The multinational Lyca Group, owner of the world largest MVNO, Lycamobile, has entered the global digital remittance market with the relaunch of its international money transfer service, Lycaremit. The launch is a key part of the Lyca Group’s strategy to develop its full-service digital business, to meet the evolving needs of its growing customer base.
Lycaremit customers will be able to send money to over 50 countries around the world. To celebrate the relaunch, new customers will be able to make their first transaction absolutely free and will receive £10 account credit for doing so. In addition, when customers refer their friends, both earn £10 when the referred customer makes their first transfer.
The relaunch follows partnerships forged with Wari and Thunes, which saw Lycaremit’s services extend across the globe.
“We’ve built our business over the past decade by providing vital services to local communities around the world, from mobile to healthcare, entertainment to travel bookings. As our customers become increasingly digitally native, we see an opportunity to meet their demands for easy to use, cost-effective remittance. By relaunching Lycaremit we can provide a highly competitive service that all of our customers will benefit from,” said Subaskaran Allirajah, Lyca Group’s Founder and Chairman.
Navanit Narayan, Group CEO of Lyca Group said: “Lyca Group is on a journey to develop and deploy a unified, digitally enabled business that meets the evolving demands of an increasingly connected customer base. The relaunch of Lycaremit is the next step in this strategy, as we roll out value-added services that make it easier for our customers to stay connected with their friends and family, no matter where they are or their circumstances.”
With the remittance market estimated to reach $930.44 billion by 2026, the Lyca Group is confident that now is the right time to deliver a cross-platform, cost-effective solution for international money transfers.
Lycaremit is one of the latest business that Lyca Financial Services arm has launched. Earlier this year, the Company expanded its Lycainsurance product range to provide a broader spread of coverage for its customers, including home and life insurance.
