Customers in 50 countries can now send money direct to eZ Cash mobile wallets, similarly to an instant message. WorldRemit’s mobile-to-mobile remittance service already enables people to send funds straight to mobile money wallets in countries across Africa, Asia and Oceania. Now, customers can send instant money transfers direct to the mobiles of family and friends in Sri Lanka.
eZ Cash is currently available to Dialog, Etisalat and Hutch subscribers, totalling 14 million people. Sri Lankans, even those without bank accounts, can use eZ Cash to send money to friends, pay water and electricity bills, shop for goods at physical merchants and online, and even pay for health or life insurance premiums.It is estimated that there are around three million Sri Lankans living abroad. Remittances to Sri Lanka contributed USD 7.036 billion to the Sri Lankan economy in 2014, nearly 10% of total GDP, according to the World Bank. In early 2015, WorldRemit received a USD 100 million funding round led by Technology Crossover Ventures.
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