Sep. 10, 2021
What is a remittance?
With the steady development of modern banking over the past decade, many complicated financial terms migrated into our daily jargon. Moreover, now financial operations are simple and fast: just with a few clicks on your smartphone, you can make a call, take a photo, or send money. While such words and phrases as transfer, debit card, and electronic money are understandable, there remain some financial terms that are more difficult to comprehend. That’s why Genome‘s team decided to talk about what does a remit payment mean in our article. Also known as remittance, this financial operation is widely used globally.