• Tuesday, March 19, 2024
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WorldRemit unveils new product for business payments to Nigeria

World Remit unveils new product for business payments to Nigeria

Leading digital money transfer company, world Remit, has launched WorldRemit for Business; this is a new service that enables small and medium-sized business owners to quickly pay employees and contractors in 140 countries worldwide, including fast-growing markets such as
Nigeria, Ghana, Kenya, and South Africa.

WorldRemit’s low fees and exchange rates are shown upfront and customers can send money easily via the company’s website and app. By extending its money transfer service to SMEs, World Remit will save businesses time and money when they make international payments.

Every year, the UK imports $2 billion (N720 billion) in goods and services from Nigeria, where SMEs account for 96 percent of businesses and 84 percent of employment.

WorldRemit for Business will make it easier individuals to receive payment by UK-based partners via bank transfer to GT Bank accounts.

While some banks can take up to one week to process payments, WorldRemit transfers to Nigeria are processed instantly.

Customers sending funds abroad can easily track their transfers in real-time on the World Remit app and opt-in to receive daily exchange notifications to send money abroad at the optimal time.

According  to Ismail Ahmed, Founder and Executive Chairman at WorldRemit, “When I first started World Remit, I was frustrated with the high charges and long delays in sending money abroad both as a business owner and consumer.  Over the past 9 years, we’ve made it easier for 4 million people around the globe to send and receive money.

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, especially when sending to Nigeria. 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.

Adding to the comment of the CEO World Remit, Shane Lennox , Senior Product Manager for Business further commented that “With more people moving and settling across borders, the nature of business is becoming increasingly global.

This new product offering is catering for those in need of a digital service that solves a number of pain points faced by SMEs with international staff and contractors. This new product launch will enable millions of SMEs to benefit from our award winning convenient service.”

WorldRemit customers complete over 1.4 million transfers every month from over 50 countries to over 140 destinations using its app or website and remain committed to providing innovative solutions to meet money transfer needs across the world.

In addition to partnering with Nigerian Banks including First Bank of Nigeria Plc, Access Bank Plc, Fidelity Bank Plc for instant digital money transfers. In April 2019 the company launched international transfers to Paga mobile money accounts.