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Mar 1, 2018 | Business & Finance

WorldRemit launches international money transfer service in New York to serve the state’s Ghanaian community

New service set to accelerate company’s rapid growth in the Ghanaian remittance market
By Modern Ghana
WorldRemit launches international money transfer service in New York to serve the state’s Ghanaian community

New York and Accra, 1st March 2018 - Leading international money transfer service WorldRemit has launched in New York, connecting the state’s 27,000-strong Ghanaian diaspora to its fast, low cost service.

Using WorldRemit’s app or website, users can easily complete international transfers to Ghana without the inconvenience of visiting a bricks and mortar agent. On average our Ghanaian consumers saved $116 in sending costs versus Western Union in 2017 when sending money from the United States.

The company has been sending money to Ghana since 2011, and handles over 100,000 transactions each month. There are reportedly 230,000 Ghanaian migrants living across the US, with over 10% living in New York. Many continue to have close ties to their friends and family back home.

Ismail Ahmed, founder and CEO of WorldRemit comments: “Millions of customers around the globe send funds to family and friends back home with WorldRemit. New York is truly a melting pot of people and cultures and we are pleased that we can now bring the benefits of our lower-cost, convenient service to all the diverse communities of New York.”

Andrew Stewart, Regional Director of Middle East & Africa at WorldRemit added: “We are delighted to launch New York as a send location, connecting thousands of Ghanaians living in the state to their family back home. Ghana is an important market for us and we have worked hard to ensure that our large network of receive options across the country are as convenient as possible for those receiving money from abroad.”

WorldRemit handles a growing share of the global $600 billion remittance market. With the addition of New York, the US is set to become WorldRemit’s largest send market - in 2017, the company saw more than 200% year on year growth in money sent on its platform from the US.

Founded by entrepreneur Ismail Ahmed in 2010, WorldRemit has secured $220 million in funding including from Accel and TCV - early investors in Facebook, Spotify, Netflix and Slack.

The company started its money transfer operations in the US in 2014.

Visit WorldRemit for more information on how to send money to Ghana.

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