WorldRemit, a UK-based digital money transfer firm, has launched its same day money transfer service in Brazil.

The new service will enable the firm’s customers to make money transfers from countries across the globe to all Brazilian bank accounts directly from their phones.

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Brazil has a diaspora of around two million people living in various countries including the US, Japan and Portugal. According to World Bank estimates, the country received over $2.6bn in remittances in the previous year.

The latest move is in line with WorldRemit’s strategy to serve 10 million customers connected to emerging markets by 2020 and comes shortly after the firm’s launch of its same day money transfer service in Ecuador.

The firm introduced its money transfer service in South America in 2014, with its customers currently accounting for over half a million remittances to the region annually.

The firm also appointed Gabriel Carvajalino as the new head of its South America business. Carvajalino is based in Colombia.

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“The volume of remittances sent to Brazil is enormous, but still largely cash based and inefficient. At WorldRemit we want to change this. I’m pleased that we can now offer our customers the ability to transfer money back to their family and friends within hours of tapping a button – regardless of where they are in the world,” Carvajalino stated.