Business News
WorldRemit expands presence in Nigeria with Access Bank partnership
WorldRemit partners Access Bank.
WorldRemit has expanded its presence in Nigeria, having announced its new partnership with one of Nigeria’s leading financial institution, Access Bank Plc.
In a statement, the digital money transfer service disclosed the partnership that will enable instant money transfers to the accounts of the Access Bank’s customers in Nigeria.
Following the partnership, WorldRemit customers in over 50 countries will now be able to send money to millions of Access Bank accounts directly from their phones.
The new partnership is expected to increase convenience and ease of banking for Access Bank’s customers in Nigeria as well as support the country’s efforts to achieve financial inclusion.
Commenting on the partnership, the Executive Director of Access Bank Plc, Victor Etuokwu was quoted; “It is with great pleasure that Access Bank Plc is partnering WorldRemit, a reputable global payment service, to provide our customers with secure and reliable international money transfers.”
On his part, the Regional Director of Africa and the Middle East of WorldRemit, Andrew Stewart said WorldRemit is delighted to be partnering with Access Bank who not only have a strong presence in Nigeria but Africa at large.
No fewer than three financial institutions have entered strategic partnership with WorldRemit.
In April, Lebara and WorldRemit entered into a strategic partnership, making WorldRemit the exclusive global money transfer partner of Lebara, including transfers to over 40 African countries.
In June, WorldRemit joined forces with First Bank of Nigeria Limited. The deal supports WorldRemit’s plan to serve 10 million customers connected to emerging markets by 2020.
WorldRemit, in July, reached a partnership agreement with Fidelity Bank for the provision of instant money transfers to all Fidelity Bank accounts in Nigeria.
About WorldRemit
WorldRemit is an online money transfer service that provides international remittance services to expatriates and migrant workers.
The financial service digital model allows customers to complete their transactions in just a few taps from a smartphone. Worldremit customers make more than 1 million transactions every month, using its app or website.
The company was founded in 2010 by Ismail Ahmed, Catherine Wines and Richard Igoe and is backed by venture capital companies, Accel Partners and Technology Crossover Ventures (TCV).
As of December 2017, the company had around 2 million users.
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