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RippleNet’s Nium Expands to Four Major African Countries with New Ways of Remitting Funds

u.today 09 March 2021 12:49, UTC
Reading time: ~1 m

Press release says that payments platform Nium, a member of RippleNet, now operates in South Africa, Kenya, Ghana and Tanzania and intends to expand to other countries soon as well via its business partners.

Nium clients can now also work with them to offer remittance to their own consumers.

Nium expands remittance services to new African markets

Usually, remittance companies send their customers’ money to Africa using the services of multiple middlemen who add to the cost of transactions and slow the whole process down.

Nium’s business partners in the four leading aforementioned markets now offer a new solution to bring the costs down, make remittance faster and seamless.

New ways of funds remitting

Now users can send cash to Africa via Nium via bank transfers to big financial institutions. Another novelty is sending funds to mobile money wallets whose popularity has been on the rise recently, not only for retail users but also for businesses and governments.

Now, cash sent to Kenya, South Africa, Tanzania or Ghana through bank transfers will be delivered on the same day or next day (more than thirty banks in each of the country) and the recipients will be able to receive the money in real-time.

Nium now works with more than fourteen mobile money wallets.

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