WorldRemit adds Android Pay for mobile remittances
WorldRemit is integrating with Android Pay, taking a big step toward streamlining the process for sending mobile cross-border remittances.
Senders in developed markets may now add Android Pay as a funding option, enabling them to complete mobile-to-mobile transfers with five clicks, bypassing the need to re-enter payment card details or 3-D Secure passwords, according to a Tuesday press release.
Android Pay transactions within WorldRemit’s app are tokenized and sent with a virtual account number for added security, WorldRemit noted in the announcement.
About 60% of WorldRemit's customers who routinely sending funds home to friends and family use Android handsets, and WorldRemit’s customer base is heavily focused on mobile users, said Alice Newton-Rex, WorldRemit’s vice president of product, in the release.
“Worldwide 2 billion people are still unbanked, but critically half a billion use their mobiles as a bank account,” she added.
WorldRemit is the first operator in the $575 billion remittance market to support Android pay for mobile transfers, the company said.