UK money transfer company looks to tap into US $7 billion transferred by diaspora to Sri Lanka

A UK based money transfer company will launch a mobile money transfer process that will allow customers to transfer money to the mobiles of family and friends in Sri Lanka.

The company “WorldRemit” estimated that at least US $ 7 billion was sent back to Sri Lanka in 2014 by its diaspora, reports The Economic Times of India.

A senior mobile analyst at WorldRemit, Alex Murphy, said,

“We already offer mobile-to-mobile money transfers for countries as far flung as Ghana, Indonesia and Fiji.”

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