Remittance Industry discusses Instant Cash Global Money Transfer

Muscat - 

Oman with its diversified economy and favourable working environment has always been one of the top destinations that has continued to attract employment seekers from across the world. This in turn means a hot remittance 'send' market.

In fact, outward remittances from the country as a fraction of total GDP are amongst the highest in the world.

Remittance to developing countries is expected to increase by 3.7 per cent in 2018 and Instant Cash Global Money Transfer, with their presence in over 100+ countries and 100,000+ agent locations, is geared up to support that growth.

Seeing the huge potential to be harnessed in Oman, Instant Cash has established a sturdy base in the region through tie ups with all the leading money exchanges.

The year 2017 was a milestone year and saw 160 per cent growth as compared to 2016. This three-digit growth percentage is expected to be maintained in 2018. The major corridors for global money transfer are Pakistan, Philippines, Bangladesh, India, the UAE, Africa, amongst others.

Philip Daniel, acting CEO, Instant Cash, said, “Instant Cash prides itself in adopting the latest when it comes to remittance based technologies.

“This is evident from our growth in Oman across all corridors and especially within the Asia/Africa segment where we are initiating more and more customers into using and adapting to the new age mobile wallet money transfer as compared to the traditional bank account transfer and cash payout methods.”

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