Digital international money transfer company WorldRemit has announced a partnership with Varo Money, the fintech in digital banking in the US.
The partnership will enable Varo customers direct access in the Varo app to the WorldRemit service, making it easy for Varo customers to send money abroad directly from their mobile phones.
The collaboration brings together two fintechs with the shared objective to deliver modern banking and money transfer services to consumers in a cost-effective way.
Changing customer wants and needs are evidenced by the fact that 9 out of 10 mobile banking users in the US prefer to use apps over going into a physical branch, and 68% of millennials said they could see their smartphone replacing their physical wallet.
While typical use of mobile banking apps include checking balances and paying bills, 57% of mobile banking users said they make money transfers via their mobile phone.
With WorldRemit’s correspondent network reaching more than 150 countries and connected to multiple payout methods for recipients including bank deposits, mobile wallets, cash pick up, mobile airtime top-up, the tie up between Varo and WorldRemit is good news for consumers.
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