Mobile payments

UK remittance firm rides mobile wallet wave with 6 partnerships in Asia

TransferWise has coupled with companies in Indonesia, the Philippines and Bangladesh to expand its service to more than 150 million mobile wallet users.

London-based fintech TransferWise’s money remittance services will now be available on six mobile wallets in South and Southeast Asia, extending their appeal to unbanked users and migrant workers with family in the region.

The company’s new partners GoPay, OVO and DANA in Indonesia, GCash and PayMaya in the Philippines, and bKash in Bangladesh count more than 150 million users between them.

“With the launch today, we have enabled these people to receive money internationally. They didn’t have the capability before because they didn’t have a bank account,” TransferWise co-founder and chief executive Kristo Kaarmann said in an interview with FinanceAsia.

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