WorldRemit recently partnered with MTN Mobile Money, Express Union and Banque Atlantique to ensure that Cameroonians can choose to receive remittances in a way that suits them.
With the WorldRemit app or website, people all over the world can now send money instantly and securely to their friends and relatives to be collected with either Mobile Money as MTN has over 2.6 million Mobile Money accounts in Cameroon, Cash Pickup which can be collected at hundreds of Express Union locations throughout Cameroon or at any branch of Banque Atlantique or Bank Transfer.
Commenting on the recent developments, Co-founder and Executive Director at WorldRemit, Catherine Wines said: “We see the diaspora of Cameroon s leading the way in adoption of digital money transfers. Sending money through our app becomes as easy as sending an instant message – no more waiting in line at expensive money transfer agents.
“WorldRemit sees high growth potential in remittance to Mobile Money accounts. With only 12% 0f adults in Cameroon holding bank accounts, Mobile Money provides a way for people to instantly receive payment using just a phone.
“WorldRemit sends more money transfers to Mobile Money accounts than any other provider and is currently connected to 34 Mobile Money services in 26 countries. Over half of WorldRemit’s money transfers to Africa are now received on Mobile Money accounts.
“Our partnerships with trusted brands like MTN Mobile Money, Express Union and Banque Atlantique offer unrivaled local expertise and more payout options to the benefit of consumers,” Wines added.
Remittances play an important role in Cameroon’s economy. The country received $244m in remittances in 2015 according to the World Bank, more than double the amount in 2010.
