TANZANIANS living in the Diaspora have hit a milestone of 10,000 unique monthly transactions using WorldRemit, a digital money transfer service.
In an exclusive communication via email, the WorldRemit founder and Chief Executive Officer, Mr Ismail Ahmed said that there has been a 150 per cent year on year growth in Tanzania last year, driven primarily by the rapid expansion of mobile money accounts as the preferred receive method.
“Our Mobile Money partnerships combined with existing services for bank deposits and cash pick-up will give more choice to Tanzanians, further supporting the transition from costly offline remittances via high street agents to faster, cheaper and safer online transfer methods," Mr Ahmed said.
Remittances play an important role in the economy of Tanzania where in 2015 the country received a total of 390 million US dollars according to the World Bank, almost ten times the amount received in 2010.
WorldRemit customers can send money to Tanzania via Mobile Money to TigoPesa, Vodacom M-Pesa and Zantel EzyPesa Mobile Money accounts, as well as bank deposit and cash pick up.
The money transfer service early this week added Android Pay to its service, offering a new way for WorldRemit’s Android Pay users to send money internationally and reach millions using mobile money accounts.
Pioneering a mobile-first approach to the $600bn a year remittance industry, the move sees WorldRemit bringing together the leading players in mobile payments from Silicon Valley and Sub-Saharan Africa.
Launching the global rollout of the service at MoneyConf 2017, WorldRemit will enable Android Pay users to safely and securely send money to +112 million mobile money accounts accessible via its network.
The integration will make WorldRemit the only remittance provider offering international payments through Android Pay around the globe. By connecting directly with Android Pay, WorldRemit customers can transfer money instantly across continents in just five taps - without entering credit card or 3DS details.