Remittance Processor Remitly Expands to Middle East

Following the expansion of its global footprint to include New Zealand and Japan​ in the second half of last year, US-based remittance processor Remitly Global, Inc. (Remitly) announced it has expanded into the Middle East with the launch of its outbound remittance product in the UAE. Furthermore, the company opened its first Dubai office in the Dubai International Financial Center (DIFC).

The new presence will enable Remitly to provide payment solutions to millions of immigrants in the UAE, helping them shorten remittance times, break operating hours constraints and reduce the risk of cash remittances.

Mohamed Mansour, Head of Region, UAE/MENA, at Remitly, said: "With one of the world's largest populations of immigrants and the second-highest global volume of remittance originations, the UAE was a natural choice for us as a market for expansion. Moreover, the country's advanced digitization and push towards a cashless economy makes Remitly's platform particularly relevant and well suited to the population here. I'm thrilled that this expansion will bring reliable international payments support for immigrants and their loved ones back home."

Since March 2020, Remitly has expanded its collaboration with Visa, including Visa Direct, Visa's real-time payment platform, in its range of payment options. Remitly customers can now use Visa Direct to send money from 28 countries/regions including the United States, the United Kingdom, Canada, and Singapore to bank accounts in more than 100 countries/regions.