Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, reported witnessing more than 40% increase in mobile transactions from UAE residents to home countries since the beginning of March (and the Covid-19 outbreak). 

 

Over 110,000 online transactions were registered through the company’s mobile application. This spike is due to many residents practicing physical distancing and who are looking for means to send necessary funds to relatives on foreign shores, said the company.

 

Al Ansari Exchange has been an early adopter of digital platforms to provide customers the flexibility to make any transaction from any device whilst also ensuring the safety and security of their personal information. Following the outbreak of the Covid-19, the UAE Central Bank advised residents to favour contactless and mobile payments and take advantage of digital and online banking services to protect themselves from Covid-19.  

 

Rashed A Al Ansari, Chief Executive Officer, Al Ansari Exchange, said: “It is certainly a difficult time for all markets around the world where governments and companies are doing their best to implement measures to limit the impact of Covid-19. With the current circumstances, we understand that many people rely on us to collect their wages and send money home to their families urgently; hence, it is important to ensure we can continue serving the public effectively.

 

Thanks to our ongoing digital initiatives, we witnessed over 40% increase in mobile transactions and expect this trend to grow further. Currently, 7% of total remittances are being made through our mobile app.”

 

In order to comply with government regulations, Al Ansari Exchange has limited some branch operations however, most of them remain operational as it is the ultimate method to transfer money for those who prefer traditional methods. All branches that remain open for customers have implemented strict sanitisation measures to ensure customers can continue to send crucial remittance with safe, seamless and fast services and channels to support their loved ones abroad. – TradeArabia News Service