WorldRemit announces global remittance partnership with Alipay
London, 23 January 2020 - WorldRemit has announced a partnership with Alipay, the world's leading payment and lifestyle platform, enabling consumers to use the WorldRemit app or website for cross-border remittances to the Alipay app, bringing more convenient and inclusive transfer services to users around the world.
“Our vision is to build a mobile-first, international payments service and we’re excited to work with Alipay as a partner,” said Tamer El-Emary, Chief Commercial Officer, WorldRemit. “The partnership will focus on innovation, customer experience and speed to market.”
In many markets around the world, the vast majority of remittances are still being sent ‘offline’. Money is taken to, and collected from a physical agent, and usually subject to high transfer fees.
With WorldRemit’s mobile first approach to digitising remittances, the collaboration between Alipay and WorldRemit will help make remittance services more convenient and affordable, especially for migrant workers globally.
The digital service will provide senders and recipients a fast, secure, and convenient way to transfer money whilst reducing the high associated costs.
The partnership with WorldRemit marks a further step in Alipay’s efforts to harness the power of digital and mobile technology, to make financial services more inclusive and affordable, especially for underserved and underbanked individuals worldwide.
“We look forward to working with WorldRemit to build a remittance service that is fast, secure, and cost effective,” said Ma Zhiguo, Alipay’s head of global remittances. “The unique mobile to mobile payment experience that this partnership delivers allows us to provide a convenient money transfer service to Alipay customers.”
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WorldRemit has disrupted an industry previously dominated by offline legacy players by taking international money transfers online - making them safer, faster and lower-cost. We currently send from 50 to 150 countries, operate in 6,500 money transfer corridors worldwide and employ over 800 people worldwide.
On the sending side WorldRemit is 100% digital (cashless), increasing convenience and enhancing security. For those receiving money, the company offers a wide range of options including bank deposit, cash collection, mobile airtime top-up and mobile money.
Backed by Accel, TCV and Leapfrog – WorldRemit’s headquarters are in London, UK with a global presence including in the United States, Canada, South Africa, Japan, Singapore, the Philippines, Australia and New Zealand