WorldRemit partners Huawei to expand mobile remittance transfers to Africa

11 Jul 2017
Financial Nigeria

Summary

WorldRemit processes 74 percent of all international transfers to mobile money accounts coming from money transfer operators.

WorldRemit Founder & CEO Ismail Ahmed

WorldRemit, a leading digital money transfer service, has announced that it has partnered with Huawei, a Chinese telecoms giant, to expand mobile-to-mobile money transfers to Africa, according to a statement on Tuesday.

Under the partnership, Huawei will add WorldRemit’s services to the telecoms company’s suite of mobile money products that services over 100 million mobile accounts.

“We are delighted to add our remittance offering to Huawei’s extensive range of services for mobile money providers,” said Ismail Ahmed, Founder & CEO of WorldRemit. “By making it easier to connect to our service, our partnership will accelerate our ability to introduce our safe, fast and low-cost remittance service to millions of people.”

WorldRemit is the first international remittance company to partner directly with Huawei. The deal, which was announced at the ongoing GSMA’s Mobile 360 conference in Dar es Salaam, is expected to accelerate WorldRemit’s technical integrations with new mobile money operators. WorldRemit processes 74 percent of all international transfers to mobile money accounts coming from money transfer operators.

Huawei built its mobile money services platform to help deliver basic banking transactions in developing countries. The company’s technology is not restricted, and because it works on both smartphones and basic handsets, it has been particularly successful in developing markets.

“International remittance is a very important mobile money service in Africa, and our partnership with WorldRemit will bring international remittances directly to Huawei’s customers across the continent,” said David Chen, Vice President of Huawei, Southern Africa. “Huawei is committed to providing advanced mobile money platforms and technologies to global mobile money operators.”

Founded in 2010, WorldRemit is available in 50 countries and 125 destinations worldwide, sending over 500,000 money transfers every month. The company has raised over $140 million from leading venture capital funds including Technology Crossover Ventures and Accel Partners.


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