Zeepay, Africa's fastest-growing cross-border
fintech, and MoneyGram International Inc (MoneyGram), a leading global
financial technology company that connects the world's communities, have
announced the launch of a pioneering Account Deposit service for consumers in
Nigeria. This innovative service, a first in the Nigerian market, enables
remittance receivers to directly transfer funds into bank accounts from just
about every country in the world.
In
this landmark partnership, Zeepay and MoneyGram introduce a service that
revolutionizes the remittance experience in Nigeria. As consumer preference shifts
online, beneficiaries can now conveniently and securely receive funds directly
into their bank accounts. This service provides consumers with several options
to receive remittances, as funds are readily accessible through various
channels, including ATMs, point-of-sale devices and bank counters.
MoneyGram's
vast global network, spanning over 200 countries and territories and serving
over 50 million people annually, complements Zeepay's dominant position in
cross-border payments across Africa, extending even to the Caribbean.
According
to a recent report by the World Bank1, Nigeria was the second
largest recipient of remittances in Africa, and remittances are being sent to
the country to help alleviate food insecurity, supply chain disruptions,
aftermath of floods and other natural disasters, and more.
Dede
Quarshie, Commercial Head at Zeepay, comments, "We are thrilled to introduce this innovative service to consumers
in Nigeria, a market that truly relies on inbound remittances. This launch is a
significant step in improving last-mile access and addressing security concerns
for remittance receivers. With our account deposit service, beneficiaries in
Nigeria can now access their funds around the clock, whether through ATMs,
point-of-sale devices, or counter services." The service is now live
and available for consumer use in Nigeria.
By:
Nana Appiah Acquaye