Supplementing its existing same-day bank transfer service, WorldRemit will now enable customers to send money to be picked up as cash.
According to estimates from the World Bank, the total value of remittances entering Vietnam in 2014 was USD 13.2 billion, accounting for 6.4 percent of the countrys total GDP in that year.
With the WorldRemit app, customers in more than 50 countries can send remittances to friends and family in Vietnam. Under the new service, recipients will be able to collect cash instantly from 218 branches of DongA Bank.
In addition, the news follows the appointment of Michael Liu as regional director for Asia-Pacific in April as part of the WorldRemits regional expansion plans.
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