Traditional remittances are under attack by online competitors
Remittances to Latin America totaled $65 billion in 2014, a historical high, finally surpassing pre-financial crisis levels. Recovery of the US economy in 2013 and 2014 resulted in resumed growth of remittances to the region, particularly to Mexico and Central America, which achieved 8% and 7% growth in 2014 respectively. South America, in contrast, receiving