Manuel Orozco, member of the Financial Services Advisor board and director of the Migration, Remittances and Development Program at the Inter-American Dialogue: “Remittance transfers to Latin America and the Caribbean experienced 9 percent growth last year due to increased migration. The use of online transactions (mobile payment apps, web platforms and physical cards) to send money did not increase significantly, staying below 40 percent of all senders. Physical cash and electronic transfers are treated interchangeably but are not replaceable. In the next five years, remittance originations using online or digital platforms will continue regular growth, and it is possible that 60 percent of users will primarily resort to these payment vehicles. An important step to accelerate this process depends on…”