Ismail Ahmed, Founder and CEO at WorldRemit, comments: “We’re excited to expand our fast demonstrates our long-standing commitment and convenient service to Indian migrants abroad. WorldRemit makes sending money as easy as sending an instant message. Globally, WorldRemit customers send 700,000 transfers every month to over 140 destinations. Since the start of its operations in India, WorldRemit customers have completed 1.2 million money transfers. WorldRemit enables the Indian diaspora in over 50 countries around the world to send money home as easily as sending an instant message.
It has built a network of partnerships across the globe to enable remittances and instant payments into India, using its state-of-the-art API banking platform. YES BANK will disburse funds using its instant payment service. WorldRemit customers living abroad will now be able to send secure, instant bank transfers to friends and family in all 29 states and 7 Union Territories in India, from their mobile phone. Currently, India is the top-remittance receiving country in the world it received $69 billion in remittances in 2015, according to the World Bank. The partnership is expected to further support the growing demand for remittances in the country and over 16 million Indians living abroad. YES BANK has an extensive network of 1,000 branches and 1,800 ATMs. Leading digital money transfer service WorldRemit has partnered with India’s 5th largest private sector bank, YES BANK, to launch a new instant money transfer service to India.
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