WorldRemit lets users in 50 countries send money, and people in 117 countries receive it, giving senders the option to pay into bank accounts, cash pick-up points, or into mobile wallets that can be used for airtime top-ups. Airtime top-ups are especially popular: they currently account for half of all of WorldRemit’s business in Africa.
The last of these — mobile wallets — looks like it will be WorldRemit’s growth engine in future years, through partnerships with telecoms carriers. Carriers play a role in offering mobile wallets to mobile phone users who may not have regular bank accounts. One recent deal, with African carrier MTN, covers 22.5 million users in 16 countries across the continent.
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