WorldRemit; Internationally moving money into the future

BY MICHAEL THOMAS

WorldRemit is a money transfer powerhouse that branches worldwide and employs people between Ottawa and Toronto. The company has been around for a decade now and despite the COVID-19 jailhouse atmosphere, it is up and running online in a big way.

Corey Myckan is the Country Director for WorldRemit in Canada and is based in Toronto. Myckan, who has a wealth of experience under his belt, has worked for many financial institutions from Mastercard to American Express and more.

Toronto Caribbean Newspaper spoke with Myckan about the inner workings of this company in these globally crucial economic times.

Myckan was asked how the COVID-19 incarceration has affected his line of business? To which he answered, “None of my employees including myself are working from an office today, I am working from home as well and we have not had to let go of anyone or reduce their hours.”

“We are seeing,” he said, “less cash pickup in Jamaica and more bank to bank transactions because of the reduced location hours and closures. In our business, there is an increase in money transfer into client’s bank accounts because they don’t have to leave their homes for this. It’s all from an app which over 4,000,000 use globally or online at our website.”

Myckan said his company is encouraging clients to use what is known as mobile money, which is a big thing in countries like Africa. This can help to promote social distancing in these times.

He told Toronto Caribbean Newspaper, “We are a bit of a pioneer in the move from offline to digital transfers. COVID-19 has put us and everyone else in a situation where it is just not convenient to send money as easy as it was in the offline world. That has led to an increase in our sign-ups, activation and our transactions from Canada to the rest of the world.”

The Country’s Director of World Remit in Canada told Toronto Caribbean Newspaper that in five-years-time he envisions his company moving to complete digital operation, “The longer that social distancing happens,” he said, “the more I think people will move to a digital solution, whether it be ours, or somebody’s else’s.”

When asked about the concerns some folks might have about the safety of online money transactions, Myckan answered, “I think from our point of view, we are a very regulated industry and personal privacy is of the utmost importance to us in this business and we take this very seriously.”

“We have good rates that depends on which corridor of the world you are sending money to. We also have a bonus promotion for newcomers to WorldRemit called (Three Free) which means that your first three transactions are free,”

Toronto Caribbean Newspaper also spoke briefly with Claudia Formiga, Public Relations Manager for America’s WorldRemit who ensured us that the company’s main objective is to be there for their client’s needs, especially in these tough times.

More information on this company can be found at WorldRemit.com (https://www.worldremit.com/)