Financial Inclusion is an important step towards eradicating poverty and inequality, and remittances or money transfers are often the main source of income for inhabitants of emerging markets.
With a wide range of both traditional and new remittance companies, why is Bancore introducing yet another service?
Bancore wishes to eliminate the inequality aspect of money transfers, since the poorest people on the planet in 2018 on average paid 7.7% in transactional fees when receiving remittances from family abroad.
We at BancoRemit believe this can be improved, and eventually reduced to zero, by combining the money transfer with a range of relevant services – together offering an instant bank-like experience for all users.
Our solution is a combination of our award-winning prepaid card platform (VISA/Mastercard), our global banking network, and our ability to allow anybody instantly to send money to anyone in the world* by using the recipient’s mobile number – thereby delivering the best user experience in the market.
This is how simple it is:
- Download the App
- Sign up and receive your free VISA or Mastercard
- Add funds
- Enter amount and recipient’s mobile number
- And “swipe”
You don’t even have to worry whether the recipient is a user already – he or she will automatically get a Bancore account and a free VISA or Mastercard delivered to the screen of the handset.
BancoRemit is a licensed remittance company in Europe and Nigeria and offers the highest level of security for users by utilizing the award-winning PCI-compliant Bancore technology.
*Excluding VISA-restricted countries.