Rewire, the world’s first digital financial services platform for migrant workers, has signed a partnership agreement with valuable SIM card provider Lebara.
The collaboration will give Rewire access to Lebara’s UK customer base, the opportunity to accelerate its growth in the UK and the ability to expand further into the EU.
Effective today, Lebara customers in the UK will have access to Rewire-powered money transfer services and Rewire will provide Lebara-powered SIM cards to its customers. The exclusive partnership offers Lebara customers a £5 credit to their Rewire account, three fee-free money transfers and a preferential currency discount on their first payment.
It also opens the door in the future to a range of other services provided by Rewire that aim to promote the financial inclusion of migrants. In addition to 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 was selected as Lebara’s preferred financial provider following a competitive process. The fintech company impressed with its vision of a holistic migration package that includes communications and financial solutions, and its core value of having a positive social impact.
Guy Kashtan, co-founder and CEO of Rewire, says, “There is great synergy between Lebara and Rewire and our companies share a social purpose. This partnership supports our vision to shape a holistic migration agenda tailored to the unique cross-border needs of migrants around the world.
“Lebara is the go-to SIM provider for our target audience, and this is an unparalleled opportunity to open our services to the millions of migrants and value-seeking customers who rely on Lebara every day. And that makes perfect sense, because all of Rewire’s services are available in the palm of your hand, via the app,” continues Guy.
Ben Dowd, Lebara Group CCO, said: “We are delighted to partner with Rewire. This is a great opportunity to provide our customers with valuable financial services. Customers today 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.
Rewire is a global player in the cross-border financial services industry, serving the underbanked. By providing equitable access to financial services, society contributes to reducing global financial gaps and promoting financial inclusion.
The platform is a one-stop-shop that helps migrant workers manage their finances across borders. With financial obligations in more than one country, migrants often have to use four or five different institutions for their financial needs. Rewire simplifies this and does it in the user’s native language.