type they hope will not be swept away by the winds and seas of the city. They send money to raise the house from ground level. And then they send some more money and then some more money, with no assurance a house is being built. Some start to think of legacy: they send money to help out the cousin who wants to start a fish farm and to buy power “generator” for the family house. Some simply want to bless the pastor who prayed for them to get a visa: they donate money to his fledgling church.
So several trends are going on today. The economy in the western world where most immigrants who send money back home are based, has tanked and it may take a while to get back on track. So these immigrants have a higher need for alternative options to send money home and conduct financial transactions across the globe: one that offers affordable cost, more choice on how they direct the money they send home to specific uses, more convenience in being able to effect and track spendings in a few clicks and more value added services. The other trend is that these immigrants are now increasingly comfortable with doing things online and on their mobile phones: from using their online banking portals to pay bills, to networking with friends and family on facebook and using their mobile phones to get on the internet.
PayLid is one such alternatives. Our goal is to give our customers options and to provide quality, easy to use service to them. Join us in the ride as we take payment processing to, from and within Africa to a new level.
