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June 14, 2019

WorldRemit unveils new business payments service

Digital money transfer firm WorldRemit has rolled out a new service that will allow SMBs to pay employees and contractors quickly.

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Through the new offering, dubbed WorldRemit for Business, SMBs can make fund transfers to 140 countries.

Among these countries are Ghana, Kenya, and South Africa.

Initially, the service will be accessible to businesses in the UK.

In this context, WorldRemit cited the Global Trade Review.

According to the Review, 30% of UK business trade internationally though transfer speed and expense remain a frustration.

The frustration is said to be more pronounced while making remittances to places like Africa and Southeast Asia where transfer options are limited.

WorldRemit founder and chairman Ismail Ahmed said: “When I first started WorldRemit, I was frustrated with the high charges and long delays in sending money abroad both as a business owner and consumer. Over the past 9 years, we’ve made it easier for 4 million people around the globe to send and receive money.

“Today, we’re pleased to extend that service offering to businesses, and put an end to the steep fees that many pay, especially when sending to Africa.

“We’re committed to making it quick, safe and easy for you to pay individuals across borders, leaving you to focus on growing your own business.”

The development comes shortly after WorldRemit’s Series D funding round that raised $175m.

The round was led by TCV, Accel and Leapfrog Investments.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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