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WorldRemit in Steward Bank partnership

19/05/2014 00:00:00
by Business Reporter
 
World Remit partnership ... Steward Bank CEO, Kwanele Ngwenya
 
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GLOBAL online money transfer service, World Remit has teamed up with Steward Bank in Zimbabwe to offer recipients enhanced convenience at the bank’s extended branch network across the country.

Customers of WorldRemit, which recently secured a $40 million investment from Accel Partners, will now be able to make use of cash pick-up services at thirteen Steward Bank locations in ten different cities, including Harare, Bulawayo, Mutare and Gweru.

This development complements existing options available to the Zimbabwean diaspora and ensures that they have access to the full range of pay-out options, which includes money transfers to EcoCash Mobile wallet and airtime top-up in addition to bank deposit and cash pick-up.

Since its acquisition by telecoms giant Econet Wireless Zimbabwe in January 2013, Steward Bank is now poised to become one of the leading financial services organisations in the country.

Meanwhile, according to the WorldBank, $519 billion of remittance payments were made in 2012, of which $2.1 billion are estimated to have been sent to Zimbabwe.

WorldRemit, with its online business model, offers a more efficient, affordable and transparent remittance alternative to traditional money transfer operators. Customers can send funds from 36 countries to families and friends in over 100 destinations.

Ismail Ahmed, Founder and CEO at World Remit, said: "At WorldRemit our priority is making the money transfer process as smooth as possible for our customers.

“This partnership with Steward Bank increases the options for senders and recipients, making it more convenient to send money to Zimbabwe.”

Commenting on the partnership, Steward Bank CEO, Kwanele Ngwenya said: “We are always looking for new ways to deliver relevant financial services that are affordable.”

He added: “This new offering enhances our key propositions as a bank - ease and convenience. Using WorldRemit, Zimbabweans are able to receive money from abroad easily through Steward Bank branches across Zimbabwe.”

Headquartered in London, WorldRemit is a global online money transfer business helping migrants and expats from 34 countries make online payments to families and friends in over 100 destinations.

The company offers a wide range of options to send and receive payments.

Senders can make payments online, through smartphones or tablets, by debit or credit card, or via bank transfer. Recipients can get paid via bank deposit, direct transfers to mobile wallets, cash pickup or delivery, or airtime top-up for their mobile phones.



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