WorldRemit launches mobile-to-mobile remittance service in US
WorldRemit has expanded its presence in the US by introducing mobile-to-mobile remittance service to migrants living in the country.
Using WorldRemit, over 40 million migrants living in the US will be able to transfer funds from their phones directly to over 112 million cell phones in developing nations.
WorldRemit facilitates over 600,000 transactions a month from 50 plus countries to more than 140 destinations.
The company is also drawing on the mobile money technology, which allows users to send and receive money using their cell phones – without the need for a bank account, 3G connectivity or wifi.
WorldRemit founder and CEO Ismail Ahmed said: “A Filipino nurse in San Francisco or a Kenyan taxi driver in Miami can now send money back home instantly – supporting the transition from costly offline remittances sent from bricks-and-mortar agents to faster, safer and lower cost online transfer methods.”