[dvcc]

How often do international transactions actually occur though (for small payments between friends)? I feel like it is such a small market it probably is not worth the extra hassle from a legal/fraud standpoint.

As for outside the US, I was under the impression that most banks provide a free service for these transactions.

[guelo]

Remittances are one of the largest capital flows to developing countries totaling $400 billion in 2014.

As they say, if you could capture 1% of that market ...

[foobarqux]

... then you still wouldn't make much money because the margins are so low.