Online remittance companies specialize in facilitating the transfer of funds across borders, allowing consumers and businesses to send money internationally with ease. These companies typically offer services such as direct bank transfers, cash pickups, and mobile payments, catering to the needs of expatriates and migrants. In recent years, the industry has seen a significant shift toward digital solutions, with many providers enhancing their online and mobile platforms. Moreover, as financial technology continues to evolve, remittance firms are leveraging innovation to improve customer experience and reduce costs, reflecting a growing demand for fast, secure, and convenient monetary transactions.

The online remittance sector features a range of companies, from established giants like MoneyGram and Ria Money Transfer to emerging firms such as TransferGo and Instarem. These businesses vary in size, with some employing thousands and others operating with a lean workforce. Founded between 1946 and 2019, they specialize in international money transfers and often operate from major urban centers worldwide. Many also focus on technology-driven solutions, integrating mobile apps and online platforms to enhance user experience while expanding their reach in global markets.

Read on to discover the top online remittance companies.

Top 21 Online Remittance Companies Companies

1. MoneyGram

• Website: moneygram.com
• Ownership type: Corporate
• Headquarters: Dallas, Texas, United States (USA)
• Employee distribution: United States (USA) 35%, Poland 26%, India 9%, Other 31%
• Latest funding: August 2023
• Founded year: 1940
• Headcount: 1001-5000
• LinkedIn: moneygram-international

MoneyGram International, Inc. is a prominent money transfer service headquartered in Dallas, Texas. Founded in 1940, the company has built a robust infrastructure that allows individuals and businesses to send and receive money securely and conveniently. MoneyGram operates a vast network of over 350,000 locations worldwide, making it accessible to a wide range of customers. The company offers various services, including peer-to-peer money transfers, bill payments, and money orders. In recent years, MoneyGram has enhanced its digital presence, providing online and mobile solutions that cater to the growing demand for convenient remittance options. This adaptability is crucial in a competitive market where consumers increasingly prefer digital transactions. MoneyGram's services are designed to meet the needs of both consumers and businesses, ensuring that it remains a relevant player in the money transfer industry.

2. Al Ansari Exchange

• Website: alansariexchange.com
• Ownership type: Private
• Headquarters: Dubai, Dubai, United Arab Emirates (UAE)
• Employee distribution: United Arab Emirates 98%, Other 2%
• Founded year: 1966
• Headcount: 1001-5000
• LinkedIn: al-ansari-exchange

Al Ansari Exchange is a financial services company based in Dubai, UAE, specializing in money transfer and foreign exchange services. Founded in 1966, it has grown to operate over 260 branches throughout the UAE, catering to both individual and corporate clients. The company offers a range of services, including online money transfers, foreign exchange, and prepaid cards, alongside value-added services like bill payments and payroll solutions. Al Ansari Exchange has developed a mobile app that enhances customer convenience, allowing users to send money online anytime and anywhere. With a workforce of over 4,000 employees, the company serves more than 3 million customers each month, reflecting its significant presence in the remittance sector. Al Ansari Exchange is licensed and regulated by the Central Bank of the UAE, ensuring compliance with financial regulations and fostering trust among its clientele.

3. Mukuru

• Website: mukuru.com
• Ownership type: Private
• Headquarters: Cape Town, Western Cape, South Africa
• Employee distribution: South Africa 72%, Zimbabwe 13%, Malawi 3%, Other 12%
• Founded year: 2004
• Headcount: 5001-10000
• LinkedIn: mukuru

Mukuru, founded in 2004 and based in Cape Town, South Africa, is a private financial services provider that specializes in money transfers and remittances. The company primarily serves South African expatriates who need efficient and reliable ways to send money back home. Mukuru offers a variety of services, including direct money transfers to multiple countries, the Mukuru Card for cashless transactions, and funeral cover options. With a workforce of over 2,000 employees, Mukuru has a strong presence in the remittance market, particularly in Southern Africa. The company emphasizes transparency in its fee structure and provides competitive exchange rates, making it a preferred choice for many customers. Mukuru's commitment to customer support and security further enhances its reputation in the financial services sector.

