Cash crisis leads to 20% surge in WorldRemit’s guaranteed cash pickup service in Zimbabwe
The company is making it easier to collect cash by creating the widest network of cash pickup locations in Zimbabwe
London, 25 October 2018: WorldRemit, a leading online international money transfer company, has seen a 20% increase in transactions to cash pick up locations in Zimbabwe in the first two weeks of October (compared to the same period in September). This recent surge follows consistent growth in transactions sent to cash pickup locations over the last year, since WorldRemit stepped in to bring USD in cash into Zimbabwe. In November last year, WorldRemit began working with partners such as Steward Bank to guarantee cash for recipients of transfers sent for cash pickup through WorldRemit.
Building on this foundation, to make it easier for recipients of money transfers sent through WorldRemit to collect cash, the company has significantly increased its cash pick up network in Zimbabwe and now boasts the widest network of cash pickup locations in the country.
Over the last 6 months, WorldRemit has added 10 new cash pickup partners to its global network providing an additional 150 new locations where recipients of remittances can collect cash in USD - with payments paid out in full.
The network expansion means that WorldRemit offers cash at over 200 locations - more than any other remittance service. Guaranteed cash is available at Steward Bank, Kaah Express,Quest Financial Services, and ZB Bank.
Pardon Mujakachi, Country Director for Zimbabwe said: “We know that our customers around the world are deeply concerned about how the cash crisis in Zimbabwe is affecting their family and friends back home. To take some of these worries away, we notify our customers when their recipient has collected the cash so they can be confident they have received all the money sent.”
Because both senders and recipients receive notifications with details of how much money has been sent, WorldRemit offers complete transparency.
“More people are seeing the benefits of sending with us and the number of customers sending to our cash pickup partners has more than doubled in the last year and we’re still seeing strong growth. Recommendations have been crucial to our growth, so we are also rewarding existing customers who recommend our service with the opportunity to earn $20 for both themselves and the friend they have introduced to the service.” added Mujakachi.
By helping dollars get into the country WorldRemit hopes to keep trade flowing and businesses afloat - keeping that money in circulation within Zimbabwe.