TechInAfrica – Nairobi and London, September 3, 2018 – WorldRemit introduced and launched its new digital money transfers to help African transfer and receive money in a simple and convenient way.
The digital service offers Africans across the continent to do the transactions at a low cost. The continent-wide-free trade agreement in March 2018 which allows people to pay the prohibitive charges for making a money transfer has always been a big issue for the regional integration.
They target Kenya, Rwanda, Tanzania, and Uganda for the innovations since their national economic growth grows fast.
WorldRemit transfers approximately $1.6 billion to the region which growing by 80% yearly. Due to the company daily trade activities with African countries, enabling it to have pan-African distribution network consists of bank, mobile money, as well as cash pick-up points.
The innovation offers a quick money transfer process, safe, and lower-cost which then gives a chance for smaller businesses to move to their service.
As the CEO and Co-Founder of WorldRemit, Ismail Ahmed made his statement regarding the launch of the digital service. He said that the vision of WorldRemit is inspired by the way people in the developed countries send money. The company wants Africans are also able to experience the same simplicity. He then also added that the company hopes the innovation with its benefits will help many people, including a small business owner, traveler, etc to send and transfer money in a fast, cheap, and convenient way.
WorldRemit’s customers make transactions through the digital service from approximately 50 countries to 145 destinations in the world. In 2017, WorldRemit became the first of Arsenal FC’s online money-transfer partner for a global sponsorship.
WorldRemit is changing the way people send money. It’s easy – just open the app or visit the website – no more agents.
- Transfers to most countries are instant – send money like an instant message.
- More ways to receive (Mobile Money, bank transfer, cash pickup, and mobile airtime top-up).
- Backed by Accel Partners and TCV – investors in Facebook, Spotify, Netflix and Slack.
WorldRemit’s global headquarters are in London, UK with offices in the United States, Canada, South Africa, Singapore, the Philippines, Japan, Australia, and New Zealand.