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Wednesday, June 12, 2019

WorldRemit launches new product for business payments - ITREALMS

Leading digital money transfer company WorldRemit has launched WorldRemit for Business, a new service that enables small and medium-sized business owners to quickly pay their employees and contractors in 140 countries worldwide, including fast-growing emerging markets such as Kenya, Ghana, and South Africa. The platform will first be available to U.K.-registered businesses. 

WorldRemit’s low fees and exchange rates are shown up-front and customers can send money easily via the company’s website and app. By extending its money transfer service to SMEs, WorldRemit will save businesses time and money when they make international payments.

Each year, the UK imports $471 million in goods and services from Ghana where SMEs represent about 85% of businesses. WorldRemit for Business will make it easier for local enterprises to receive payment by UK-based partners via bank account, mobile money, and cash pick-up. While some banks can take up to one week to process payments, WorldRemit transfers to Ghana are processed within 24 hours or less.

Customers sending funds abroad can easily track their transfers in real-time on the WorldRemit app and opt-in to receive daily exchange notifications to send money abroad at the optimal time.

Ismail Ahmed, Founder and Executive Chairman at WorldRemit, comments: “When I first started WorldRemit, I was frustrated with the high charges and long delays in sending money abroad both as a business owner and consumer. Over the past 9 years, we’ve made it easier for 4 million people around the globe to send and receive money.

Today, we’re pleased to extend that service offering to businesses, and put an end to the steep fees that many pay, especially when sending to Ghana. We’re committed to making it quick, safe and easy for you to pay individuals across borders, leaving you to focus on growing your own business.”

Shane Lennox, Senior Product Manager for Business, comments: “With more people moving and settling across borders, the nature of business is becoming increasingly global. This new product offering is catering for those in need of a digital service that solves a number of pain points faced by SMEs with international staff and contractors. This new product launch will enable millions of SMEs to benefit from our award-winning convenient service.”

WorldRemit customers complete over 1.4 million transfers every month from over 50 countries to over 140 destinations using its app or website and remains committed to providing innovative solutions to meet money transfer needs across the world.


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