WorldRemit and Tigo Rwanda launch instant international money transfers to Tigo Cash mobile wallets

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WorldRemit Ltd

Nov 17, 2015, 03:30 ET


(PRWEB UK) 17 November 2015 -- Online money transfer service WorldRemit today launches instant transfers to Tigo Mobile Money accounts in Rwanda. This announcement makes WorldRemit the first international remittance service to send to mobile wallet users in Rwanda. The new service allows WorldRemit customers from over 50 countries from across the globe to send money to Tigo Cash customers in Rwanda - just like an instant message.

Tigo Cash in Rwanda offers innovative digital financial services to over 2.6 million people in Rwanda – the main services includes sending and receiving money, merchant payment, Electricity bills and Pay TV, as well as airtime recharge. In recent months, Tigo Rwanda introduced Tigo Sugira, which offers the best interest rates on the market and is first savings account on mobile.

The WorldRemit App already allows people in more than 50 countries to send money to more than 125+ destinations. It is now available to Rwandans living and working abroad, who are estimated to have sent home more than $179m in remittances in 2014, according to the World Bank.[2]

Tongai Maramba, Chief Executive Officer, Tigo Rwanda said: “Tigo Cash has already seen tremendous success and adoption within Rwanda. We hailed our one millionth active customer number recently. One third of our customer base actively users Tigo Cash at least once a month. We welcome WorldRemit as an innovative partner allowing Rwandans abroad to send money home in the most convenient and secure way – from a Smartphone to a Tigo Cash mobile wallet.”

Alix Murphy, Senior Mobile Analyst at WorldRemit commented: “For those sending money to Rwanda, our partnership with Tigo Cash sets a new standard: no more extortionate fees, no more waiting in line at convenience stores and cash pick-up locations. Together with Tigo, we make sending money home as easy as sending an instant message.”

(1) World Bank - Global Findex Database 2014
http://datatopics.worldbank.org/financialinclusion/country/rwanda

(2) World Bank - Annual Remittances Data
http://siteresources.worldbank.org/INTPROSPECTS/Resources/334934-1288990760745/RemittanceData_Inflows_Apr2015.xls

ENDS

Note to editors

  • Images for press here
  • WorldRemit currently enables over 300,000 transactions per month

About Tigo Rwanda
Tigo Rwanda is owned by Millicom, a leading telecommunications and media company uniquely dedicated to emerging markets in Latin America and Africa. It provides mobile, mobile financial, cable and satellite services to almost 60 million customers in fourteen countries, primarily under the Tigo brand. Tigo has been operating in Africa since 1993, in Rwanda since 2009, and serves over 26 million African customers.

Fact Box

About WorldRemit
WorldRemit is changing the way people send money.

  • It’s easy – just open the app or visit the website – no more agents.
  • Transfers to most countries are instant – send money like an instant message.
  • More ways to receive (Mobile Money, bank transfer, cash pickup, and mobile airtime top-up).
  • Available in 50 countries and 120+ destinations.
  • WorldRemit raised $140m from Accel Partners and TCV – investors in Facebook, Spotify and Dropbox.

WorldRemit’s global headquarters are in London, UK with regional offices in USA, Canada, Japan, Australia and New Zealand.

Ben Leong, WorldRemit Ltd, +44 2071486118 Ext: 210, [email protected]