Worldremit Expands Its Money Transfer Services To Tanzania
World Remit, a Digital money transfer service, is consolidating its rapid growth into Tanzania. This London-based online money transfer company announced on Monday that it has expanded its services to this country in East Africa with the aim of supporting the growing demand for instant money transfer to the country from millions of expatriates living abroad
The company said, “Our Mobile Money partnerships together with the current services for cash pick-up and bank deposits will give Tanzania more options to choose from. We will further support the migration from expensive offline remittances through street agents to safer, cheaper and faster online transfer methods.”
The Company also announced that more than 10,000 unique transactions, which to them is a new record, were completed in December last year. The company also said that they hit a 150 percent YoY growth last year. They attribute this growth to the rapid increase of mobile money accounts as the preferred way of receiving money.
According to the Company, customers from anywhere in the world can send money to their friends and loved ones in Tanzania through Mobile Money to Zantel Ezy Pesa, Vodacom M-Pesa and Tigo Pesa Mobile Money accounts, as well as a cash, pick up service and bank deposit.
World Remit also released a report saying that the biggest remittances to Tanzania come from migrants currently living and working in Canada, Norway, Australia, Sweden and the United Kingdom.
Referring to the WorldBank data, the founder and CEO at WorldRemit Ismail Ahmed said that remittances to Tanzania play an important role in country’s economy. He also added that more than $390 million was injected into the Tanzania economy in 2016 which is almost ten times the 2010 remittances.
He said, “Remittances from immigrants abroad play a vital role in the growth of Tanzania’s economy. For instance, in 2015, Tanzania received more than $390 million according to the report released by WorldBank which around ten times the amount the country got in 2010.”
Currently, World Remit customers in more than 50 countries can send money instantly and securely to more than 140 destinations worldwide. Referred to WhatsApp of money,’ the company money transfer system makes the art of sending money to friends and loved ones as easy as sending a text message.
WorldRemit is an online money transfer company based in London available in more than 50 countries and 140 destinations. Sending money to most countries using WorldRemit’s online system is instant just like a text message. Recipients can receive via cash pickup, bank transfer, Mobile Money or mobile airtime top-up.
Interested individuals can download the company’s app or visit its official website. There are no agents involved when sending or receiving money.
In Other News Released by World Remit
Filipinos from overseas countries sent to their relatives in their motherland $12.5 to $32.5 more than usual for Valentine's Day.
Filipinos living and working in Germany are the most generous lovers in Philippians sending the highest amount of money during this Valentine period. This is according to the February 13report released by World Remit, a top money transfer service.
According to their data, Filipinos living and working in Germany sent approximately P1, 623.21 ($32.5) more than usual to their partners in the Philippines for Valentine’s Day.