WorldRemit launches new prices for transfers to Africa

WorldRemit, a leading global digital payments company, has announced the launch of its new prices for international transfers in over 450 of its larger corridors. The new lowered prices, allows customers to send more to family and friends via the mobile app or website to the various African corridors.

This price drop represents the largest pricing reduction in terms of the number of corridors for the business. The new prices are in line with WorldRemit’s commitment to supporting remittance flows across Africa and helping the diaspora community to supplement and support family and friends back home.

Diaspora remittances to Sub-Saharan Africa in 2019 totalled $48 billion according to the World Bank. Through its innovative service offering, WorldRemit customers have been able to support family and friends with essentials, medical and educational needs.

Speaking on this announcement, Gbenga Okejimi, Country Manager, Nigeria and Ghana, WorldRemit said: “As a forward-thinking company, WorldRemit continues to seek opportunities and innovative ways to keep people connected around the world while offering them a top-class fast, safe and simple way to send international remittances.

We believe in helping our customers to access and enjoy the rewards of their hard work and this initiative will ensure they are able to access value even as COVID-19 has financially affected those in both in the diaspora and at home”.

Sam Talukdar, Director of Pricing at WorldRemit said: “One of our goals is to accelerate financial inclusion by reducing transaction costs to Sub-Saharan Africa, which remains the most expensive region for remittances.

In the last 12 months, we have witnessed a strong uptick in new customers using our platform, which in turn has helped to drive down our overall costs. We are committed to making remittances more affordable, so we have shared our savings with our customers, allowing them to send more money for less.”

The global payments company enables senders in 50 countries to send money via the app or website to recipients in over 150 countries, where they can choose from multiple payout methods including bank deposits, Mobile Money, mobile airtime top-up, and cash pick-up.

To access the new prices, customers will need to visit the website www.worldremit.com or download the WorldRemit app from Google Play or the App Store and use the transfer calculator to see how much can be saved.

Existing customers will need to update the latest version of the app to benefit from the new prices. Customers will instantly benefit from the savings directly or can choose to include the savings in the funds of their loved ones.