WorldRemit has launched a new service that will enable UK based companies to pay their employees and contractors in 150 countries worldwide, including African countries such as Kenya, Ghana, and South Africa. The new service, called WorldRemit for Business, will first be available to UK registered businesses.

The service will enable Kenyan entrepreneurs and contractors selling goods and services to small and medium-sized enterprises (SMEs) in the UK to receive payments faster.

Through the service, Kenyan entrepreneurs and contractors doing business with clients in the UK will be able to get payments within 24 hours. The entrepreneurs will be able to receive payments via bank account, mobile money or cash pick-up.

Ismail Ahmed, Founder and Executive Chairman at WorldRemit, comments: “When I first started WorldRemit, I was frustrated with the high charges and long delays in sending money abroad both as a business owner and consumer. Over the past 9 years, we’ve made it easier for 4 million people around the globe to send and receive money. Today, we’re pleased to extend that service offering to businesses, and put an end to the steep fees that many pay, especially when sending to Kenya. We’re committed to making it quick, safe and easy for you to pay individuals across borders, leaving you to focus on growing your own business.”

Shane Lennox, Senior Product Manager for Business, comments: “With more people moving and settling across borders, the nature of business is becoming increasingly global. This new product offering is catering for those in need of a digital service that solves a number of pain points faced by SMEs with international staff and contractors. This new product launch will enable millions of SMEs to benefit from our award-winning convenient service.”

WorldRemit customers complete over 1.4 million transfers every month from over 50 countries to 150 destinations using its app or website. Earlier this year, the company announced partnerships with NIC Bank, Safaricom, Co-op Bank, National Bank, Gulf African Bank to expand its partnership network.