Both companies are combining their strengths and leveraging their capabilities and resources
WorldRemit is deepening its partnership with African fintech Mukuru to expand services and financial inclusion across the African continent.
The two companies aim to expand their collaboration for cash remittances into Zambia, South Africa, Mozambique, Malawi and Botswana
The partnership expansion is the latest move by both companies to enhance the delivery of financial services to customers.
The report states that customers will benefit from guaranteed cash at all times. In addition, there will be no cash-out charges to recipients on cash collections.
Until now, customers who received payments into mobile wallets in partnership countries would pay a cash-out fee when withdrawing cash.
Now, when a WorldRemit customer sends cash to a recipient in Zambia, and that recipient collects their transfer at a Mukuru booth, the recipient will pay no fee at all.
We’ve reported that the global mobile wallets industry is expected to boost nearly 50%, reaching $1.47 trillion value in 2020.