Monday
August 22
2016

WorldRemit Brings Mobile Transfers to Malawi

Digital money transfer service WorldRemit has introduced overseas remittances to mobile money accounts in Malawi. Users of the WorldRemit app or website will be able to securely send money transfers to any Airtel Money account in the country.

There are now more than 2.5 million mobile money accounts in Malawi – a country with low levels of banking penetration. The new solution means friends and families of people transferring money from abroad no longer need to make long journeys to pick up cash from money transfer agents.

WorldRemit said it is the leading sender of remittances to mobile money accounts, partnering with 34 services in 26 countries. The firm processes a total of 450,000 money transfers every month, with over half of its remittances to Africa now received via mobile money accounts.

Source: FS Tech (link opens in a new window)

Categories
Technology
Tags
cash transfers, digital payments, financial inclusion, mobile money