SureRemit is an ecosystem of merchants for global non-cash remittances powered by Stellar and the RMT token. SureRemit removes the complexities involved with money transfers. It is not a money transfer service.
The SureRemit Ecosystem is designed to address two major problems immigrants face when executing cross-border and local money transfers:
- The cost of remittances is punitively high. Transferring money via banks and traditional international money transfers operators could cost from 7-12% of the value transferred;
- Over 40% of remittances are intended for specific uses like food, clothing, medicine, school fees or utility bill payments. Senders (immigrants) want to ensure that their money is being utilized for its intended purpose.
The platform connects senders directly to the merchants that serve their recipients basic needs back home.
SureRemit leverages on the merchant network of SureGifts and other partner merchant aggregators globally, to enable immigrants send electronic vouchers that can be used to purchase goods and services at several quality merchants back home in a few easy steps.
SureRemit does not facilitate cash transfers, and the vouchers it retails can only be used within a closed (but extensive) network of merchants in the recipients’ country.
You can also use SureRemit to pay utility bills and send airtime to your loved ones directly.
How does SureRemit Work?
Here is a practical example of how you can send value to your loved ones in Africa using SureRemit:
Scenario: You want to send value for groceries to a family member in Nigeria.
- Download the app and register.
- Select “Send Voucher”.
- Select Nigeria (or the country of your choice) in the country option and Food in Category option from the dropdown.
- Enter value and pay with your RMT token.
Your recipient will instantly receive a voucher to their e-mail and/or phone that can be used (and reused) at your chosen merchant.