Remittance company closes in on $1 billion mobile money transfer mark

folarin okunola

January 14, 2016 1:20 PM

The company announced that its customers are well on their way to reach $1 billion annually because of the rate of transfers recorded in December.

Remitly

Remitly, known as the largest independent digital remittance company within the United States, has announced its growth results in annualized mobile money transfer.

The company announced that its customers are well on their way to reach $1 billion annually because of the rate of transfers recorded in December.

Additionally, the World Bank expects remittances to reach more than $588 billion in 2015. The apex bank also says it expects 74 percent of these remittances are going to developing countries.

Remitly makes money transfers from the United States to the Phillipines, India, and Mexico. Those three nations alone account for over 35 percent of all remittances coming out of the US.

Mobile Money Africa reports that the company plans to maintain a customer focused approach by focusing on the largest markets as they grow on a global scale.

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