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Wednesday, June 14, 2017

WorldRemit launches Android Pay, targets $600bn industry


Leading digital money transfer service has added Android Pay to its service, offering a new way for WorldRemit’s Android Pay users to send money internationally and reach millions using mobile money accounts, reports ITRealms.

Pioneering a mobile-first approach to the $600bn a year remittance industry, ITRealms gathered that this move sees WorldRemit bringing together the leading players in mobile payments from Silicon Valley and Sub-Saharan Africa.

Launching the global rollout of the service at MoneyConf 2017, WorldRemit via its Vice President, Products, Alice Newton-Rex, told ITRealms it would enable Android Pay users to safely and securely send money to +112 million mobile money accounts accessible via its network. The integration will make WorldRemit the only remittance provider offering international payments through Android Pay around the globe.

By connecting directly with Android Pay, WorldRemit customers can transfer money instantly across continents in just 5 taps - without entering credit card or 3DS details. Using mobile money, a recipient customer can then pay for school fees, utility bills and groceries among other things directly from their mobile phones - without the need for 3G or wifi. As Android Pay is supported by industry standard tokenization, payments are sent with a virtual account number providing an extra layer of security.

WorldRemit currently sends money to more mobile money accounts than any other operator in the world. The company enables migrants to send money from their smartphones to the mobile phones of the people they love, in over 140 countries to be paid out in cash, paid into a bank account or into a mobile money account.

“Currently 60% of WorldRemit app users are on Android, which is also by far the most popular mobile operating system in the developing world, where 2 billion people are still unbanked, but critically half a billion use their mobiles as a bank account,” she said.

The VP stressed that this integration with Android Pay is the next logical step of mobile first approach, and continues the commitment to provide greater financial inclusion.


Chuks Egbune/GEE
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