Digital money transfer service WorldRemit and Millicom subsidiary Tigo Money to establish remittance routes to Guatemala and El Salvador. Expats can send money home, directly from the WorldRemit app.
Tigo is the dominant player in those countries. One Tigo Money transaction occurs every second in El Salvador while its market share in Guatemala is 92 per cent.
El Salvador’s annual remittance total is $4.1 billion while Guatemala’s is $7.1 billion. Most of those sums originate in Canada and the United States.
“The Alliance with WorldRemit is one of our first 100% digital alliances,” Millicom director of mobile financial services Ronald Alvarenga said. “It responds to our focus of placing our customers in the center of all our services, providing the best customer experience they can get through their mobile phones.”
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