Intra-African cross-border remittances and digital wallet company EziPay has partnered with digital payments gateway MFS Africa to bring last-mile connectivity for remittances and collections to and from mobile money wallets and bank accounts in Africa.
As the companies point out, the partnership comes at a time when mobile money is burgeoning at increasing rates on the continent, with businesses and individuals alike requiring solutions that allow them to transact across regions.
EziPay, which has a presence in 14 African countries, currently has a global user base of over 300,000, including Africans in the diaspora as well as those in the local expat community who utilise EziPay’s digital wallets for inward and outward remittances. Ezipay’s USD Global wallet enables inward and outward remittances with payouts in more than 90 countries.
MFS Africa’s full-service digital payments network connects over 400 million mobile money wallets, over 200 million bank accounts, and over 120,000 agents in Nigeria.
Amit Gaur, Co-Founder and CEO at EziPay, says, "With EziPay and MFS Africa joining hands to solve cross-continent remittances to Africa from Asia, Europe, the UK and the USA, remittances for goods, services, school fees, medical transfers, business transfers, family maintenance allowances, and P2P transfers will be enabled."
Dare Okoudjou, Founder and CEO at MFS Africa, adds: “Partnering with EziPay, an organisation that is known for providing digital wallets for inward and outward remittance to MSMEs, SMEs and individuals across continents, made complete sense to further enable the interoperability we aim to achieve through our acquisitions and partnerships.”
The African remittance market has attracted a lot of attention in recent years, not too surprisingly, given the vast amounts of money involved. Recent examples reported in these pages include an initiative targeting monthly remittance flows from South Africa to Zimbabwe, a new app targeting Ugandan remittances, and a partnership between NALA, a Tanzania-based fintech company and pan-African payments company Cellulant.