Welcome to Nigeria, Again, TransferWise.
TransferWise will be leveraging Flutterwave’s Pan-African payments infrastructure to send money into any verified Nigerian bank account.
Thanks to the partnership with Flutterwave, TransferWise customers in the UK and around the world can now use their debit cards, or online banking on the TransferWise website and mobile app to send money to family and friends with verified bank accounts in Nigeria.
According to the World Bank’s Migration and Development Brief, in 2016 Nigerians in the diaspora sent $19 billion to their families and friends in Nigeria making it one of the most active remittance corridors in the world.
Flutterwave’s payments infrastructure will enable TransferWise to instantly verify recipients’ bank accounts and send funds to recipients in local currency within a day.
By re-opening this corridor; Nigerian families and communities looking to get paid from diaspora relatives, friends, business partners, and loved ones around the world, we will spur further growth in the Nigerian economy.
More importantly, TransferWise’ re-entry into the market is a huge testament to Nigeria’s miraculous economic recovery and the stellar job the Central Bank of Nigeria and the current government has done to stabilize the naira.
It can only get better!
We look forward to supporting other global money transfer players like Transferwise to scale across Africa by creatively solving technology and regulatory challenges involved with scaling their money transfer operations in Nigeria and across 36 other African countries we serve today.
So TransferWise, welcome to a Nigeria that is truly open for business.
PS: If you are looking for secure, seamless and compliant digital payment solutions for scaling your business across Africa, email us at firstname.lastname@example.org