WorldRemit Launches Online Money Transfers in Japan
WorldRemit, is one of the leading online money transfer business, and it has just recently launched in Japan.
Customers in Japan now have the pleasure of being able to send money to family and friends worldwide, via a mobile phone, tablet, or computer. This is serving to cut out the need to travel to agent locations or bank branches during business hours.
Bringing the offline remittance industry to mobile, WorldRemit’s arrival in Japan underlines its status as a reputable role in the global FinTech movement.
Japan is the third largest economy in the world based on statistics by GDP and has a supportive regulatory environment for financial services. The exact number of foreign workers living in Japan exceeded over 1 million for the first time ever last year.
According to a report from WorldBank, these migrants sent approximately $4 billion in remittances to family and friends abroad in 2015 alone.
Ismail Ahmed, CEO at WorldRemit, comments, “Japan and the broader Asia Pacific region are important parts of our global growth strategy. Remittances are crucial to many people living in this region, and we are very pleased to be able to offer our digital services to customers in Japan. This adds to our current send markets in this region, which provides a very solid base for further expansion into neighboring countries.”
Tsuyoshi Ijichi, Country Director for Japan, comments, “Japan represents a key market for WorldRemit. We are here to serve the many migrant communities in Japan who send money, offering them more choice and a safer, faster and lower cost service than legacy competitors”.
WorldRemit customers currently send over 580,000 transfers every month.