Shaazim Khamissa

  • Current company Hello Paisa
  • Country South Africa
  • Industry Financial Services

Traditional remittance solution providers charge a fee of 10%-20% on each transaction and the funds often take several days to reach the recipient. Therefore migrants regularly turn to the informal economy and hire couriers to transport cash across borders. Hello Paisa provides an international remittance solution that allows low-income migrants to send money to their families from their cell phones at a fraction of the time and cost. The World Bank projects the flow of remittances into the developing world to reach US$459 billion by 2016, with US$55 billion of that to Africa alone. Hello Paisa has gained 200,000+ active users and 55,000 mobile app downloads in its first 18 months of operation.

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