Driving significant uplift in remittance transactions

CONTEXT

Migrants send money home regularly, but shocks often disrupt this MFSA, a digital payment gateway providing remittance services, wanted to improve the resilience of remittance senders.

THE OBJECTIVE

  • Improve the resilience of remittance senders
  • Strengthen MFSA’s core business by increasing remittance transaction values and volumes

THE SOLUTION

A hospital cash insurance product was embedded into remittance transactions, free of charge to customers.

THE RESULTS

19.7%
Improvement in Transaction
Value

109%
Increase in New Customers

38.3%
Reduction in Time Between Remittance Transactions