NIC Bank partners with WorldRemit for digital money transfers to Kenya

WorldRemit customers living in over 50 countries can now send money quickly and securely to 130,000 NIC Bank Retail accounts and several new cash pickup locations

Nairobi and London, 21 January 2019: Leading digital money transfer service WorldRemit has joined forces with NIC Bank for digital money transfers to Kenya.

Kenyans living in over 50 countries, including the United Kingdom, the United States and Canada, can now send money directly from their phones to 130,000 NIC Bank Retail accounts and over 40 new cash pickup locations at NIC branches across Kenya.

Kenya is WorldRemit’s fourth largest recipient of international money transfers globally and third largest in Africa. Transactions to the country grew by over 40% in 2018 and top send countries include the UK, Australia and the USA.

NIC Bank is a leading financial services company with a presence in Kenya, Uganda and Tanzania. It is a market leader in diaspora banking services offering bank accounts, competitive forex rates, advisory and investment options such as securities, mortgages and personal loans.

The Central Bank of Kenya (CBK) estimates that remittances hit an all-time high of Sh197.12 billion ($1.95 billion) in 2017 - a 13 percent growth on the previous year.

Sharon Kinyanjui, Head of East and Central Africa at WorldRemit, comments: “We are delighted to partner with NIC Bank, a leading bank with strong ties to the Kenyan diaspora.

“Our partnership connects us to over 130,000 NIC Bank accounts and several new cash pickup locations across Kenya. From sending money to loved ones to making investments back home, the new service will enable 3 million Kenyans living in over 50 countries to contribute to Kenya’s bright future.”

NIC’s Group Managing Director, John Gachora said the partnership with WorldRemit will strategically position the Bank’s diaspora product offering: “At NIC Bank we are investing significantly in our digital capabilities to deliver value to our customers and make banking easier and convenient. The partnership with WorldRemit is set to cash in on the growing demand for instant, digital remittances among our customers and provides the diaspora with a convenient, efficient and affordable means of sending money back home to their loved ones.

“WorldRemit allows you to transfer money from your bank account using a credit or debit card. The funds can be deposited into your recipient’s bank account or made available for collection from an agent location.”

WorldRemit customers complete over 1 million transfers every month from over 50 countries to over 145 destinations. More than half of its transfers go to Africa.

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About WorldRemit

We are a leading global payments company and, along with Sendwave, part of Zepz, a group powering two global remittance brands. 

We disrupted an industry previously dominated by offline legacy players by taking international money transfers online – making them safer, faster and lower cost. We currently operate in more than 5,000 money transfer corridors worldwide and as part of Zepz, are part of a 1,400 person global workforce.

Sending money with WorldRemit is 100% digital (cashless), increasing convenience and enhancing security. For those receiving money, we offer a wide range of options, including bank transfer, cash pickup, airtime top up and mobile money. 

Backed by Accel, TCV and Leapfrog – WorldRemit’s headquarters are in London, United Kingdom, with regional offices in the United States, Poland, Canada, Australia, Hong Kong, Singapore, Malaysia, the Philippines, South Africa, Somaliland, Uganda, Kenya, Rwanda, Tanzania, Zimbabwe and Belgium.

About Zepz

Zepz Group is the group powering leading global remittance brands: WorldRemit and Sendwave. Since 2021, Zepz Group has been disrupting an industry previously dominated by offline legacy players by reducing the barriers to finance and increasing safety and convenience for users. Every day, Zepz Group and its brands work towards unlocking the prosperity of cross-border communities through finance and technology - driven by the vision of a world that celebrates migrants’ impact on prosperity, at home and abroad.

Zepz Group brands have helped cross-border communities send over $15bn from 50 countries, to recipients in 130 countries in 2022, and operate over 5,000 money transfer corridors worldwide. Zepz Group employs over 1,400 people globally as a remote-first employer, with team members located across six continents.