Working on audacious projects to make a positive impact in the world

Fintech Entrepreneur | Author | Speaker | Futurist

Summary of the book

Remittances, like most dominant financial services, penalise the poor—while sending large amounts of money cross-border is relatively cheap, small transactions incur huge fees. As a result, many people don’t send small sums of money, instead save up to make monthly transactions. On average, a Mexican migrant remits ~$300 13 times a year; but back home, imagine the cash crunch in between ‘paydays’. $20 goes a long way towards staples like airtime, food and utilities. More frequent transactions can have a profound impact on smoothing out income and allowing impoverished households to better save, plan, invest and grow.

This book explains why micro money transfers matter, the impact they have on peoples’ wellbeing, and the importance of transparency in an industry riddled with “confusion” pricing. It also outlines how the future of micro money transfers will develop, and how additional financial services can be layered on top to welcome the underserved into the formal financial system. Finally, this book provides money transfer operators with a blueprint on how to pivot your business model and future proof your business.

About Arunjay


Arunjay co-founded 3 start-ups,
with two exits one of which
was acquired by
Twitter in early 2015.


In May 2015, Arunjay won a
grant from the Bill and Melinda
Gates Foundation to enable
universal acceptance of mobile
money payments using basic
mobile phones.

Motivated by his passion for financial inclusion and solving poverty, Arunjay is focused on how he can use technology for good, breaking down barriers to democratise money. A highly regarded payment expert with strong strategic and analytical skills, Arunjay worked with the GSMA Mobile Money programme for five years. Where he provided a comprehensive understanding of the evolution of mobile money including analysing the impact of new technologies and business models. As advisor to the Head of Mobile Money, in 2018 Arunjay led the strategy pivot to a Payments as a Platform approach and helped secure $17m funding for phase 4 of the programme.

Arunjay helped set up the DFS Lab, and designed the programme to support start-ups in emerging markets. He runs DFS Lab’s fintech bootcamps, five-day design sprints to build and test concepts. And he has mentored over 20 start-ups, including Nala, NobuntuNumiPezeshaPulaTaniHub and Teller

As co-founder and CEO of Yooz, Arunjay is leading a revolution in remittances. The marginal cost of transferring money from the UK to India reducing to near zero, while incumbents continue to charge high fees – Arunjay is looking to transform the international remittances industry one payment at a time.

A true global citizen, Arunjay moved half way around the world from India to Trinidad and Tobago at the tender age of 22. He has since visited over 30 Countries across six Continents.

Arunjay spent the first five years of his career counting beans at EY.


2013 State of the industry: mobile financial services for the unbanked

Setting up shop: Strategies for building effective merchant payment networks

2014 State of the industry: mobile financial services for the unbanked

Embracing payments as a platform for the future of mobile money

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