A press release states 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 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 entire process down.
Nium's business partners in the four leading aforementioned markets now offer a new solution to bring costs down, making remittance faster and seamless.
New ways of remitting funds
Now users can send cash to Africa via Nium, via bank transfers to big financial institutions. Another novelty is sending funds to mobile 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 the next day via more than 30 banks in each country, and recipients will be able to receive money in real time.
Nium now works with more than 14 mobile wallets.