The leading digital money transfer service WorldRemit is boosting it’s activities by increasing it’s partner network and diversifying it’s service in Ethiopia.
Transactions to Ethiopia via WorldRemit grew by over 130% in 2018, driven by the rapid expansion of its partner network.
Currently customers around more than 50 countries can send money to Ethiopia Via Bank transfer and Cash pickup service. It will take 1-2 days to arrive visa Bank transfer and cash pick up is instant. All most all bank works with World Merit to avail the above services. Airtime pope up is also possible to any phone in Ethiotelcom network.
In the latest, World Remit has partnered with , Commercial Bank of Ethiopia (CBE), to launch its first ever international mobile money transfer service to Ethiopia.
The new service significantly increases WorldRemit’s footprint in Ethiopia, enabling its customers in over 50 countries to make mobile money transfers to over 1.2 million CBE Birr wallets as well as any mobile phone number in the country. Customers can also transfer money quickly and securely to over 20 million CBE bank accounts and 1,300 new cash pickup locations.
CBE President, Bacha Gina, said:
“We are proud to be a pioneering bank in modernizing Ethiopia’s payment systems. The various e-payment facilities deployed have enabled us to become the number one provider of technology-based banking services.”
Commercial Bank of Ethiopia is the oldest and largest bank in Ethiopia, serving over 20 million account holders. The bank shares WorldRemit’s commitment to increasing convenience for customers through digital solutions, offering comprehensive online and mobile banking services.
Head of East and Central Africa at WorldRemit, Sharon Kinyanjui, commented:
“We are delighted to partner with CBE, the leading bank in Ethiopia, to launch our first mobile money service to the country and expand our network of bank accounts and cash pickup locations.
The new international mobile money transfer service offered by CBE and WorldRemit offers the diaspora a low-cost and secure way to send money home directly to any mobile phone in Ethiopia.
Customers who are already registered with a CBE Birr mobile money account will receive their funds within one working day
With more than 3.5 million as of October 2018, World Remit, was Founded in back 2010 by venture capitalists, including a Somali – British entrepreneur Ismail Ahmed.
WorldRemit Ltd. a U.K. registered company that know to specializes in money transfers into Africa, also plans a new funding round in the next six months ahead of a potential initial public offering or buyout.
In related news, World Remit announced outbound remittances from South Africa. So farIt was only possible receive money from abroad to South African but not send.
This is will give more than 200 thousands Ethiopians in SA a faster and cheaper remittance service.