Sri Lanka mobile phones to receive foreign cash from WorldRemit
ECONOMYNEXT – UK-based WorldRemit said its international cash transfer service to Sri Lanka has been launched, allowing mobile phone users in the country to receive up to 25,000 rupees (about 180 dollars) at a time.
Sri Lanka receives about 7 billion US dollars of remittances from the Middle East, East Asia and Europe from expatriate workers as well as family members who have migrated abroad.
"WorldRemit’s fees depend on the sender’s county. In the UK, fees start at just under GBP 2, making it affordable for people to send smaller amounts, more frequently," Alix Murphy, senior mobile analyst at WorldRemit told EconomyNext.
"In addition to Mobile Money transfers, WorldRemit also enables customers to send money to Sri Lanka by bank transfer or cash pickup, with much higher transaction limits."
The money can be sent to phones in Sri Lanka’s Dialog, Etisalat and Hutch telecom networks where ‘eZ cash’ branded mobile payments services are activated.
The balances in ‘eZ cash’ mobile wallets can be transferred to other phones, used to pay bills or withdrawn as cash from a banks or outlets that offer pre-paid cards or top ups.
Sri Lanka does not yet allow money to be remitted out through mobile phones.
"For now, WorldRemit supports money transfers to Sri Lanka from more than 50 countries in the world," Murphy said.
"However, we are always looking to expand the list of countries people can send money from and have already enabled outbound transfers from traditional ‘receive’ markets such as the Philippines."