Some officials of Zeepay and Small World Money Transfer
Zeepay, the fastest growing mobile financial services company in Africa, recently partnered Small World Money Transfer International to enable international remittances to be paid into mobile money wallets and bank accounts across Africa and a few Caribbean countries.
International remittance termination into mobile money wallets is the fastest growing mobile money product across Africa, according to GSMA 2018 Report.
Termination of remittance across digital channels is probably the most secure and fraud free way of transmitting money across borders in today’s rapidly growing technology world.
It’s safe as long as both the sender and receiver are registered.
It could also be traced, hence limiting the likelihood of fraud and money laundering.
Through this partnership Small World would make it convenient for immigrants in over 200 countries, including North America- USA/Canada, Europe, Nordic Zone, Africa and other Asian countries to send money transfer directly into mobile money and bank accounts through Zeepay’s digital switch.
This brings convenience to both senders and receivers, as the service is available 24/7 across over 150,000 distribution points in Ghana alone and about 600,000 agent networks across Africa.
In Ghana, the service would be immediately available to 11.8 million customers, and has the potential of improving financial inclusion while promoting financial stability in Ghana.
Dede Quarshie, Senior Product Manager at Zeepay, mentioned that “the service would assist to improve last mile access in Ghana.”
She was delighted that through this partnership, the team could bring a lot more services to the end consumer such as RemitInvest, micro insurance and utilities.”
Felicity Luktuka Jaforktuk, Financial Inclusion Analyst at Zeepay, added that “Small World Money Transfer is encouraged for taking this bold initiative in a rapidly growing digital ecosystem. This also shows their commitment as a business to promote Sustainable Development Goals and Financial Inclusion which is key on the agenda of the President of Ghana, Akufo-Addo.”
Zeepay is a wholly-owned Ghanaian non telco lead mobile financial services company operating in Ghana, and regulated by the Central Bank of Ghana through branchless banking, and in the UK through PSD2 of the Financial Conduct Authority (FCA).
It has active operations in both Ghana and United Kingdom.
A business desk report