WorldRemit Partners with Millicom’s Tigo Money Subsidiaries
A leader in digital money transfer, World Remit, announced today that it has linked up with Millicom’s subsidiaries Tigo Money to open up new remittance routes to El Salvador and Guatemala.
This will serve to enable Salvadorans and Guatemalans abroad to send money transfers instantly to more than one and a half million Tigo Money users in those countries, directly from the WorldRemit app.
Tigo Money is a leading provider of mobile financial services for customers across Latin America and is today the largest bill payments platform in El Salvador. At the present time, there is one Tigo Money transaction per second in El Salvador, of which international remittances make a significant contribution.
Meanwhile in Guatemala, Tigo Money covers 92 percent of the total territory, becoming the second largest physical distribution network in the country.
WorldRemit users across the globe will soon be able to make secure, instant money transfers back home from their mobile phone to any Tigo Money users in El Salvador and Guatemala, who, regardless of where they happen to be, will have instant availability and capacity to resend money nationally, buy top ups, pay bills, or simply have the possibility to cash out partially or totally their money in Tigo Money’s extensive agent network.
Ismail Ahmed, founder and CEO at WorldRemit, comments: “Our partnership with Tigo Money in Central America will give more choice to millions of Salvadorans and Guatemalas living and working abroad, giving them a simple, safe way to support their friends and family without having to wait in line at a money transfer agent. Offering our customers the option to send to Tigo Money accounts supports the transition from costly offline remittances via high street agents, to faster, safer and lower cost online transfer methods”.
Ronald Alvarenga, Director of Mobile Financial Services for Millicom says: “The Alliance with WorldRemit is one of our first 100% digital alliances. It responds to our focus of placing our customers in the center of all our services, providing the best customer experience they can get through their mobile phones. This will benefit our Salvadoran and Guatemalan community abroad as well as their relatives who live and receive remittances in El Salvador and Guatemala. We are connecting lives in a digital world, offering a convenient, fast, secure and affordable way for customers to receive their money.”