Remitly expands into the Middle East

Friday 24 February 2023 14:05 CET | News

US-based remittance processor Remitly has launch its outbound remittance product in the UAE and opened an office in Dubai.


Remitly is already a trusted partner throughout significant recipient regions from the UAE, including locations such as India, Pakistan, the Philippines, and Bangladesh. Its strong foothold and partnerships in these areas, coupled with its customer-centric commitment to a reliable, fast, transparent, and convenient remittance experience, sets the company up for long-term growth in the region. Remitly is available for download from the Apple App Store and Google Play.

US-based remittance processor Remitly has launch its outbound remittance product in the UAE and opened an office in Dubai.


The remittance ecosystem in the UAE

The remittance sector in the UAE is strong, with immigrants comprising nearly 90% of the country’s population, as per the press release. With the vast majority of remittance transactions completed through cash pay-in at brick-and-mortar stalls, Remitly’s expansion into the UAE brings a welcomed solution for the millions of immigrants there dealing with long wait times, operating hour constraints, and risks associated with cash (both financial crime risk and physical security risk).

Officials from Remitly said that with one of the world’s largest populations of immigrants and the second-highest global volume of remittance originations, the UAE was a natural choice for them as a market for expansion. Moreover, the country’s advanced digitisation and push towards a cashless economy makes Remitly’s platform particularly relevant and well suited to the population here. They are happy that this expansion will bring reliable international payments support for immigrants and their loved ones back home.

What does Remitly do?

Remitly is a digital financial services provider for immigrants and their families in over 170 countries around the world. Remitly helps immigrants send money home in a safe, reliable, and transparent manner. Its digitally-native, cross-border remittance app eliminates the long wait times, complexities, and fees typical of traditional remittance processes. Building on its foundation, Remitly is expanding its suite of products to further its mission and transform financial services for immigrants all around the world.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: remittance, money transfer, expansion, digitalisation, mobile payments
Categories: Payments & Commerce
Companies: Remitly
Countries: United Arab Emirates
This article is part of category

Payments & Commerce


Discover all the Company news on Remitly and other articles related to Remitly in The Paypers News, Reports, and insights on the payments and fintech industry:

Industry Events