In a bid to make international business payments faster and easier, digital money transfer company, WorldRemit, has launched WorldRemit for Business.
WorldRemit for Business is a new service that enables small and medium-sized business owners to quickly pay employees and contractors across 140 countries; including fast-growing markets such as Nigeria, Ghana, Kenya, and South Africa.
According to a statement obtained by Nairametrics, the platform will first be available to U.K.-registered businesses.
What inspired the initiative: Each year, the UK imports $2 billion in goods and services from Nigeria, where SMEs account for 96 percent of businesses and 84 percent of employment.
Speaking on the initiation, WorldRemit‘s Founder and Executive Chairman, Ismail Ahmed, said the following;
“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 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.”
Note Board: WorldRemit for Business will make it easier for 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 payment.
About WorldRemit: WorldRemit is the leading digital money transfer service that makes sending money as easy as sending an instant message. We currently send from 50+ countries to over 140 receiving destinations, leading the shift to online and mobile money transfers and improving speed and convenience for users.
On the sending side, WorldRemit is 100% digital. For those receiving money, the company offers a wide range of options including bank deposit, cash collection and mobile airtime top-up, and mobile money.