WorldRemit, a London-based online money transfer service, has launched its remittance service to Vietnam. The service will allow customers to transfer money from the WorldRemit app to any bank account in Vietnam.
WorldRemit enables people to transfer money overseas using its iOS and Android mobile apps. Currently, the company enables more than 300,000 transactions per month.
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WorldRemit CEO & founder Ismail Ahmed said: "Remittances help Vietnamese all over the world connect with their friends and family abroad.
"Up until now, most Vietnamese have had to queue at high-street money transfer agents and incur high fees to send money home. With the WorldRemit app, people all over the world can send money to Vietnam with just a few taps on their smartphone."
According to data from the World Bank, Vietnamese abroad sent home $12bn in remittances in 2014.
In February 2015, WorldRemit raised $100m in a funding round led by Technology Crossover Ventures (TCV).
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