Asia Australasia Paytech

Remitly Services to Now Extend to the Far East of APAC

Remitly achieves key business milestones in the Asia-Pacific (APAC) region as it expands its global footprint to include Japan and New Zealand.

The company currently provides digital financial services for immigrants and their families in over 170 countries globally.

To date, it has processed $2.5billion in APAC remittance volume as demand for this type of service doubles down in the region.

Remittances sent from Japan have doubled since 2015 to $8.25billion in 2020, while personal remittances sent from New Zealand nearly quadrupled in two decades, totalling close to $875million in 2022.

The launch of the company’s latest APAC send corridors will enable its customers to send money across 150 corridors.

The process is completed through the company’s mobile-centric products and network, providing customers with various disbursement options to meet their specific needs.

Matt Oppenheimer, co-founder and CEO, of Remitly
Matt Oppenheimer, co-founder and CEO, Remitly

Matt Oppenheimer, co-founder and CEO, confirms the company’s intention to transform international payments.

“Helping customers send more than $2.5billion from the region to date is a testament not only to strong demand but also to the…customer experience Remitly provides, he comments.

“Remitly’s strategic approach to expansion leverages the significant payments infrastructure we’ve built over more than a decade,” adds Pankaj Sharma, the company’s executive VP of international.

While the footprint of the platform continues to grow to more than 3,200 corridors, service is localised to cultivate a ‘differentiated customer experience’; says the company’s official statement.

“Establishing business in Japan and New Zealand will open key corridors as we thoughtfully expand our platform to meet increasing customer demand for trusted financial services,” continues Sharma.

Remitly’s disbursement network extends to 3.9 billion bank accounts, 705 million mobile wallets, 410,000 cash pickup locations and offers home delivery in select locations.

Author

  • Tyler is a fintech journalist with specific interests in online banking and emerging AI technologies. He began his career writing with a plethora of national and international publications.

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