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WorldRemit expands into Russia

15/12/2016 | 3 minute read

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

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.

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