Android Pay for p2p transfers now possible thanks to WorldRemit
WorldRemit has added Android Pay to its service.
The leading digital money transfer service has made it possible for Android Pay users to send money internationally and reach millions via mobile accounts.
Android Pay will allow customers to transfer money instantly across five continents without requiring a credit card or other information or even depending on 3G or Wi-Fi networks. The service will require those receiving the money to specify a mobile bank account in order to collect funds.
In case you are wondering about the safety of your money, Android Pay funds are sent with a virtual account number. This translates into an extra layer of security which is very important nowadays.
WorldRemit becomes the first ever remittance provider to be permitted to add Android Pay directly to its global services.
The company has signed agreements with popular mobile money service providers including Kenya’s M-Pesa and M-Shwari. Others include MTN Mobile Money, Airtel in Ghana, EcoCash in Zimbabwe.
The company has spread its wings over the years since remittances can be accessed in over 50 countries and 140+ destinations. Over 112 million mobile money accounts are accessible via its aggregate network and it accommodates over 600k transactions each month.
The VP of Product at WorldRemit Alice Newton-Rex revealed that at the moment, 60% of its app users are on Android. Since Android is by far the most popular OS in the world, it makes sense that the company would choose to its platform.
She added that the integration of Android Pay continues the company’s commitment to providing greater financial inclusion.
Android Pay’s Milestones since Launch
Google has definitely been enjoying the fruits of their labor since launching Android Pay in 2015. One of the most significant milestones has to be the partnership with PayPal. The other has to be the integration with Facebook’s Messenger for group payments.
Today, Android Pay app has earned over 25 million users across 15 countries. This means that linking up with WorldRemit or other remittance companies gives these companies the numbers thus increased transactions.
According to a World Bank Report, total remittances were $422 billion in 2016. Of this amount, only a small portion was sent through new apps like WorldRemit. A big portion of this money is still transacted via the likes of Western Union and MoneyGram.
In an interview, WorldRemit CEO Ismail Ahmed said that there are plans to introduce Apple Pay in the future.
He added that the promise of using mobile wallets was to simplify and secure the process of uploading and storage of payment details.
The users of the WorldRemit app would be required to use a separate app for each payment or go through any verification pages. These two steps have been linked to decreases in transactions.
Ahmed said that the company is happy to save you some trouble and reduce the friction.
WorldRemit has raised almost $150 million in funding and is set to get more funds which will be used to bring the next level of growth in this industry.