PaySii, a global money transfer start-up, has partnered with payment gateway MFS Africa to facilitate remittances into Africa
This partnership will enable the company to serve clients who send money to mobile money wallets in Nigeria, Ghana, Uganda, Cameroon, Rwanda, Ethiopia, Côte d'Ivoire, Zambia, Madagascar, Malawi, Congo, Niger and Benin.
PaySii is a digital remittance platform known for its highly competitive rates and instant mobile to mobile money transfers, which helps migrant communities around the globe easily send money to their loved ones.
According to the World Bank, Africa is the most expensive region to send money to, at an average fee cost of nine per cent. In 2018, US$40bn was sent to sub-Saharan Africa, and by making remittances easier, Paysii aims to reduce the costs associated with those transfers.
MFS Africa offers its partners unparalleled reach for scale across the continent, with more than 200 million mobile wallets. Money transfer companies can exploit the ubiquity of mobile wallets as a safe, convenient, and cost-effective channel for transactions.
MFS Africa works closely with players across the ecosystem to provide customers with simple and secure mobile financial services, without formal bank accounts.
The partnership will facilitate the transfer of money into mobile wallets operated by the likes of MTN, Airtel, Paga, Vodafone and Orange, operating in the new PaySii serving countries.
