Online money transfer business WorldRemit has launched in Japan. Customers in the country – ranked the world’s third-largest economy by gross domestic product (GDP) – will be able to send money to family and friends worldwide, using a mobile phone, tablet or computer. The number of foreign workers living in Japan exceeded one million for the first time in 2016. The WorldBank reports that these migrants sent US$4bn in remittances to family and friends abroad in 2015 alone.
WorldRemit now operates in more than 50 countries and its service for sending instant and secure transfers extends to more than 140 destinations. “Japan and the broader Asia Pacific region are important parts of our global growth strategy,” said chief executive officer (CEO), Ismail Ahmed. “Remittances are crucial to many people living in this region, and we are very pleased to be able to offer our digital services to customers in Japan. This adds to our current send markets in this region, which provides a very solid base for further expansion into neighbouring countries.”