No need to present WorldRemit, the English instant & worldwide money transfer service and Western Union & MoneyGram main competitor. Its specificities: to provide its service online (through a computer, a tablet or a smartphone) for a low cost.
Partnering with Alphabet Inc. (Google), the startup wants its users to be able to send money through Android Pay (112m of accounts) and will become the 1st provider of this kind of service on mobile phone. In other terms, WorldRemit plans to conquer the African market in which $600b are exchanged every year.
Benefits for the user: lower fees amount (between 5% & 6% while the competitor ones are between 7% & 10%) + money withdrawal capabilities or Mobile Money account provisioning.
Detected via La Tribune