WorldRemit Launches Online Money Transfers in Japan

by PaymentsJournal 0

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Migrantsin Japan can now send money online to more than 140 countries

London and Tokyo, 27 March 2017: WorldRemit,the leading online money transfer business, has launched in Japan.

Customers in Japan will now be able to send money to familyand friends worldwide, using a mobile phone, tablet or computer – cutting outthe need to travel to agent locations or bank branches during business hours.

Bringing the offlineremittance industry to mobile, WorldRemit’s arrival in Japan underlines itsstatus as a major player in the global FinTech revolution.

Japan is the third largest economy in the world by GDP and has a supportive regulatory environment forfinancial services. The number of foreign workers living in Japan exceeded 1million for the first time in 2016. According to the WorldBank, thesemigrants sent $4 billion in remittances to family and friends abroad in 2015alone.

With WorldRemit, peoplein more than 50 countries can send instant and secure transfers to more than140 destinations. Known as the ‘WhatsApp of money’, WorldRemit makes sendingmoney as easy as sending an instant message.

Ismail Ahmed, CEO at WorldRemit, comments:Japan and the broaderAsia Pacific region are important parts of our global growth strategy.Remittances are crucial to many people living in this region, and we are verypleased to be able to offer our digital services to customers inJapan. This adds to our current send markets in this region, whichprovides a very solid base for further expansion into neighbouring countries.

Tsuyoshi Ijichi, Country Director for Japan, comments:“Japan represents a key market for WorldRemit. We are here to serve the manymigrant communities in Japan who send money, offering them more choice and asafer, faster and lower cost service than legacy competitors”.

WorldRemit customers currently send over 580,000 transfersevery month.

ABOUT WORLDREMIT

WorldRemit is changing the way people sendmoney.

It’s easy – just open the app or visit thewebsite – 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).
  • Available in over 50 countries and 140+ destinations.
  • Backed by Accel Partners and TCV – investors in Facebook, Spotify, Netflix and Slack.

WorldRemit’s global headquarters are in London,UK with regional offices in the United States, Canada, South Africa, Singapore,the Philippines, Japan, Australia and New Zealand.

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