Digital financial services platform for migrants Rewire has signed a partnership agreement with SIM provider Lebara.
According to Rewire, the collaboration will give it access to Lebara’s UK customer base, the opportunity to fast-track its growth in the UK with the option to push further into the EU.
Through the partnership, Lebara’s UK customers will have access to remittance services powered by Rewire and Rewire will provide SIM cards powered by Lebara to its customers. In addition, Lebara customers will get £5 credit on their Reqire account, three fee-free money transfers and a preferential FX discount on their first remittance.
Rewire added that the deal also opens the door in the future to a range of other services provided by Rewire that aim to promote financial inclusion for migrants. As well as money transfers, the financial services platform offers debit cards, IBAN, insurance and the ability to make cross-border bill payments. The deal also paves the way for Rewire’s European expansion, when Lebara rolls out the service to the rest of its European customers later this year.
Rewire co-founder and CEO Guy Kashtan said, “There is great synergy between Lebara and Rewire and our companies share a social purpose. This partnership supports our vision of shaping a holistic migration package tailored to the unique cross-border needs of migrants worldwide.
“Lebara is the go-to SIM provider for our target audience, and this is an unrivalled opportunity to open up our services to the millions of migrants and value-seeking customers that rely on Lebara every day. And it makes perfect sense, as all Rewire’s services are available in the palm of your hand, through the app.
Lebara CCO Ben Dowd added, “We’re delighted to be partnering with Rewire. It’s a great opportunity to provide our customers with valuable financial services. Today’s customers are increasingly looking to manage their finances through their phone and by working with Rewire, we can continue to add value and great choice for our customers.”
Copyright © 2022 FinTech Global