4. WorldRemit

• Website: worldremit.com
• Ownership type: Venture Capital
• Headquarters: London, England, United Kingdom (UK)
• Employee distribution: United Kingdom (UK) 38%, Philippines 29%, Poland 15%, Other 18%
• Latest funding: Other (Debt), $275.0M, January 2021
• Founded year: 2010
• Headcount: 1001-5000
• LinkedIn: worldremit

WorldRemit is a financial technology company based in London, UK, specializing in international money transfers. Established in 2010, it has grown to serve over 8 million customers worldwide. The company provides various transfer methods, including bank transfers, cash pickups, mobile money, and airtime top-ups, allowing users to send money quickly and securely across borders. WorldRemit operates through a user-friendly online platform and mobile app, ensuring a seamless experience for its customers. The company is licensed and regulated by financial authorities in multiple jurisdictions, which underscores its commitment to security and compliance. In January 2021, WorldRemit raised $275 million in funding, further solidifying its position in the market and enabling continued expansion of its services.

5. Ria Money Transfer

• Website: riamoneytransfer.com
• Ownership type: Corporate
• Headquarters: Buena Park, California, United States (USA)
• Employee distribution: United States (USA) 19%, Spain 18%, Mexico 10%, Other 53%
• Latest funding: $380.0M, November 2006
• Founded year: 1987
• Headcount: 1001-5000
• LinkedIn: ria-financial

Ria Money Transfer, headquartered in Buena Park, California, is a prominent player in the international remittance industry. Established in 1987, Ria has grown from a single store in New York City to a global network of over 507,000 locations in 190 countries. The company specializes in facilitating international money transfers, allowing customers to send funds quickly and affordably. Ria offers a range of services, including bill payments, mobile top-ups, and prepaid debit cards, catering to the needs of individual consumers. In 2007, Ria was acquired by Euronet Worldwide, which has further strengthened its operational capabilities. The company has embraced technology by launching an online platform and a mobile app, making it easier for users to send money anytime, anywhere. Ria's commitment to customer satisfaction is evident in its user-friendly services and extensive support options.

6. AirPak

• Website: airpak.com
• Ownership type: Private
• Headquarters: Managua, Managua, Nicaragua
• Employee distribution: Nicaragua 61%, Costa Rica 15%, Mexico 10%, Other 14%
• Founded year: 1946
• Headcount: 5001-10000
• LinkedIn: airpak

AirPak, founded in 1946 and based in Managua, Nicaragua, is a private company that specializes in money transfer services and financial solutions in Central America. With a workforce of approximately 4,447 employees, AirPak has established itself as a key player in the remittance market, particularly through its exclusive representation of Western Union in the region for over 30 years. The company operates a vast network of over 8,000 points of service across Central America and Mexico, facilitating millions of transactions annually. AirPak also offers the CashPak wallet, which allows users to make payments and top-up mobile services, enhancing their service offerings. Their commitment to secure and efficient money transfers positions them as a reliable option for consumers in need of remittance services.

7. Al Mulla Exchange

• Website: almullaexchange.com
• Ownership type: Private
• Headquarters: Kuwait City, Al Asimah Governate, Kuwait
• Employee distribution: Kuwait 84%, India 16%
• Founded year: 2001
• Headcount: 501-1000
• LinkedIn: al-mulla-exchange

Al Mulla International Exchange Company K.S.C.C. is a financial services provider located in Kuwait City, specializing in remittance and foreign exchange services. Established in 2001, the company has grown to operate 107 branches and 63 self-service kiosks across Kuwait. Al Mulla Exchange offers a range of services, including money transfers, currency exchange, and complimentary insurance coverage for customers. The company primarily serves individuals and families who need to send money internationally, focusing on markets in MENA, Europe, the USA, Canada, and Asia. Al Mulla Exchange has also made strides in digital innovation, launching a mobile app and online remittance services, which have been recognized in Forbes Middle East's rankings. Their recent collaboration with Visa enhances their remittance capabilities, allowing customers to transfer funds securely to Visa cardholders in 34 countries. This strategic move reflects their ongoing efforts to expand their global reach and improve service delivery.

