13 December 2017
visit www.avoka.com

TerraPay partners MoneyTrans and Paga on Spain-Nigeria mobile remittances

16 February 2017  |  3245 views  |  0 Source: TerraPay

TerraPay, a mobile-first international payment network, today announced that it has partnered with MoneyTrans, a leading Money Transfer company established in Europe and Africa as well as Paga, Nigeria's pioneering payments and financial services company to launch cross-border remittances from Spain to mobile wallets in Nigeria.

Now Nigerians in Spain can send money to any mobile phone number in Nigeria through Paga, just by visiting the nearest MoneyTrans store. The recipient can withdraw money from more than 11,000 Paga agents across Nigeria or make card-less withdrawal from ATMs. The recipient can also use the money to pay bills, buy airtime or send the money to any other phone number or bank account in Nigeria, among other services.

The mobile based cross-border remittance service has been launched in Spain and will be followed by successive launches in Belgium, France and Italy in the coming weeks.

To mark this occasion, Mr. Jeremy De Smet, COO of MoneyTrans said, "We are glad to take another huge step in enabling mobile money services in Africa. TerraPay is well positioned to offer a strong solution building upon and leveraging a major technical infrastructure that has been in place for many years in Africa."

"Nigeria presents a wide array of opportunities for companies like TerraPay, as it is the biggest remittances receiver in Africa," said Ambar Sur, Founder and CEO of TerraPay. "This partnership with MoneyTrans and Paga will play a pivotal role in cross border remittances in Nigeria, helping to reduce fees, improve speed and provide convenience for users."

Commenting on the partnership Jay Alabraba, Co-founder Paga said, "We are happy to collaborate with TerraPay and MoneyTrans in enabling secure transfers between Spain and Nigeria, the first of several important remittance corridors we will be launching together. By combining Paga's extensive reach with the proven capabilities of TerraPay and MoneyTrans in the international remittance space, we are bringing to market a seamless and easy-to-use facility for Nigerians at home and in the disapora."

Nigeria is ranked sixth among the top remittance-receiving countries in the world. In 2015, the World Bank pegged remittances received in Nigeria at $21 billion. 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.aciworldwide.comvisit www.solutions.lexisnexis.comvisit www.response.ncr.com

Top topics

Most viewed Most shared
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
12124 views comments | 7 tweets | 7 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
9306 views comments | 16 tweets | 22 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
7893 views comments | 17 tweets | 35 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
7327 views comments | 8 tweets | 17 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
7161 views comments | 20 tweets | 11 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job