Kenyans Abroad are Biggest Users of Digital Remittances to Mobile Accounts

31 March 2017

Money Transfer

Kenyans living abroad has been described as the biggest sender of digital remittances to mobile accounts. This was disclosed in a statistics made available by WorldRemit, – a digital payment platform that allows people to send money to anywhere all around the world.

The report says that transfers to mobile money accounts make up 93% of WorldRemit transactions to Kenya, showing that Kenyans continue to be early adopters of innovative technology, even when abroad.

It also mentioned that mobile money has played a key role in the growth of WorldRemit’s Kenyan customer base, attracted by the low price, speed and convenience of sending instant remittances from the app or website directly to a mobile phone in Kenya.

According to the Ismail Ahmed, Founder and CEO at WorldRemit, comments said that “Kenya is famed for leading Africa’s digital transformation, and today it’s Kenyans abroad who are at the forefront of digitising international money transfers”

“Most of our Kenyan customers use our mobile app, demonstrating the strong demand for convenience when sending to friends and family”, he affirmed.

In January 2017, WorldRemit customers transferred more than $140m (at annualised rate) to Kenya, making WorldRemit one of the largest remittance companies serving the Kenyan diaspora having UK, Australia, US, Germany, Canada and Nordic countries as the top remittance-sending countries.

The report maintained also that around three million Kenyans that live abroad with large communities in North America, Europe and Australia, 74% of all remittances to mobile money accounts are sent via WorldRemit.

Ahmed revealed that WorldRemit is now connected to over a fifth of all mobile money accounts – 112 million of 500 million mobile money accounts around the world with the company pioneering mobile to mobile remittances, sending to 32 mobile money services in 24 countries – more than any other money transfer service.

“With half a billion registered accounts worldwide, mobile money continues to transform lives by allowing people to access financial services for the first time. WorldRemit customers now send more than 65,000 transfers to the country every month from the WorldRemit app and website with over 90% going to M-PESA”.
Source: Financial Technology 29 March 2017