8. Unimoni, India - A Wizz Financial Group

• Website: unimoni.in
• Ownership type: Corporate
• Headquarters: India
• Employee distribution: India 94%, Qatar 2%, United Arab Emirates 2%, Other 1%
• Latest funding: November 2023
• Founded year: 1999
• Headcount: 1001-5000
• LinkedIn: unimoni-financial-services-limited

Unimoni, India - A Wizz Financial Group is a financial services company that has been active since 1999. It specializes in remittance, foreign exchange, and payment solutions, providing a comprehensive suite of services to its customers. These services include international money transfers, currency exchange, and various loan options tailored for individuals and families. Unimoni operates through a robust network of over 300 branches across India, complemented by an online platform that allows for efficient and secure transactions. The company has built a reputation for reliability, having processed billions in transactions, which reflects its significant role in the remittance industry. Unimoni also emphasizes customer service, aiming to provide a seamless experience for users looking to send money abroad or manage their foreign currency needs.

9. Transfast, a Mastercard Company

• Website: transfast.com
• Ownership type: Private
• Headquarters: New York, New York, United States (USA)
• Employee distribution: India 36%, Philippines 14%, Mexico 13%, Other 36%
• Latest funding: March 2017
• Founded year: 1988
• Headcount: 501-1000
• LinkedIn: transfast

Transfast, a Mastercard Company, is a financial services provider based in New York, specializing in international money transfers and cross-border payments. Founded in 1988, the company has established itself as a reliable option for remittance services, catering to both consumers and businesses. Transfast offers a cost-effective solution for sending money across borders, leveraging a direct-to-bank network and a wide array of cash payout points worldwide. With a significant employee presence in countries like India, the Philippines, and Mexico, Transfast demonstrates its commitment to serving diverse markets and facilitating efficient transactions. The company's affiliation with Mastercard further enhances its credibility in the financial services industry, ensuring a robust platform for users seeking reliable remittance options.

10. Xoom, A PayPal Service

• Website: xoom.com
• Ownership type: Corporate
• Headquarters: San Francisco, California, United States (USA)
• Employee distribution: Guatemala 69%, United States (USA) 22%, Philippines 6%, Other 4%
• Latest funding: $890.0M, July 2015
• Founded year: 2001
• Headcount: 201-500
• LinkedIn: xoom-corporation

Xoom, a PayPal Service, is a financial service provider based in San Francisco, California, founded in 2001. The company focuses on facilitating international money transfers, mobile reloading, and bill payment services. Xoom allows customers to send money quickly and securely to over 160 countries, making it a vital tool for individuals managing financial transactions across borders. The platform offers various options for sending money, including cash for pickup, direct bank deposits, and mobile wallet transfers. Xoom's operations are particularly strong in regions with significant remittance flows, such as Guatemala and the Philippines, where a large portion of its workforce is located. The company has received substantial funding, totaling $890 million, which underscores its growth potential and market relevance. Xoom's integration with PayPal enhances its credibility and security, making it a trusted choice for users in need of remittance services.

11. Pangea Money Transfer

• Website: pangeamoneytransfer.com
• Ownership type: Corporate
• Headquarters: Chicago, Illinois, United States (USA)
• Employee distribution: United States (USA) 65%, Mexico 35%
• Latest funding: March 2021
• Founded year: 2012
• Headcount: 51-200
• LinkedIn: pangea-payments

Pangea Money Transfer, established in 2012 and based in Chicago, Illinois, is a money transfer service that specializes in facilitating international remittances. The company primarily serves individuals who need to send money to family members in various countries, with a strong focus on markets such as Mexico and the Philippines. Pangea offers multiple transfer methods, including cash pick-up and direct bank deposits, ensuring that recipients have flexible options for receiving funds. The company prides itself on the security and speed of its transactions, aiming to deliver funds quickly and reliably. With a workforce of around 66 employees, Pangea has built a reputation for excellent customer service, as evidenced by positive reviews on platforms like Trustpilot. The company operates in 24 countries, providing access to over 40,000 cash pick-up locations, which enhances its service offering. Pangea's commitment to making money transfers simple and efficient positions it as a relevant player in the online remittance industry.

