How are fintechs transforming the new era of global remittances?

Historically, cross-border transfers/remittances have been a challenge, filled with long waiting periods and high transfer fees. However, financial technology has revolutionized this, offering a safe, secure and relatively cheap way of transferring funds.

Mobile money has paved the way through provision of basic money transfer and payment services to the unbanked population.

Today, Fintechs have enhanced inter-connectivity between financial institutions, businesses and the end-consumer through mobile and digital wallets

Through remittance service offerings, users can now send money to and from a range of digital end-points, including mobile money accounts, debit/credit cards, bank accounts and cash outlets, regardless of their location.

Given this interoperability of Fintechs, remittances can be made in real time across borders and time zones.

Through development of partnerships with companies such as Mobile Network Operators (MNOs) and banks, Fintechs can tap into a wider customer base and quickly and efficiently increase their reach.

Pivot Payments, a Ugandan fintech is set on providing a long term remittances' solution for Uganda’s labour export market using the Pivot Pay App to send money home safely.

The company is strengthening its operations in remittance operations for over 150,000 Ugandans working in the Middle East some of whom are financially excluded spread across Gulf countries in Saudi Arabia, Qatar and United Arab Emirates.

If you want to send your money safely from the Middle East to Uganda.

Use our Pivot Pay App, download it here: https://lnkd.in/dB_VMwTm

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