Red Cross experiments with a very different money remittance approach

Thursday, August 7, 2014

When Red Cross workers are helping with disaster relief in the middle of war-torn areas or natural disasters, the last thing they need to deal with are money-transfer headaches to secure critical supplies and services. Enter WorldRemit Ltd., which gets those humanitarian aid workers the cash they need through laptops or mobile devices, to more than 100 destinations and 35 countries, the Wall Street Journal reported Wednesday (Aug. 6).

The idea is that aid workers could get the funds as cash delivered by a courier, beamed into a mobile wallet or as a local bank deposit, the Journal said.

The approach is challenging because of the decidedly harsh physical and environmental conditions these workers—by necessity—are working in, places where infrastructure is often challenged. Natural disasters—as well as wars—can also impact telecommunications, which will make any communications difficult.

Source: PYMNTS (link opens in a new window)

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aid agencies, Base of the Pyramid, financial innovation, mobile money, poverty alleviation