You can use WP menu builder to build menus
Go to...
    Technext Technext
    • Home
    • News
      • Global Tech Roundup: Nestle, Disney and Others Suspend Youtube Ads, Rural Villages in China to Go Cashless by 2020
        Global Tech Roundup: Nestle, Disney and Others Suspend Youtube Ads, Rural Villages in China to Go Cashless by 2020
        February 22, 2019 0
        22
      • Samsung Unveils Galaxy Fold, Marek Zmyslowski and other news that Hit Social Media this Week
        Samsung Unveils Galaxy Fold, Marek Zmyslowski and other news that Hit Social Media this Week
        February 22, 2019 0
        23
      • Self-taught Nigerian Developers Are The Third Biggest Users of FreeCodeCamp
        Self-taught Nigerian Developers Are The Third Biggest Users of FreeCodeCamp
        February 22, 2019 0
        53
      • Samsung Galaxy Fold: Why Are Smartphone Producers Going Crazy Over Foldable Phones?
        Samsung Galaxy Fold: Why Are Smartphone Producers Going Crazy Over Foldable Phones?
        February 22, 2019 0
        34
      • Edupoint, SonoCare and 8 Others to Compete at MEST Africa Challenge Regional Finals
        Edupoint, SonoCare and 8 Others to Compete at MEST Africa Challenge Regional Finals
        February 22, 2019 0
        37
      • Twitter is Currently Working On a Solution That Makes It Easy to Follow Conversations
        Twitter is Currently Working On a Solution That Makes It Easy to Follow Conversations
        February 21, 2019 0
        43
      • Gartner Data: Why is There a Huge Decline in Apple and Samsung Smartphone Sales?
        Gartner Data: Why is There a Huge Decline in Apple and Samsung Smartphone Sales?
        February 21, 2019 0
        40
      • Samsung Unveils Galaxy Fold, S10, S10E, and S10+ at S Series 10th Anniversary
        Samsung Unveils Galaxy Fold, S10, S10E, and S10+ at S Series 10th Anniversary
        February 21, 2019 0
        47
      • Nigerian e-Commerce Giant, Konga May List on Either the London or New York Stock Exchange by 2020
        Nigerian e-Commerce Giant, Konga May List on Either the London or New York Stock Exchange by 2020
        February 20, 2019 0
        74
    • Reviews
      • Global Tech Roundup: Nestle, Disney and Others Suspend Youtube Ads, Rural Villages in China to Go Cashless by 2020
        Global Tech Roundup: Nestle, Disney and Others Suspend Youtube Ads, Rural Villages in China to Go Cashless by 2020
        February 22, 2019 0
        22
      • Samsung Unveils Galaxy Fold, Marek Zmyslowski and other news that Hit Social Media this Week
        Samsung Unveils Galaxy Fold, Marek Zmyslowski and other news that Hit Social Media this Week
        February 22, 2019 0
        23
      • Samsung Unveils Galaxy Fold, S10, S10E, and S10+ at S Series 10th Anniversary
        Samsung Unveils Galaxy Fold, S10, S10E, and S10+ at S Series 10th Anniversary
        February 21, 2019 0
        47
      • Ride Hailing App, Uru Allows you Share a Ride With Others
        Ride Hailing App, Uru Allows you Share a Ride With Others
        February 20, 2019 0
        66
      • nTel Entered the Nigerian Market with a Bang, but what is the Current State of the Telecom Company?
        nTel Entered the Nigerian Market with a Bang, but what is the Current State of the Telecom Company?
        February 20, 2019 0
        75
      • Global Tech Roundup: General Motors Produces First Ever eBike, Google Play Store Records 55% increase in Rejected Apps
        Global Tech Roundup: General Motors Produces First Ever eBike, Google Play Store Records 55% increase in Rejected Apps
        February 15, 2019 0
        89
      • Social Media Trends: Buhari, Atiku Sign Peace Accord, Manchester United Fans Trolled After Losing 0-2 to PSG
        Social Media Trends: Buhari, Atiku Sign Peace Accord, Manchester United Fans Trolled After Losing 0-2 to PSG
        February 15, 2019 0
        62
    • Features
      • Full Story of How Marek Zmyslowski Allegedly Defrauded His Nigerian Investors and Fled to Poland
        Full Story of How Marek Zmyslowski Allegedly Defrauded His Nigerian Investors and Fled to Poland
        February 19, 2019 0
        123
      • The Workplace of the Future and an Emergence of a New Culture by Austin Okere
        The Workplace of the Future and an Emergence of a New Culture by Austin Okere
        February 14, 2019 0
        95
      • #NextLevel: Buhari’s Policy Document Shows that the Nigerian President Does Not Take Tech Seriously
        #NextLevel: Buhari’s Policy Document Shows that the Nigerian President Does Not Take Tech Seriously
        February 13, 2019 2
        147
      • 7 Awesome Ways Tech Can Help Singles Have Fun on Valentine’s Day
        7 Awesome Ways Tech Can Help Singles Have Fun on Valentine’s Day
        February 13, 2019 0
        117
      • The Impact of Data, Laravel Nigeria Meetup, GBA Lagos Meetup and Other Tech Events this Week
        The Impact of Data, Laravel Nigeria Meetup, GBA Lagos Meetup and Other Tech Events this Week
        January 28, 2019 0
        187
      • MTN CEO, Rob Shuter Says that MTN Nigeria Will list on the Nigerian Stock Exchange Before the End of this Year
        MTN CEO, Rob Shuter Says that MTN Nigeria Will list on the Nigerian Stock Exchange Before the End of this Year
        January 25, 2019 0
        216
      • Entrepreneur Checklist: 3 Simple Yet Effective Checks to Consider Throughout the Year
        Entrepreneur Checklist: 3 Simple Yet Effective Checks to Consider Throughout the Year
        January 25, 2019 0
        164
    • Contact Us
    Go to...
      Home»News » WorldRemit Launches Digital Money Transfer Services within Africa

