IN UAE, REMITTANCES TOO BREAK DIGITAL BARRIER: In times past, a vignette of being an expat in the UAE was the trip to nearest remittance house, stand in the queue, peer up to the board displaying exchange rates live. While that community experience is still very much a part of the UAE’s social landscape, here too digital is making inroads. And in significant ways. A new Visa study finds that a significant majority of UAE remitters are going full digital in moving their funds to their home markets. Clearly, convenience trumps the fact that digital transfer of money comes with higher fees than at a physical remittance outlet. Will remittances go 100 per cent digital? (By Manoj Nair, Business Editor)
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