[2016-10-19]Western Union Revenue Drops amid Rise of P2P Services such as BTC

[BTCBinary]

Western Union Revenue Drops amid Rise of P2P Services such as Bitcoin

In a new report by FXCompared, it has become evident the money transfer business is starting to lose momentum. In most cases, sending money around the world remains a very expensive business. Up-and-coming solutions such as cheaper remittance, and even cryptocurrencies, present far cheaper and global options. Mostly Western Union is losing out on a lot of money. Not entirely surprising given their ridiculous fees...

http://www.newsbtc.com/2016/10/19/western-unions-revenue-drops-amid-rise-p2p-services-bitcoin/

[n691309]

" The average remittance transfer fee is still 7.5%, which is a lot of money for a service virtually anyone with the cash flow could provide. In the case of Western Union, they remain the second most expensive company to transfer money around the world to date."

Now just calculate how much would western union take when people transfer 1 million us dollars, that is 75,000 USD, isn't that way too much? By transferring through bitcoin that could not cost more than a dollar or maybe less.

[European Central Bank]

this is a typical cryptonews article trying to crowbar bitcoin in where it barely registers at all. the article itself nominates companies like transferwise as the main reason for the fall. i'm sure bitcoin is in there somewhere but it's gonna a fraction of 1 per cent.

[Das]

Transfer wise is gaining momentum fast mainly due to its low fees. People have not adopted bitcoin that much.

[TraderTimm]

Transfer wise is gaining momentum fast mainly due to its low fees. People have not adopted bitcoin that much.

[ Citation Needed ]

Seriously... just look at localbitcoins and the spikes in volume they've had regarding other countries.