      WorldRemit Launches Digital Money Transfer Services within Africa

      Oluwadamilare AkinpeluOluwadamilare Akinpelu
      September 13, 2018
      0 Comments
      6
      WorldRemit Launches Digital Money Transfer Services within Africa

      Digital money transfer company, WorldRemit, has launched a new digital service within Africa to make it easier to send and receive money digitally across the continent.

      (WorldRemit introduces inter-Africa digital money transfer service) https://t.co/bG4Gc5LzQX pic.twitter.com/ZcsHetCJsK

      — African Leadership (@AfricanLM) September 4, 2018

      This new digital service is expected to curtail the high cost of transferring money across borders in Africa – which is the major obstacle facing electronic payment systems in Africa, by introducing a quick, secure and lower-cost payment system.

      In turn, providing small and medium-sized businesses an alternative to the expensive traditional money transfer systems.

      [VIDEO] Global Money Transfer Company, WorldRemit, Introduces New Digital Service in East Africa: https://t.co/VrZPdTmQHa via @BitcoinKE @WorldRemit @SeamlessEA #SeamlessEA

      — Bitcoin Kenya (@BitcoinKE) September 6, 2018

      Speaking on the service introduction, Ismail Ahmed, the CEO and Co-founder of WorldRemit says:

      Just as WorldRemit has revolutionised the way people send money from developed countries (such as the United States, the United Kingdom and Canada), our vision is to do the same within Africa.  From the frequent traveller, who works in different countries, to the small business owner buying goods abroad, our new fast service will offer the benefits of lower cost and greater convenience.

      How Would this Impact the Payment and Transfer Scene in Africa?

      Sending money digitally within Africa can very worrisome for the individuals and businesses considering the expensive charges they have to pay to large electronic money issuers (such as Western Union, Moneygram, and Ria)  to facilitate these transfers, but with cheap and easy payment systems such as WorldRemit, the financial lives of millions of Africans would be changed.

      When digital payments take hold, it would encourage financial inclusion amongst underserved and unbanked individuals and businesses in areas where traditional banks cannot get to (and people who can’t afford the expensive charges) as they would be able to perform these transactions from their mobile phones.

      Digital #payments' $1.4 trillion #cash challenge in the Middle East & Africa: https://t.co/3s7kXGj0Su #GlobalCashIndex @Cardtronics pic.twitter.com/dNh8Kym9xn

      — PYMNTS (@pymnts) September 11, 2018

      It would also save businesses bearing the high cost of cash payments — costs associated with manual acceptance, record keeping, counting, storage, security, and transportation as there would not be a need for this nor expensive physical infrastructures.

      Having carried out more than  $1.6 billion at an annualized rate to Africa with its transfers to Africa growing by 80% year-on-year, WorldRemit is targeting Kenya, Rwanda, Tanzania and Uganda for the roll-out of this latest innovation. Other locations will come later.


      If you’d like to get featured on our Entrepreneur Spotlight, click here to share your startup story with us.


      SUBSCRIBE

      Get latest Technology news, reviews, business-related content with a deliberate emphasis on the African narrative and insightful analysis in Nigeria – straight to your inbox.


