The Shoprite cross-border money remittance product reached very high numbers in January’s last report, it is around 70 million USD since this service was implemented in SA and Lesotho three years ago. The money transfer service is expected to be the cheapest on the contrary Due to the fact That’s it takes Only 2% of the total amount of the transferred money as a fee.
The service is used by those who usually live far from their families and contribute by sending them regularly a specific amount of money. This service eases the operation of the remittance operation, by allowing customers to send their money directly to their destination where the customer contacts any Shoprite store and transfers the money and the receiver from the other side can take out the money from any Shorite store. The whole process takes 2% of the total transferred amount. The service is available in South Africa, Zimbabwe, Mozambique and Lesotho.
A remittance is when a person sends money, usually small amounts, across a border to friends and family living in another country.