With the opening of its new hub in Singapore, the company eyes expansions in Asia by gaining a presence in Hong Kong, Japan and Malaysia. The APAC region represents a volume of 25% of all transactions processed by WorldRemit.
According to the UN’s International Fund for Agricultural Development (IFAD), the most dynamic growth in remittances over the past decade has been in Asia, which now receives 55% of the total.
Remittances sent from Singapore to nearby countries like the Philippines, China, Malaysia, Indonesia and India, amounted to over USD 6.2 billion in 2015, according to the World Bank.
In June 2017, WorldRemit has integrated Android Pay for migrant remittances. This was followed by a partnership with Huawei for money transfers to Africa.
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