MFS Africa – a digital Payments Network partnered with Access Bank in Nigeria in a bid to enhance Access Bank’s instant outbound Remittance to 400 Million Mobile Wallets

By Abdul Rahman Bangura-

Photo Credit: Foreignpolicy.com

NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone– The cooperation strives to broaden Access Africa’s remittances, which is a benefit that enables clients to transfer and receive money from anywhere in the world. The coalition will streamline transfers for Access Africa customers, decrease traction and render it inexpensive to send cross-border payments for personal or business motives.

Similarly, Access Africa clients will be apt to accept payments from MFS Africa’s partners all around the world.

The deal between MFS Africa and Access Bank is intended for at facilitating economic inclusion and curtailing borders’ importance for people and institutions in Africa. This pursues to enlarge Access Bank’s instant outbound remittance to potentially 400 million mobile wallets and over 130 links in more than 35 African nations, giving rise to it simpler for people and businesses to receive real-time payments from Nigeria.

According to reports, this will enhance convenience, promote trade, and benefit neighboring nations and beyond. MFS Africa announces, its fundamental goal has always been to furnish sustainable accessible financial services to boost Africa, and partnering with Access Bank correlates with this vision, according to Dare Okoudjou, CEO at MFS Africa.

IFAD noted that in 2021, migrant workers transmitted more than $95 billion to and within Africa, which boosted more than 200 million family members, most of whom reside in rural areas. Using MFS Africa’s hub, Access Bank can now send remittances and payments to MFS Africa’s network of over 400 million mobile money wallets and 200 million bank accounts across more than 35 African markets.

Commenting on the partnership with MFS Africa, Senior Banking Advisor, Retail, Access Bank, Robert Giles said, “This partner partnership on the existing cross-border payment infrastructure by Access Bank and would facilitate payments to more African corridors, increasing the number of countries we can send instant payments through Access Africa to. Our partnership with MFS Africa and access to hundreds of millions of people in the new markets will help our customers pay and be paid, facilitating greater economic inclusion through trade as well as helping families across borders. Critically this propels us closer towards being ‘Africa’s gateway to the world’ and democratizing access to payments through affordable, safe, and reliable platforms.”

For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent