Paysend, a UK-based fintech with over 6.5 million customers, announced on Thursday a technology partnership with Afrimoney, the mobile money service provided by Africell, to enable money transfers to West Africa, specifically in Gambia and Sierra Leone.
According to a press release, through the partnership, which is powered by MFS Africa, Paysend will enable users to send money across borders via Africell to The Gambia and Sierra Leone, with the funds reaching Afrimoney mobile wallets.
With features like low fixed fees on money transfers, competitive exchange rates, and the ability to receive instant international payments, Paysend hopes to transform how communities in West Africa manage money globally.
“The partnership between Afrimoney and Paysend, through MFS Africa, will assist customers all over the world to stay better connected and send funds to support loved ones in West Africa. They will experience more affordable rates for transferring money and experience far quicker processing times. Through Paysend’s easy-to-use app, automated phone number, and text ID verification, users can immediately make transfers through Paysend’s platform,” Alex Bessonov, Group Head at Paysend said.
Andy Widmann, Afrimoney Group Director said remittances are among the most important applications for mobile money.
“We want our Afrimoney platform to be as simple and accessible as possible. This partnership with Paysend and MFS Africa makes it easier for people around the world to send mobile money to Gambia and Sierra Leone, thus making the service even more useful to customers and giving them more financial opportunities,” Widmann said.
“Originally a product found in only a few select markets, mobile money is now a global phenomenon. The benefits of mobile money are especially pronounced in the context of family remittances and connecting the diaspora and their loved ones back home. Through this exciting partnership with Afrimoney and Paysend, we will be jointly expanding access for the Gambians and Sierra Leoneans, making it seamless and cost-effective for them to receive money from their families abroad,” Nika Naghavi, Executive for MNOs at MFS Africa said.
For a limited 30-day period, Paysend is offering fee-free transfers to digital wallets in The Gambia and Sierra Leone until the end of May.
Recipients will also receive an equivalent 2 USD bonus, credited by Afrimoney. Customers will also enjoy their first three transfers to digital wallets for improved exchange rates.
Edited by Zintle Nkohla
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