WorldRemit – A Somali Success Story

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What is the history of WorldRemit?

• WorldRemit is a leading digital money transfer service that makes sending money as easy as sending a text message. We take the stress out of sending and receiving money by enabling customers to send money straight from a mobile phone in just a few taps. No queues, no travelling to an agent.

• We currently send from 50+ countries to over 130 receiving countries, leading the shift to online and mobile money transfers.

• We’re improving speed and convenience for users, while lowering costs. On the sending side we are 100% digital (cashless). For those receiving money, WorldRemit offers a wide range of options including bank deposit, cash collection and mobile airtime top-up and critically mobile money.

• We are a company with a social purpose. Shaped by the vision of our founder Dr. Ismail Ahmed, a Somali-born entrepreneur, we remain committed to using our technology to provide a more convenient way to serve Africans both as senders and recipients

How has the pandemic affected your customers? Have you seen a decrease in the amount and frequency that people are sending money back home? 

In the last decade, the development of new digital platforms and services led by WorldRemit and others had caused a shift in the way consumers favor electronic transactions over cash. 

The pandemic itself did not cause the shift to digital transfers, but it did trigger an acceleration in the use of mobile money and other non-cash payment options. It is a trend that we will continue to see in 2021 in which users are expected to increasingly opt for digital options, as long as they are fast, simple and secure. 

    What are WR goals for 2021? 

To continue serving communities across the world by enabling them to support those dearest to them back home through our fast, safe and easy to use service.

We want to serve markets such as Somalia by helping users transfer money to their loved ones with ease, and we will continue working towards making that process faster and better 

    What makes WorldRemit different from their competitors?

WorldRemit is at the forefront of the transformation of the money transfer industry from offline to mobile. The vast majority of remittances have been sent offline at corner shops and bricks-and-mortar money transfer agents. People in the diaspora have to find the time in their busy lives (many working multiple jobs), to visit a money transfer agent during business hours and then pay extortionate fees to send money home. Through our service, people can send support to family and friends back home in the comfort of their homes. We are also the leading provider of money transfers to mobile money wallets in Africa.

On the sending side, our customers are increasingly using our app to send money transfers, allowing them to send money 24/7 with just a few taps on their smartphone. Today, over 70% of our transfers are sent from a Smartphone.

How do I send money to Somalia and Somaliland?

You can easily send money on our app or on our website. 

1) Enter how much you would like to send – you’ll see our rates and fees upfront.

2) Add a new recipient or choose from a list of those you previously sent to. You’ll need their email address, 

3) Pay by your chosen method. We’ll notify you and your recipient when your money arrives.

 How do they receive money?

Your recipient can pick up the transfer at any branch of Juba Express in Somalia, and in Somaliland it is available at Juba Express or at your recipients’ Telesom ZAAD mobil