WorldRemit, a London-based online money transfer service, has launched its remittance service to Pakistan to allow customers in 52 countries to transfer money from the WorldRemit app to all bank accounts in Pakistan.
According to the State Bank of Pakistan, Pakistanis living abroad sent remittances amounting to $13.3bn in first three quarters of 2014-2015, a year on year increase of 15%.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The Pakistan service was launched in the middle of the Eid ul Adha festival, when remittances to the country traditionally surge.
WorldRemit senior mobile analyst Alix Murphy said: "Using the WorldRemit app, Pakistanis abroad can now send money home just like an instant message."
In February 2015, WorldRemit raised $100m in a funding round led by Technology Crossover Ventures (TCV).
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
