View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
  2. Company news
September 24, 2015updated 04 Apr 2017 4:01pm

WorldRemit launches remittance services to Pakistan

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.

By Verdict Staff

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%.

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).

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International