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WorldRemit Raises $45M to Tackle $600B Market
Remittances start-up WorldRemit has raised $45 million in debt to help it tap the business of using mobile wallets to send money across emerging markets.
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- fintech, remittances
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Mobile Money Set to Disrupt International Remittances Market
Amdocs (Nasdaq:DOX), the leading provider of customer experience solutions, today released the results of a new survey examining consumer attitudes towards different ways of transferring money internationally. With the World Bank citing that the international remittance market is expected to reach $610 billion1 this year it represents an attractive, fast-emerging revenue stream for mobile financial services providers.
- Categories
- Technology
- Tags
- fintech, remittances
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Remitly Nears $1B Mobile Money Transfer Mark
Remitly, a U.S.-based mobile payments service, is nearing its next milestone. The company announced yesterday (Jan. 12) that its money transfer growth grew more than 400 percent in 2015, giving it close to $1 billion in annualized mobile money transfers. The company noted that December was a record month for the company.
- Categories
- Uncategorized
- Tags
- remittances
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Mobile Money Without Borders: How a new model is transforming the remittance landscape in West Africa
International remittances are a major source of income for people in many developing markets, and Africa is no exception. But Africans pay the highest remittance transaction fees in the world. The industry has been experimenting with a new model that uses mobile money to address this issue. The GSMA shares insights into this model, highlighting results from their recent case study.
- Categories
- Education
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Remittance Platform for Healthcare Services Takes Off in India
With over 22 million non-resident Indians (NRIs) sending $76 billion annually to support their family’s financial needs back home, India is by far the largest remittance market in the world.
- Categories
- Health Care
- Region
- South Asia
- Tags
- remittances
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MTN Rwanda Deepens Financial Inclusion with Mobile Money Regional Remittance
In yet another exciting development in mobile money innovation, MTN Rwanda, the country’s telecommunications leader has announced that it has opened its corridor with Safaricom in Kenya that will see MTN Mobile Money and M-PESA users send and receive money seamlessly and affordably between the two countries.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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Zimpost Extends Money Transferring Service to Nigeria
Harare- Zimbabwe’s postal and courier company, Zimpost has extended its money transfer service to Nigeria with immediate effect to allow the sending and receiving of money among citizens from the two African states, the postal company’s communications officer Anna Munembe has said.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
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Mixed Fortunes for Agents as Customers Embrace Direct Cross-Border Mobile Money Transfer Service in Rwanda
Electronic payment systems, like mobile money services, have become one of the most convenient ways of paying utility bills, as well as sending money to the remotest village and buying top-up airtime. From students to the working class, traders, and peasants, anyone with a mobile money service registered cell phone number is one only an agent-away from receiving their cash.
- Categories
- Uncategorized
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