12. SuperGIROS

• Website: supergiros.com.co
• Ownership type: Private
• Headquarters: Cali, Valle Del Cauca, Colombia
• Employee distribution: Colombia 99%
• Founded year: 2006
• Headcount: 10001+
• LinkedIn: supergiros

SuperGIROS, founded in 2006 and based in Cali, Valle Del Cauca, Colombia, is a private financial services provider that specializes in money transfer and remittance services. The company offers a range of services including national and international remittances, payment services, and electronic ticketing. With a workforce of over 2,900 employees, SuperGIROS has built a robust infrastructure to support its operations. The company serves both individuals and businesses, providing secure and efficient methods for sending and receiving money. SuperGIROS has developed a significant presence in the Colombian market, boasting a network of more than 20,000 service points, which facilitates easy access for customers. Their commitment to quality service and user protection is evident in their operational policies and customer support initiatives.

13. bKash Limited

• Website: bkash.com
• Ownership type: Venture Capital
• Headquarters: Dhaka, Dhaka, Bangladesh
• Employee distribution: Bangladesh 100%
• Latest funding: November 2021
• Founded year: 2010
• Headcount: 501-1000
• LinkedIn: bkash-limited

bKash Limited, founded in 2010 and based in Dhaka, Bangladesh, is a mobile financial service provider that offers a wide array of services, including money transfers, payments, and remittances. With a workforce of approximately 4641 employees, bKash focuses on providing accessible financial solutions, particularly to individuals and businesses in rural areas. The company operates through a mobile app and a USSD platform, ensuring that users can conduct transactions even without internet access. bKash has become a crucial channel for expatriate Bangladeshis to send money home, allowing recipients to cash out at various ATMs across the country. The company has also received recognition for its contributions to the financial sector, being named the country's best and most loved brand multiple times. Its commitment to innovation and customer service has solidified its position in the market.

14. Efecty

• Website: efecty.com.co
• Ownership type: Private
• Headquarters: Bogota, Bogota, Colombia
• Employee distribution: Colombia 100%
• Founded year: 1996
• Headcount: 10001+
• LinkedIn: efecty

Efecty, founded in 1996 and based in Bogotá, Colombia, is a private financial service provider that specializes in money transfer and payment solutions. The company has built a strong reputation for facilitating both national and international remittances, catering to the needs of consumers and businesses alike. Efecty operates through an extensive network of service points, ensuring that customers have convenient access to their services. In addition to remittances, Efecty offers various payment services and recharge options, which further enhance its offerings in the financial sector. The company has a significant workforce, with over 10,000 employees dedicated to providing reliable financial services to its clientele. Efecty continues to play a vital role in the Colombian market, contributing to the financial inclusion of many individuals and businesses.

15. Orient Exchange Co. (L.L.C)

• Website: orientexchange.com
• Ownership type: Private
• Headquarters: Dubai, Dubai, United Arab Emirates (UAE)
• Employee distribution: United Arab Emirates 88%, India 10%, Other 2%
• Founded year: 1923
• Headcount: 201-500
• LinkedIn: orient-exchange-co.-l.l.c-

Orient Exchange Co. (L.L.C) is a financial services firm based in Dubai, UAE, with a history dating back to 1923. The company specializes in remittance, currency exchange, and payment processing, serving both individual consumers and businesses. With a workforce of approximately 329 employees, Orient Exchange operates through a network of branches across the UAE, facilitating fast and secure financial transactions. They offer a range of services, including electronic fund transfers, specialized remittance services to India and the Philippines, and partnerships with major financial institutions. Their role as an authorized agent for Western Union further enhances their service offerings, making them a key player in the remittance market.

