The famous remittance service WorldRemit expand their services to Cameroon providing a way to Cameroonians all over the world to send money to their relationships in Cameroon. For this, they've partnered with the telecom operator MTN, Atlantic Bank and Express Union. With the WorldRemit app or website, Cameroonians all over the globe will be able to send money to their relatives in the country, and the country's residents can choose the way in which they want to receive that money. They include :
WorldRemit sees high growth potential in remittances to Mobile Money accounts. With only 12% of adults in Cameroon holding bank accounts, Mobile Money provides a way for people to instantly receive a remittance using just a phone. Also, with over 2,6 million subscribers to MTN Mobile Money, they could target a large number of Cameroonians. Remittances play an important role in Cameroon’s economy – Cameroon received$244m in remittances in 2015 according to the World Bank, more than double the amount in 2010. Catherine Wines, co-founder and Executive Director at WorldRemit, comments: “We see the diaspora of Cameroon as leading the way in adoption of digital money transfers. Sending money through our app becomes as easy as sending an instant message – no more waiting in line at expensive money transfer agents. Our partnerships with trusted brands like MTN Mobile Money, Express Union and Banque Atlantique offer unrivaled local expertise and more payout options to the benefit of consumers.
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