WorldRemit expands service into Texas

Texan residents can access WorldRemit’s service via their smartphones, tablets, or computers, allowing them to transfer funds to their family and friends living abroad at any time. WorldRemit offers digital alternatives to traditional money transfer services, allowing people in 50 countries to send money to over 120 destinations across the globe. Recipients can receive money via Mobile Money, bank transfer, cash pick up, or mobile airtime top-up.

According to The Migration Policy Institute1, the state of Texas is home to over 4.3 million migrants, the 3rd highest foreign-born population in the country. Nearly 17% of Texas residents are foreign-born, and with WorldRemit’s service, they will now be able to send money to their friends and families in other countries as easily as an instant message.

Texas is home to 2.5 million Mexico-born citizens, 190,000 from India, 118,000 from China, and 91,000 from the Philippines. As these migrant populations continue to grow, foreign-born US citizens will continue to positively impact the Texas economy. The American Immigration Council2 found that foreign-born residents contribute over USD 300 billion in purchasing power and over 600,000 jobs to the Texas economy, suggesting an immediate need for digital remittance services.

Jeff Pietras, VP for International Product Development at WorldRemit noted that, for Texas, residents an alternative to traditional money transfer services is offered by Worldremit from now on. In early 2015, WorldRemit received a USD 100 million funding round led by Technology Crossover Ventures with the goal of global expansion and a focus on serving the migrant community in the US.