WorldRemit Advances Mobile Payments, Connects With WhatsApp
WorldRemit has increasingly made a name for itself with its high-speed money transfers, to the point where it’s even become the official online money transfer system of the Arsenal Premier League team. Now, it’s just stepped up its presence even further to connect with WhatsApp, which in turn provides new benefits for WorldRemit users.
With the new partnership established, WorldRemit users in 145 different countries will be able to get access to instant notifications about money transfers, delivered over the WhatsApp interface. This may not seem like much, but in many markets where short message service (SMS) isn’t exactly up to par, it’s a big step. WhatsApp’s reliability is often superior to that of SMS in many places, which improves the notification aspect substantially.
It’s the first time that a UK fintech operation has connected with WhatsApp in such a way, and also gives WorldRemit a leg up on its goal of serving 10 million customers in emerging markets by 2020. With around 1.2 million transactions running through WorldRemit every month, its aspirations may well come to pass.
WorldRemit’s chief product officer Alice Newton-Rex noted “WorldRemit is delighted to add the WhatsApp Business solution to its platform to further improve its service by enabling our customers to receive instant updates on transactions. This integration will make our safe, fast and low-cost remittance service even more convenient for millions of WorldRemit customers around the world.”
This might not seem like much of an improvement, and admittedly, it’s comparatively small. At least, it is to those for whom SMS is an easy-access proposition. WorldRemit’s new connection to WhatsApp will provide plenty of extra value thanks to the ability to better receive—or even receive at all—real-time updates about cash transfers. That’s good for people who don’t already have such access, and given that WorldRemit’s focus seems to be on developing nations, the end result is an extra reason to use WorldRemit right in the places it most wants to be put to use. WhatsApp’s status as a leading messaging app worldwide certainly doesn’t hurt either.
Only time will tell if this plan works, but on the surface, it’s got pretty much everything it needs to have to win.