Jazari aims to address a particular problem for migrant workers, who often have limited incomes or access to credit and frequently need to remit more money to their loved ones due to inflation and rising living costs in their home countries. The company enables these individuals to remit up to 40% more through its instant credit product, Remit Now, Pay Later. It’s backed by a multi-region partnership with Visa, secured a recurring credit facilitator to power its lending, and gives its customers a single platform to bank, remit, and pay later.
The partnership with Bud enables Jazari to further help remittance senders and receivers. Leveraging Bud’s financial platform and integrating it, Jazari plans to make remittances faster, more cost-effective, and easier to access, ensuring both sender and receivers have the tools necessary to achieve financial stability and growth.
Bud’s vision is to enable financial data to support the average customer by offering insights to better understand their finances and access lines of credit previously unavailable to them. Jazari chose Bud for its financial connectivity and shared vision to transform how migrant communities send and manage money.
Remit now, pay later is a financial concept that has gained prominence in recent years. It allows individuals to send money or make transactions without the immediate payment, providing a convenience solution for remittance senders.
Remitting the funds now and deferring the payment to a later date offers users financial flexibility and a way to manage their cash flow more efficiently. This model is particularly beneficial for individuals facing temporary financial constraints or those looking to seize immediate opportunities without delay.
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