We offer more than just sending. Wise actually charges fees too, that make lower transfer values more expensive. But beyond transfers, Wise doesn't allow it's users to hold NGN, KES, GHS, for example, nor do they allow users to send from Africa into NA/EUROPE.
Everything. Slow email support. Different customer service rep every iteration. Replacing debit card. Debugging declined transactions with sufficient money. All of it.
These are my biggest pain points and your solution is similar to what I had in mind but more geared towards the lesser served markets: Portuguese and French speaking countries.
1) Sendwave only provides remittance into Africa (among other continents), but you can't bring funds out of Africa via Sendwave. 2) That's all Sendwave does, just that one service. 3) We offer user's accounts in their country of origin (KES for a Kenyan), plus an account in their country of residence (USD if now residing in the US). Then we allow for instant interaction between the two (so users can send money out of Africa), as well as other services, plus other services to come.
I'd advise you begin by understanding the regulation in the markets you want to service. If this is just Panama, and you want to begin with domestic interactions, then understand what license, if any, you need in order to process payments or hold funds on behalf of your users.
I can imagine Western Union and the like would certainly love to move more money, as they're paid per transaction - what makes it so that they don't make it easier?
