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WorldRemit implements digital money transfers in Malaysia

Thursday 21 September 2017 | 12:01 PM CET

WorldRemit, a UK-based digital money transfer company, has entered the Malaysian market to provide money transfers to over 140 countries.

The company was accepted as one of the four initial entrants into Bank Negara Malaysia's Financial Technology Regulatory Sandbox in June 2017; the presence in Asia includes Malaysia, Singapore, Hong Kong and Japan as send countries.

Remittances sent from Malaysia play an important role in other regional economies; USD 6 billion was sent in 2015, according to the World Bank, and key recipients included the Philippines, Thailand, Vietnam and Indonesia.

More: Link
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