Trump’s remittance plan may trigger significant disruptions

President-elect Donald Trump’s well-publicized plan to build a border wall and make Mexico pay for it could have significant ramifications for a major sector of the payments industry. Trump has stated that the U.S. would suspend remittances to Mexico if it did not agree to cover the estimated $10 billion cost of building the wall. That is no small threat; Mexico is the fourth largest recipient of remittances globally, about $28 billion in 2016, according to the World Bank. Some $24 billion of that comes from the U.S., according to Aite Group, which estimates the total remittance market in 2015 was $582 billion. Read more: