Miguel made video transfers to Zimbabwe and Uganda and can pick up the cash for those transfers via Mobile Money. Alma also made cinemagraphs that could involve video transfers to other countries with Mobile Money as a cash pickup option.
Your excellencies, Ladies & Gentlemen,
Remittances matter because they make people’s lives better. Hard working migrants, supporting friends and family. That will never change.
What is changing is the WAY people transfer money. This business is now mobile. Senders use smartphones and, increasingly, recipients are also using their mobiles.
Receiving on a Mobile Money account - like MPESA or EcoCash - means there’s no need to travel to the nearest town in search of an agent to collect your money.
There’s no more walking back home with a pocketful of cash.
And there’s no more waiting – because transfers are instant.
Mobile M
oney is so good that it’s putting cash out of business.
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At WorldRemit when we launch transfers to Mobile Money it rapidly becomes the preferred way of receiving remittances. Like in Zimbabwe with our partner EcoCash.
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Or Uganda where we work with MTN.
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And it’s not just about added convenience. Low cost instant money transfers are changing people’s behaviour.
You’ll recognise the trend from the world of messaging. We’ve moved from expensive international phone calls to SMS, then Skype, and now WhatsApp. Everyone is messaging… all the time… around the world.
The same is happening with remittances. Customers tell us they no longer have to transfer a monthly lump sum… they can now send something for groceries, help with an unexpected bill, even a pay a bus fare home.
They are constantly connected by messaging… and now by money. And they feel closer than ever. Like our customer Stellah from Uganda who says it feels like her friends are “right next to her”
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When you are far from family and friends, anything that brings you closer, makes you more connected, is priceless.We thank you for this award – it is a huge honour. We owe it to our customers… we got it because of them.