WorldRemit and the Bank of Ceylon offer new cash pickup locations to support remittance growth in Sri lanka
New service will enable Sri Lankan diaspora to send remittances to over 500 cash pickup locations across the country
The Bank of Ceylon has the largest banking network in Sri Lanka, with 627 branches across all 25 of the country’s districts.This new service will enable the Sri Lankan diaspora living and working in over 50 countries to send remittances as easily as sending an instant message, using the app or website to any Bank of Ceylon cash pickup location across the country.
WorldRemit’s mobile-first, digital model allows hard working migrants to send money in a few taps directly from their phones - without the need to visit or stand in line at a bricks and mortar agent.
Roughly nine per cent of Sri Lanka’s population work and live abroad, with top migration destinations including India, Australia and the United Kingdom. Remittances play an important role in the country’s economy, and the World Bank estimates that in 2015 over $7.2 billion dollars was received and this is expected to rise in 2017.
Ismail Ahmed, founder and CEO at WorldRemit, comments: “Many households in Sri Lanka depend on receiving remittances from their family members working abroad to support them in their daily lives. These remittances also have a vital impact on the wider national economy, and for communities across the country.”
“This new partnership with the Bank of Ceylon will extend our footprint in Sri Lanka, helping even more people make secure, instant money transfers.”
In June, WorldRemit announced a global integration with Google’s Android Pay, followed by a partnership with Huawei’s mobile money platform across Africa. WorldRemit customers now complete 750,000 transfers every month from over 50 send countries to more than 140 receiving destinations.
For more information on how to send money to Sri Lanka, please click here