- WorldRemit customers can now get updates about their recent transactions through messaging app WhatsApp
- The remittance service is the first UK-based fintech to integrate WhatsApp notifications
- The remittance market is worth $600 billion, according to reports
UK-based fintech WorldRemit just found a way to update customers about their remittance transactions. The leading cross-border payments app integrated WhatsApp messaging to its service, according to reports and the new development will make it possible for the brand to send instant notifications to their customers. While major currency transfer brands such as Western Union send text updates to senders, SMS delivery is still unreliable in many markets. Fintech observers say that the integration of WhatsApp notifications is a good move for WorldRemit as the messaging app is known for its reliability.
Changing the way migrants send money
The money transfer brand is the very first British remittance fintech to utilise WhatsApp’s business solution, a move that further cements the brand’s mobile-first approach. Although WorldRemit is a newcomer in the currency transfer industry, it has already disrupted the $600 billion remittance market. The new development supports the brand’s goal to serve 10 million customers by the year 2020.
The Chief Product Officer at WorldRemit Alice Newton-Rex told reporters that the brand is “delighted to add the WhatsApp business solution” to WorldRemit’s platform as it will make it “more convenient for millions of WorldRemit customers around the world”. The remittance service makes it possible for migrants around the world to send money to loved ones from their smartphones. According to their website, the cross-border payments solution is available in over 145 countries. Data shows that WorldRemit clients make an estimated 1.2 million transactions per month.
Sending money through WorldRemit guarantees instant fund transfers and recipients can choose a number of ways to receive those funds. According to WorldRemit representatives, the brand makes it possible for remittance recipients to access their funds through bank transfer, mobile money, cash pick-up, and mobile airtime top-up.
Get more information about cross-border payments here.
