WorldRemit continues to grow and reach every corner of the world and every demographic unlike traditional Somali money transfers. This is no doubt the first Somali-owned business that truly went global.
Digital money and remittance firm WorldRemit has expanded its services into Ukraine, Armenia, Belarus and Kazakhstan.
The move has been underpinned by WorldRemit’s partnership with Contact, the Russian payments system. WorldRemit users can now send money to be collected as cash pick up at more than 3,000 locations in Ukraine, 330 in Kazakhstan, 120 in Belarus and 65 in Armenia.
“Many migrants living abroad work hard to support family members back home in Ukraine, Armenia, Belarus and Kazakhstan,” says Ismail Ahmed, Founder and CEO at WorldRemit. “Until now, they’ve had to endure the inconvenience and high fees from visiting offline money transfer agents. Now with the WorldRemit app, they have a simple, convenient and safe way to send money to their local communities.”
With this move WorldRemit continues a global expansion that has seen it break into Malaysia, Thailand and Vietnam, Pakistan and Africa.
Its biggest client is probably The Philippines. The global remit by Filipinos back to The Philippines is worth almost $30 billion per year.
