Rewire, the first digital financial services platform for migrant workers worldwide, has signed a partnership agreement with value SIM provider Lebara.
The collaboration will give Rewire access to Lebara’s UK customer base, the opportunity to fast-track its growth in the UK and the option to push further into the EU.
As of today, Lebara customers in the UK will have access to remittance services powered by Rewire and Rewire will provide SIM cards powered by Lebara to its customers. The exclusive partnership gives Lebara customers £5 credit on their Rewire account, three fee-free money transfers and a preferential FX discount on their first remittance.
It 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 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 communication and financial solutions, and with its core value of making 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 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,” continues Guy.
Ben Dowd, Lebara Group CCO, says: “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.”
Rewire is a global player in the cross-border financial services industry, serving the underbanked. By providing fair access to financial services, the company is helping narrow 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 need to use four or five different institutions for their financial needs. Rewire simplifies this and does it in the user’s native language.