Specifically with this round, that functionality will get turned on in Africa.
“Half of our transactions today go to Africa, and those are mostly digital transactions going into mobile money accounts in services like M-Pesa.
The first of these is to increase the number of countries where payments will be able to originate.
Currently, the company lets people 148 countries, and Ahmed wants to bring complete parity to those figures, so that people can transfer money from any country to any country where World Remit operates.
“The flows of funds every day that we are sending works out to a lot of hard currencies and billions of dollars in emerging economies,” he said.
“It’s easier for us to enable those who want to pay someone else.
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To date, World Remit has mainly grown organically, and that is what it plans to do here.
But there is a big opportunity to expand World Remit’s footprint by way of acquisition.