16. TransferGo

• Website: transfergo.com
• Ownership type: Venture Capital
• Headquarters: London, England, United Kingdom (UK)
• Employee distribution: Lithuania 50%, Poland 27%, United Kingdom (UK) 16%, Other 6%
• Latest funding: $10.0M, April 2024
• Founded year: 2012
• Headcount: 201-500
• LinkedIn: transfergo

TransferGo is a financial service provider based in London, UK, specializing in international money transfers. Established in 2012, the company has grown to serve over 7 million customers, primarily targeting individuals who need to send money across borders, particularly migrants sending funds to their families. TransferGo offers a user-friendly mobile app that facilitates quick and affordable transfers to more than 160 countries. The company prides itself on its low fees, often claiming to be significantly cheaper than traditional bank transfers. TransferGo is regulated by both EU and UK authorities, ensuring secure transactions and compliance with financial regulations. The company has also attracted venture capital funding, with its latest round raising £10 million in April 2024, indicating ongoing investor confidence in its business model and growth potential.

17. Remit Choice Limited

• Website: remitchoice.com
• Ownership type: Private
• Headquarters: Sheffield, England, United Kingdom (UK)
• Employee distribution: Pakistan 65%, United Kingdom (UK) 33%, Other 2%
• Founded year: 2019
• Headcount: 201-500
• LinkedIn: remit-choice-ltd

Remit Choice Limited, based in Sheffield, England, is a financial service provider that specializes in digital money transfers. Established in 2019, the company focuses on delivering secure and cost-effective remittance solutions to individuals, particularly expatriates who require reliable methods to send money internationally. Their services include bank transfers, cash pickups, and mobile wallet options, catering to a wide range of destinations across the globe. With a workforce that is predominantly based in Pakistan and the UK, Remit Choice aims to address the growing demand for remittance services by offering competitive exchange rates and no hidden fees. The company is authorized and regulated to conduct money transmission in multiple countries, ensuring compliance and security for its users. Their mobile app enhances user experience by allowing customers to manage transactions conveniently from their smartphones, reflecting their commitment to innovation in the financial services sector.

18. Instarem.

• Website: instarem.com
• Ownership type: Venture Capital
• Headquarters: Singapore
• Latest funding: $41.0M, March 2019
• Founded year: 2014
• Headcount: 201-500
• LinkedIn: instaremit

Instarem is a financial technology firm based in Singapore, founded in 2014. The company focuses on international money transfers and currency exchange, catering to both individual and business clients. Instarem's platform is designed for efficiency, allowing users to send money abroad swiftly and at competitive rates. Customers benefit from features such as transparent pricing, a rewards program known as InstaPoints, and the ability to track transactions in real-time. The company has expanded its services to over 60 countries, making it a significant player in the remittance market. Instarem has also secured substantial funding, with its last round raising $41 million in March 2019, which underscores its growth trajectory and commitment to enhancing its offerings in the financial technology sector.

19. Modern Exchange

• Website: modernexchange.com
• Ownership type: Private
• Headquarters: Muscat, Muscat Governorate, Oman
• Employee distribution: Oman 90%, Bahrain 7%, United Arab Emirates 3%
• Founded year: 1993
• Headcount: 201-500
• LinkedIn: modern-exchange-co-llc

Modern Exchange Co L.L.C, founded in 1993 and based in Muscat, Oman, is a financial services provider that specializes in remittance and currency exchange. The company has built a reputation for offering fast and reliable money transfer solutions to both individuals and businesses. With a workforce of approximately 91 employees, Modern Exchange operates a network of branches across Oman, complemented by self-service kiosks and a mobile app that allows customers to remit money conveniently. They have made significant strides in the remittance industry, being one of the first to introduce self-service kiosks and a mobile remittance app in Oman. The company is regulated by the Central Bank of Oman and is part of the Al Mulla Group, which has further strengthened its operational capabilities. Modern Exchange also provides free life insurance coverage to its customers, showcasing a commitment to customer care and community engagement.

