Zeepay And MoneyGram Launch Account Deposit Service in Nigeria
2 min read
Zeepay, the fastest-growing cross-border fintech in Africa, and MoneyGram International, a leading global financial technology company, have jointly announced the introduction of a groundbreaking Account Deposit service for consumers in Nigeria. This innovative service, a first of its kind in Nigeria, allows recipients of remittances to transfer funds directly into their bank accounts from virtually any country worldwide.
In this significant collaboration, Zeepay and MoneyGram are revolutionizing the remittance experience in Nigeria as consumer preferences shift towards online platforms. Beneficiaries now have the convenience and security of receiving funds directly into their bank accounts, providing multiple options for accessing remittances through channels such as ATMs, point-of-sale devices, and bank counters.
MoneyGram’s extensive 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 to the Caribbean.
Nigeria, as the second-largest recipient of remittances in Africa according to a recent World Bank report, benefits from funds sent to address various challenges like food insecurity, supply chain disruptions, and the aftermath of natural disasters.
Dede Quarshie, Commercial Head at Zeepay, expresses enthusiasm about the innovative service, stating, “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.
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