WorldRemit and Orabank partner for online money transfers to Senegal
Leading online money transfer service WorldRemit has joined forces with Orabank to enable instant money transfers to 10 new cash pickup locations in Senegal.
WorldRemit saves customers time and money as they do not have to pay expensive fees at a money transfer agent to send money home. The company offers a variety of convenient ways to send money to Senegal including bank transfer, instant cash pick-up and mobile airtime top-up.
The new partnership with Orabank expands WorldRemit’s footprint in Senegal, taking its total number of cash pickup locations in the country to 3,900.
Orabank offers individuals and businesses a range of convenient financial services, including savings, credit and money transfer. The bank serves 30,000 clients at its 10 agents and 112 sub-agents across Senegal.
The World Bank estimates that Senegal received over $2.2 billion in remittances in 2018, representing over 9% of its GDP. WorldRemit transfers to the country increased by over 200% between 2017 and 2018.
Andrew Stewart, Managing Director for Middle East and Africa at WorldRemit, said:
“We are delighted to partner with Orabank, a trusted financial institution in Senegal, to add several new cash pickup locations to our network in the country. “Nearly 60% of the Senegalese population remain unbanked. Our cash pickup service with Orabank enables remittance recipients with or without a bank account to collect funds from abroad instantly. We also send notifications to both senders and receivers when a transfer has been sent and the cash has been collected so you can stay connected at every stage of the money transfer journey.”
Luc Morio, MD at Orabank Senegal, said:
“We are very excited to work with WorldRemit, one of the most innovative players in the remittance sector. This partnership will help us diversify our offer and better serve our customers. The future of remittances is digital and we are convinced that partnerships between banks and fintechs are the best way forward to keep delivering the best quality of service.”