Abstract
The growing of the global migration phenomenon connects various socioeconomic issues with the need for money transfer services offered by companies such as Western Union. Both bank, exchange standards and the migration laws that are adopted in a different system in each country, influences the definition of the service model for the international transfers. This study is sought to examine whether the services provided by Western Union can be seen as a social function. Based on the analysis of the interviews, it was concluded that from the migrant point of view the social issues involved with the possibility of money transferring is a direct solution to improve the lives of their families, and thus diminish the poverty in many regions of the world. In relation to the company focus, the social function that their service facilitates, does not define or distinguish its market positioning.
Highlights
Throughout most of human history, the land was considered the greatest measure of wealth of a man or nation, while during the middle ages the possession of gold and silver was the index of his power
This article was developed through a descriptive and exploratory case study, in order to obtain information by means of multiple sources of evidence related to the Western Union, a company whose activity is based on the financial services sector of global money transfer
In order to understand how different actors perceive the function of the money transfer, we interviewed both users and offers
Summary
Throughout most of human history, the land was considered the greatest measure of wealth of a man or nation, while during the middle ages the possession of gold and silver was the index of his power. This redefinition of power started to unify the global markets, which led the physically fit to work population to participate in the resumption of the progressive elimination of the world geographical boundaries (Saraiva, 2007) In his famous 1776 book called the Wealth of Nations, Adam Smith outlined the disposition of an economic behavior system, known today as capitalism, in which he predicted that the productivity increase does not necessarily extend its gains among the workers populations (Kotler, 1997). Antunes (2008) adds that the developed nations are increasingly dependent on foreign labor and are benefited from these migration flows, because they need both the highly skilled workers as well as people willing to perform operational tasks These migrants send annually back to their home countries more than the triple of the total world resources for humanitarian aid, which turned these remittances in the main external source of money in developing countries. The article is divided into four periods: a) the theoretical foundation that positions the phenomenon of international transfers; b) the methodology, which explains how the data was collected and analyzed; c) the data analysis and comments of the main findings; d) the final conclusion
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