20. Grupo Vimenca

• Website: vimenca.com
• Ownership type: Private
• Headquarters: Santo Domingo, Distrito Nacional, Dominican Republic
• Employee distribution: Dominican Republic 100%
• Founded year: 1950
• Headcount: 1001-5000
• LinkedIn: grupovimenca

Grupo Vimenca, officially known as Agente de Remesas y Cambio Vimenca S. A., is a financial services company based in Santo Domingo, Dominican Republic. Established in 1950, the company specializes in money transfer and currency exchange services. It offers a variety of solutions, including domestic and international money transfers, remittance payments, and currency buying and selling. With a network of over 300 offices across the Dominican Republic and a partnership with Western Union, Grupo Vimenca has positioned itself as a key player in the remittance market. Their services are designed to meet the needs of individuals seeking secure and efficient ways to send and receive money. The company has a strong focus on customer satisfaction and aims to improve the quality of life for its consumers through its financial services.

21. ACE Money Transfer

• Website: acemoneytransfer.com
• Ownership type: Private
• Headquarters: United States (USA)
• Employee distribution: Pakistan 70%, United Kingdom (UK) 24%, Other 6%
• Latest funding: $1.9M, October 2020
• Founded year: 2002
• Headcount: 201-500
• LinkedIn: acemoneytransfer

ACE Money Transfer is a financial services company that specializes in international money transfers. Established in 2002, it has grown to serve a global customer base, facilitating transactions to over 100 countries. The company prides itself on providing a user-friendly platform that ensures secure and timely transfers. With a strong emphasis on customer satisfaction, ACE Money Transfer offers support through its mobile app and online services. The company is recognized and regulated as an Authorized Payment Institution by the Financial Conduct Authority (FCA) in the UK, AUSTRAC in Australia, and FINTRAC in Canada. This regulatory oversight enhances its credibility in the financial services industry. ACE Money Transfer has also received funding, amounting to $1,905,000 in October 2020, which reflects investor confidence in its operations and growth trajectory. With a workforce of around 392 employees, the company operates offices in key locations including the UK, Europe, Australia, Pakistan, and Bangladesh, and boasts a network of over 350,000 payout locations worldwide.

Online Remittance Companies Insights: Key Companies

Company	Headquarter	Size	Founded	Ownership
MoneyGram	Dallas, Texas, United States (USA)	1001-5000	1940	Corporate
Al Ansari Exchange	Dubai, Dubai, United Arab Emirates (UAE)	1001-5000	1966	Private
Mukuru	Cape Town, Western Cape, South Africa	5001-10000	2004	Private
WorldRemit	London, England, United Kingdom (UK)	1001-5000	2010	Venture Capital
Ria Money Transfer	Buena Park, California, United States (USA)	1001-5000	1987	Corporate
AirPak	Managua, Managua, Nicaragua	5001-10000	1946	Private
Al Mulla Exchange	Kuwait City, Al Asimah Governate, Kuwait	501-1000	2001	Private
Unimoni, India - A Wizz Financial Group	India	1001-5000	1999	Corporate
Transfast, a Mastercard Company	New York, New York, United States (USA)	501-1000	1988	Private
Xoom, A PayPal Service	San Francisco, California, United States (USA)	201-500	2001	Corporate
Pangea Money Transfer	Chicago, Illinois, United States (USA)	51-200	2012	Corporate
SuperGIROS	Cali, Valle Del Cauca, Colombia	10001+	2006	Private
bKash Limited	Dhaka, Dhaka, Bangladesh	501-1000	2010	Venture Capital
Efecty	Bogota, Bogota, Colombia	10001+	1996	Private
Orient Exchange Co. (L.L.C)	Dubai, Dubai, United Arab Emirates (UAE)	201-500	1923	Private
TransferGo	London, England, United Kingdom (UK)	201-500	2012	Venture Capital
Remit Choice Limited	Sheffield, England, United Kingdom (UK)	201-500	2019	Private
Instarem.	Singapore	201-500	2014	Venture Capital
Modern Exchange	Muscat, Muscat Governorate, Oman	201-500	1993	Private
Grupo Vimenca	Santo Domingo, Distrito Nacional, Dominican Republic	1001-5000	1950	Private
ACE Money Transfer	United States (USA)	201-500	2002	Private

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