WorldRemit Installs New CEO to Step Up its Mobile Payments Presence

October 25, 2018         By: Steven Anderson

We’ve heard quite a bit out of WorldRemit over the last few months, and much of it has been related to its rapid pace of growth. Recently, it dropped word our way about it’s latest growth move, hiring a new CEO in Breon Corcoran to help drive that growth and keep it moving along on the fast pace the company is no doubt getting used to.

Corcoran is no stranger to the top slot, having previously served as CEO of Paddy Power Betfair, an FTSE 100 company and, at last report, the world’s largest online gaming company thanks to its 100-country operations profile. Corcoran takes over for company founder and current CEO, Ismail Ahmed, who will become Executive Chairman instead.

Corcoran noted “Across the world, consumers are turning away from cash, towards digital payments solutions. With tailwinds like the global adoption of new technologies combined with growing remittance flows, there is enormous potential for WorldRemit’s global expansion and I look forward to leading the company through its next evolution.”

Corcoran’s assessment of the market isn’t half bad; WorldRemit’s expected revenues for 2018 are 95 million pounds sterling. That’s up about half again from last year’s 60.5 million figure, and shows a clear upward growth trajectory. The fact that WorldRemit has been expanding its customer base certainly doesn’t hurt either, as now, the company can offer 50 different countries the right to send money to anyone in one of 150 different countries.

Hopefully, Corcoran’s introduction will help drive the company into further growth. It’s certainly got some room; just look at the numbers. You can send money from 50 countries to 150 countries, so why not expand the “from” count? There’s like 100 countries here that could be involved in the action, chipping in on the processing fees. Sure, some of them might not be able to get in–there could be some laws preventing the paying out part in those regions–but getting any of them on the roster could be a winner.

Still, between Corcoran’s experience and WorldRemit’s already-expanding operations, it’s a safe bet it’s going to keep right on winning.