      Comments

      Share :
      • Facebook
      • Twitter
      • Google+
      • Pinterest
      • Linkedin
      • Email
      Oluwadamilare Akinpelu

      Oluwadamilare Akinpelu

      Oluwadamilare Akinpelu is a lover of the Tech World. He is a calm person and also a protean writer.

      Meet Mohini Ufeli, the New Media Manager of Paystack
      Next article
      Meet Mohini Ufeli, the New Media Manager of Paystack
      Again, SEC Plans to Regulate the FinTech Industry. How will this Pan Out?
      Previous article
      Again, SEC Plans to Regulate the FinTech Industry. How will this Pan Out?

      Related Posts

      • News, Reviews February 22, 2019

        Global Tech Roundup: Nestle, Disney and Others Suspend Youtube Ads, Rural Villages in China to Go Cashless by 2020

        Global Tech Roundup: Nestle, Disney and Others Suspend Youtube Ads, Rural Villages in China to Go Cashless by 2020
        News, Reviews February 22, 2019

        Samsung Unveils Galaxy Fold, Marek Zmyslowski and other news that Hit Social Media this Week

        Samsung Unveils Galaxy Fold, Marek Zmyslowski and other news that Hit Social Media this Week
        News February 22, 2019

        Self-taught Nigerian Developers Are The Third Biggest Users of FreeCodeCamp

        Self-taught Nigerian Developers Are The Third Biggest Users of FreeCodeCamp
      • News February 22, 2019

        Samsung Galaxy Fold: Why Are Smartphone Producers Going Crazy Over Foldable Phones?

        Samsung Galaxy Fold: Why Are Smartphone Producers Going Crazy Over Foldable Phones?
        News February 22, 2019

        Edupoint, SonoCare and 8 Others to Compete at MEST Africa Challenge Regional Finals

        Edupoint, SonoCare and 8 Others to Compete at MEST Africa Challenge Regional Finals
        News February 21, 2019

        Twitter is Currently Working On a Solution That Makes It Easy to Follow Conversations

        Twitter is Currently Working On a Solution That Makes It Easy to Follow Conversations

      Search This Site

      Click Here: Bitcoin Recent Prices

      Follow Us

      • 5056 Fans
      • 1868 Followers
      • 0 Followers

      Sign up for Newsletters

      Popular News

      • Global Tech Roundup: Nestle, Disney and Others Suspend Youtube Ads, Rural Villages in China to Go Cashless by 2020
        Global Tech Roundup: Nestle, Disney and Others Suspend Youtube Ads, Rural Villages in China to Go Cashless by 2020
        February 22, 2019 0
      • Samsung Unveils Galaxy Fold, Marek Zmyslowski and other news that Hit Social Media this Week
        Samsung Unveils Galaxy Fold, Marek Zmyslowski and other news that Hit Social Media this Week
        February 22, 2019 0
      • Self-taught Nigerian Developers Are The Third Biggest Users of FreeCodeCamp
        Self-taught Nigerian Developers Are The Third Biggest Users of FreeCodeCamp
        February 22, 2019 0
      • Samsung Galaxy Fold: Why Are Smartphone Producers Going Crazy Over Foldable Phones?
        Samsung Galaxy Fold: Why Are Smartphone Producers Going Crazy Over Foldable Phones?
        February 22, 2019 0
      • Edupoint, SonoCare and 8 Others to Compete at MEST Africa Challenge Regional Finals
        Edupoint, SonoCare and 8 Others to Compete at MEST Africa Challenge Regional Finals
        February 22, 2019 0

      Latest Tweets

      • technextdotng New post: Global Tech Roundup: Nestle, Disney and Others Suspend Youtube Ads, Rural Villages in China to Go Cashless by 2020 ...
        about 6 hours ago
      • technextdotng New post: Samsung Unveils Galaxy Fold, Marek Zmyslowski and other news that Hit Social Media this Week https://t.co/8IkTfXRuCa
        about 7 hours ago
      • technextdotng Startup incubator, @MESTAfrica has revealed the regional finalists for its #MESTAfricaChallenge. The 10 finalists… https://t.co/VSYOvxgkuu
        about 9 hours ago
      • technextdotng RT @ashe_AE: @marekchinedu @technextdotng To think I had great respect for this guy after his ''Africa, stupid!'' Tedx piece. Disparaging a…
        about 10 hours ago

      Instagram

      Load More...Follow on Instagram

      Random News

      • Blockchain, Fintech and the Future of Banking by Austin Okere
        Blockchain, Fintech and the Future of Banking by Austin Okere
        July 13, 2018 0

        Even though cryptocurrencies such as bitcoin tend to steal the limelight, it is their underlying blockchain technology that is proving ...

        Read More
      Copyright 2019 technext.ng