A remittance is the transfer of money from one account to another, usually in exchange for services.
Remittances play a huge part in today’s financial environment, and if your company wants to send or receive payments, it’s critical to understand how they function.
The quantity of money transported globally has risen dramatically in recent years, owing mostly to more enterprises doing business with consumers and clients abroad. Economic migration is another significant aspect. As the number of individuals working overseas grows, so does the amount of money they send back to their family and friends. Progressive Finance Limited also has a remittance feature collaborating with more than 10 financial companies like eSewa, Himal Remit, Western Union, Muktinath Remit, City Express, and many more.