Business

WorldRemit Launches Money Transfer Service in Hawaiʻi

March 25, 2017, 11:03 AM HST
* Updated March 27, 1:11 PM
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Hawaiʻi residents now have a new medium for sending money to family overseas.

WorldRemit, a leading online money transfer company, just launched in the Islands with a mobile app and website service.

Customers throughout the Aloha State can now send money to over 140 destinations worldwide. WorldRemit’s smartphone app and website allow users to send money like an instant message.

“We’re excited to bring a fast, convenient service to the people of Hawaiʻi,” said Ismail Ahmed, founder and CEO at WorldRemit. “Hawaiʻi is an under-served market when it comes to online money transfer services, despite the large number of migrants who regularly send money home.”

Demographically, Hawaiʻi is one of the most diverse states in the nation, and has one of the highest percentages of foreign-born residents. An estimated 120,000 were born in the Philippines, where money transfers account for 10 percent of GDP, according to the World Bank.

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WorldRemit intends to target its service to Filipino migrants in the Islands, many of whom send money to their home country.

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The online remittance company said its customers send an estimated 580,000 transfers worldwide each month.

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