Remittances

ZymPay does it better

Today, around the world, migrants and ex-pats of all nations send over £340 billion* home to family and friends, outstripping the combined global aid budgets by more than three times. In fact this is only recorded data provided by banks. The real figure may be twice as large when money transferred outside of banking systems is taken into account.

These huge corridors of money attract money transfer businesses who may take more than 20% in fees and foreign exchange. There may be further fees for recipients and then there’s the hidden costs of lost wages travelling to cities and hours of queuing and form-filling at cashier windows.

We’re working at 1st Objective to build a brand for ZymPay to introduce them as a muscular new player in the money transfer market.

We’re proud to be stakeholders in this business. It’s our way of making a difference for the underprivileged diasporas working abroad sending money to aid their home nations.

*Source: World Bank 2012

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