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WorldRemit expands into Russia

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WorldRemit News

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Digital money transfer service now available for Russians living abroad in over 5,000 locations

London and Moscow, 15 December 2016: Digital money transfer service WorldRemit is now available for the Russian diaspora. By partnering with the oldest Russian PaymentSystem CONTACT, WorldRemit customers can now send money to be collected as cash at any CONTACT office across Russia in euros or dollars. 

With the WorldRemit app or website, people in more than 50 countries can send instant, secure money transfers to more than 125 destinations. Known as the ‘WhatsApp of money’, WorldRemit makes sending a remittance as easy as sending an instant message.

Over 20 million Russians live in the diaspora and remittances play a significant role in Russia’s economy. According to the World Bank, Russia received $6.87bn in remittances in 2015.

Ismail Ahmed, Founder and CEO at WorldRemit, comments: “Many Russians living abroad work hard to support family members back home. Until now, they’ve had to endure the inconvenience and high fees from visiting offline money transfer agents. Now with the WorldRemit app, the Russian diaspora has a simple, convenient way to send money back to Russia.” 

Elena Gafarova, Vice-President for International Development at CONTACT system, says“Money transfers were one of the first financial services that underwent digitalisation through mobile technologies and further consolidated its presence as mobile apps as well as in social networks and messengers. CONTACT’s software was designed to be flexible in integration with advanced digital and mobile technologies like the WorldRemit app. Now, our joint service will let everyone send remittances to Russia faster, easier and with lower costs.”

For more information on how to send money to Russia, click here

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About WorldRemit

WorldRemit was founded in 2010, and serves over 4 million customers. Through our digital services customers can send 90 currencies to 150 countries, across almost 8 thousand corridors. Recipients benefit from one of the widest ranges of money-out options including bank deposit, mobile money, and cash pickup. Our investors include Accel, TCV and Leapfrog. Accel and TCV are long-term investors in well-known brands including AirBnB, Facebook, Spotify and Expedia.

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62 Buckingham Gate, London, SW1E 6AJ, United Kingdom. Company registration number: 07110878
WorldRemit Ltd is Authorised and Regulated by the Financial Conduct Authority (FCA) under the Payment Service Regulations 2017 and Electronic Money Regulations 2011. Registration number: 900891.