The instant money transfer firms, Xpress Money and WorldRemit have entered into an agreement to launch remittance services across Pakistan.
A remittance is a money that a person living abroad sends to his or her country of origin via online transfer, wire or mail. Pakistan received $20 billion in remittances in 2015.
The instant and safe money transfer services will enable the customers in Pakistan to collect their cash from about 9,500 locations countrywide. The pick-up locations include Bank of Punjab, Meezan bank, Soneri Bank, Zarai Taraqiati Bank, Bank of Khyber, FINCA Microfinance Bank, Bank Alfalah, Al Habib Bank, Sindh Bank Limited, JS Bank, Punjab Provincial Co-operative Bank, Dubai Islamic Bank Pakistan and Silk Bank.
Xpress Money and WorldRemit announced their partnership earlier in December 2016 to open remittance channels across Asia and Africa. Ismail Ahmed, founder and CEO at WorldRemit, said,
“We want to offer our customers the widest and most convenient choice of payout options. Xpress Money is a trusted and dependable money transfer brand with a fantastic network of agents across the world. Our partnership will extend our footprint into new territories and will enable even more people to make secure instant money transfers.”
“It is ideal to have partnered with a like- minded brand as WorldRemit, which is also working towards a similar objective that benefits the end customer. The remittance industry is at a juncture where it is necessary for brands to collaborate for the sake of the industry at large.” Sudhesh Giriyan, COO Xpress Money added.
WorldRemit is an online safe and instant money sending service which lets people living abroad send cash to their family and friends. Thousands of transfers are made every month to about 125 countries. The other sending options include Mobile Money, Cash pickups, bank deposits and airtime top-up. Mobile airtime is added instantly to phones on Mobilink, Telenor, Ufone, Warid and Zong.
Xpress Money is a global money transfer firm providing instant money sending services to about 150 countries, which include Cash Payouts, Remit Card or ATM, Account Credits, Mobile Wallets and Door Delivery Services.