WorldRemit | A convincing New Way to Send Money

As of 2020, WorldRemit service enables senders in 56 countries to send money in 90 currencies to 150 countries across the world. In fact, a third of the WorldRemit money transfers are received on mobile phones.

The company claims it is now the leading sender of remittances to mobile wallets worldwide. With its main goal being to provide a low-cost and convenient way for migrants to remit money around the world.

And known to few, the company’s typical customer will be sending money to a developing country from their mobile, the device of choice for most migrants.

WorldRemit

Basically, what I mean is that; you can simply and easily send money internationally with WorldRemit. With low fees and upfront exchange rates, transfer money to friends and family overseas in over 150 countries.

Their industry-leading technology protects your money and guarantees it arrives safely every time. Whereas, 90% of their transactions are authorized in minutes.

What is WorldRemit?

WorldRemit is an online money transfer service allowing people around the world to send money to their friends and family abroad.

The company was created in 2010 by Somali migrant Ismail Ahmed. This is while he was studying at university in London. Not to mention, the founder first recognized the opportunity to make money transfers cheaper and improve the experience of sending money.

Its mobile apps have great ratings on Apple’s App Store (with 4.8/5 stars on 52,000 ratings) and Google’s Play Store (with 4.4/5 on 58,290 ratings).

WorldRemit

With WorldRemit’s mobile apps, it’s easy to send money from your smartphone in a few taps. As well as, receive alerts with the latest exchange rates, and check the status of transfers.

As an example, Kenyan entrepreneurs and contractors selling goods and services to small and medium-sized enterprises (SMEs) in the U.K. can now receive payments faster. And in that case, more conveniently following the launch of WorldRemit for Business.

Depending on the country combination, customers can send money to;
  • bank accounts,
  • as cash to local cash pick-up agent locations
  • or as door-to-door delivery,
  • to mobile wallets (which fosters financial inclusion within the unbanked populations),
  • or as airtime top-up (a popular option for migrants to stay connected with their friends and family back home).

Pay-in methods are also highly variable but include (depending on the country) bank transfers, debit and credit cards, SOFORT, Apple and Android Pay, Poli, Interac, ACH, and Trustly.

Within the United States, it offers money transfer services from all 50 states. And according to TechCrunch, “they are currently aiming to expand further in Asia.”

Why use WorldRemit to Send Money?

WorldRemit is a low-cost alternative to traditional money transfer services. WorldRemit is on average 25% cheaper against Ria, Western Union, and Moneygram (when sending $200). Comparison based on the average cost to send using data sourced from the World Bank for Q4 2019.

And the fact that you can transfer money anywhere and at any time using its website or mobile app makes it a highly convenient service. There’s also no need to physically go to an agent location, line up, and wait.

Everything happens online, which means its fees are more affordable than with many competitors and its customers consequently save on costs. They also provide an overall positive user experience. From affordable, transparent costs to well-placed information about the security of their website.

Online Payment Methods Suitable for eCommerce Sites

The User Experience analysis also demonstrated that some customers were confused by some unclear wording in certain sections of the website.

Despite this, the main takeaway was that most users were willing to figure out WorldRemit quirks. And eventually, they were able to move forward and ultimately transfer money.

WorldRemit has a mobile-first approach, and is sometimes called the “WhatsApp of Money”. In fact, the company recently disclosed that the vast majority of its users initiated their transfer from a mobile device.

How to Send Money with WorldRemit

First of all, they make international money transfer fast, simple, and secure. And whichever method you choose, it only takes a few steps to send money online with them.

To support that, watch the video tutorial about How it works below;

But, for those with limited bundles to stream the above video below is a Step by step guide on; How to Send Money with WorldRemit;

NB; Transfer methods vary by country.
  • Choose how much you want to transfer (You’ll see their low fees and exchange rates upfront).
  • Add your recipient’s details (Or choose from a list of people you’ve sent to before).
  • Pay for your transfer
You can make your payments through:

It is important to realize, users sending funds to Kenya can easily track their transfers in real-time on the mobile money app.

And at the same time, opt-in to receive daily exchange notifications to send money at the optimal time.

Takeaway,

In other words, launched by leading digital remittances firm WorldRemit (www.worldremit.com), the new service product for business payments to Kenya enables U.K.-based SMEs to quickly pay their employees. As well as contractors in 150 countries worldwide. Including fast-growing emerging markets such as Kenya, Ghana, and South Africa.

The new service will first be available to U.K.-registered businesses. And for Kenyan entrepreneurs and contractors doing business with clients in the U.K., this service is good. For one thing, it will lead to significant time and cost savings.

Bearing in mind, traditional bank payments, can take up to a week, and often incur high fees and exchange rates. Although they are still the dominant international transfer method for businesses sending money abroad to Kenya.

In contrast, its low fees and exchange rates are shown up-front. And customers can send money easily via the app or website.

Additionally, transfers to Kenya are processed within 24 hours or less. Whereby, local business entrepreneurs ( like jmexclusives) can receive payments via bank account, mobile money, or cash pick-up—whichever method is most convenient for them.

Read also more about Best Ways to Send Money Internationally.

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