WorldRemit and Dutch-Bangla Bank’s ‘Rocket’ enable remittances to mobile money accounts
Bangladeshis in over 50 countries can now send money to over 11 million Rocket mobile money accounts
Dhaka and London, 31 October 2017: Leading digital money transfer company WorldRemit and Dutch-Bangla Bank have joined forces to launch instant money transfers to Rocket mobile money accounts in Bangladesh.
The new service lets Bangladeshis in over 50 countries send remittances to more than 11 million mobile money accounts in Bangladesh, as easily as sending an instant message using the WorldRemit app or website.
Dutch-Bangla, one of the country's most innovative and technologically advanced banks, has helped to pioneer mobile banking in Bangladesh. Rocket operates in the same way as other mobile money services across the country, but with the additional benefit of being able to top up from a standard bank account.
WorldRemit is the global leader in fast, secure remittances to mobile money accounts. The company accounts for 74% of all remittances sent through international money transfer operators to mobile money services. Its mobile-first, digital model on the send side 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.
According to central bank data, the number of registered mobile money accounts in Bangladesh stood at 53.7 million by the end of June, with Dutch-Bangla Bank’s mobile money Rocket service one of the major service providers.
Bangladesh has a large diaspora, spread across the world, with sizeable communities in countries like Kuwait, Oman and Qatar. Remittances play an important role in the country’s economy, with the World Bank estimating that in 2015 over $15.7 billion dollars were sent to Bangladesh.
Ismail Ahmed, founder and CEO at WorldRemit, comments: “Dutch-Bangla Bank is a forward-thinking, innovative bank. We have a shared vision, believing that instant, secure remittances to mobile money accounts gives greater choice to the diaspora, as well as those receiving the funds in Bangladesh.”
In June, WorldRemit announced a global integration with Google’s Android Pay, followed by a partnership with Huawei’s mobile money platform across Africa.
Globally, WorldRemit customers now complete 750,000 transfers every month from over 50 send countries to 148 receiving destinations. Since launching its operations in Bangladesh, WorldRemit customers have completed over 180,000 money transfers via the WorldRemit app or website.