Digital money transfer company WorldRemit has launched a new service dubbed WorldRemit for Business that enables small and medium-sized (SMEs) enterprises to offer fast payments to employees and contractors in 140 countries in the world including Kenya.
Initially, the cash transfer company only allowed transfers between individuals but with the introduction of the new service, businesses sending funds abroad can easily track their transfers in real-time. They will similarly receive daily exchange notifications that remind them to send money to employees abroad which will mitigate the occurrence of delayed payments.
SMEs can access the new service by using WorldRemit’s website and app. Transfers to Kenya, as stated by the firm, will be processed within a day with recipients having the option to have the cash wired into their bank accounts via mobile money or cash pickup.
According to Ismail Ahmed, the Founder of WorldRemit, the business payment mode will save businesses time and money when they make international payments.
“When I first started WorldRemit, I was frustrated with the high charges and long delays in sending money abroad both as a business owner and consumer. Over the past nine years, we’ve made it easier for four million people around the globe to send and receive money,” Mr. Ahmed said during the launch of the programme.
Today, we’re pleased to extend that service offering to businesses, and put an end to the steep fees that many businesses have to pay. We’re committed to making it quick, safe and easy for you to pay individuals across borders, leaving you to focus on growing your own business,” Mr. Ahmed added.
Ever since it was founded in 2010, WorldRemit customers have completed over 1.4 million transfers every month from over 50 countries to approximately 140 destinations using its app and website.
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