Leading digital money transfer provider WorldRemit has launched a new remittance service to Vanuatu.
The service will provide a lower-cost and more convenient way for the Vanuatuan diaspora to send money back home to their families and communities.
A statement said Vanuatuans living and working in over 50 countries will now be able to send remittances as easily as sending an instant message, using the WorldRemit app or website to new cash pickup location across Vanuatu.
WorldRemit’s mobile-first, digital model allows hard working migrants to send money in a few taps directly from their phones. The digital first model is not only more convenient than visiting bricks and mortar agents but cheaper too. This is especially important as - according to the World Bank - the cost of sending remittances between Australia and Vanuatu in 2015 was the highest in the world.
Vanuatu has thousands of its population living and working overseas, with top migration destinations including France, Australia and the United States. The World Bank estimates that in 2015 the country received $24 million dollars in overseas remittances, double the amount of remittances received in 2010. It also estimates that the cost
WorldRemit’s Regional Director for Asia Pacific, Michael Liu, comments: “We are delighted that Vanuatuans can now benefit from WorldRemit’s convenient global service as remittances play an increasingly important role in the country’s economy.”
In June, WorldRemit announced a global integration with Google’s Android Pay, followed by a partnership with Huawei’s mobile money platform across Africa. WorldRemit customers now complete 750,000 transfers every month from over 50 send countries to over 148 receiving destinations.
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