Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Finance

WORLDREMIT SEES HUGE GROWTH IN MONEY TRANSFERS TO TANZANIA

WORLDREMIT SEES HUGE GROWTH IN MONEY TRANSFERS TO TANZANIA

Digital money transfer service hits 10,000 unique transactions per month

Digital money transfer service WorldRemit is consolidating its rapid expansion into Tanzania, supporting the growing demand for instant remittances to the country from over 4 million expatriates living abroad.

 Today WorldRemit is announcing:

  • A new record of 10,000 unique transactions completed in the month of December 2016 alone
  • 150% YoY growth in 2016, driven primarily by the rapid expansion of Mobile Money accounts as the preferred receive method

 WorldRemit customers can send money to Tanzania via Mobile Money to TigoPesa, Vodacom M-Pesa and ZantelEzyPesa Mobile Money accounts, as well as bank deposit and cash pick up.

 The biggest senders to Tanzania include migrants currently living in the UK, Sweden, Australia, Norway and Canada, amongst others.

 With WorldRemit, people in more than 50 countries can send instant, secure transfers to more than 140 destinations. Known as the ‘WhatsApp of money’, WorldRemit makes sending money as easy as sending an instant message.

 Remittances play an important role in the economy of Tanzania – in 2015 the country received a total of $390 million according to the WorldBank, almost ten times the amount received in 2010.

 Ismail Ahmed, founder and CEO at WorldRemit, comments: “Our Mobile Money partnerships combined with existing services for bank deposits and cash pick-up will give more choice to Tanzanians, further supporting the transition from costly offline remittances via high street agents to faster, cheaper and safer online transfer methods”.

 WorldRemit customers currently send over 580,000 transfers every month.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post