TechInAfrica — Moneytrans and Remitly set a global cooperation agreement about expanding digital remittance in Africa. Remitly is a well-known digital remittance company based in North America.
Through their partnership, both companies will set 4,000 retail payout locations in 10 African countries. This allows Remitly to better serve the remittance industry in North, Sub-Saharan, and Middle East. In 2017, it reached more than $91 billion. This agreement set as a commitment of Remitly to give a convenient remittance experience to people live in Africa.
The digital money transfer service that is backed by Jeff Bezos’s venture capital firm, Bezos Expeditions ships over $6 billion annual volume from its customers in Australia, Canada, the United Kingdom, and the United States.
The CEO of Remitly, Matt Oppenheimer stated, “Moneytrans was our natural partner choice to set up our offerings and access to its extensive network of digital wallet providers, banks, and cash pick-up network within Africa. It enables us to serve people who want to transfer money to their family and loved ones with a convenient, secure, and transparent service.”
“Our cooperation with Remitly is a part of Moneytrans long-term strategy to provide interoperability and to liberalize financial services across Africa. Our main economic and social purposes of this partnership are to help the African immigrants to access payment medium with more affordable, fast, and secure service.” The Founder and CEO of Moneytrnas, Francisco Sanchez Apellaniz says.