International digital money transfer service WorldRemit has partnered with Access Bank Plc to allow instant money transfers to the bank’s customers’ accounts in Nigeria.
The new partnership further expands WorldRemit’s presence in Nigeria, allowing its customers in over 50 countries to send money to millions of Access Bank accounts directly from their phones.
Access Bank has an extensive network of millions of customer accounts and over 340 branches. The new partnership with WorldRemit will increase convenience and ease of banking for Access Bank’s customers in Nigeria as well as support the country’s efforts to achieve financial inclusion.
Speaking on the partnership, Access bank’s Executive Director, Victor Etokwu said “it is with great pleasure that Access Bank Plc is partnering with WorldRemit, a reputable global payment service, to provide our customers with secure and reliable international money transfers.
“As a top player in the remittance industry in Nigeria, our extensive branch network and large customer base will be invaluable to this partnership, and we are confident that this relationship will be mutually beneficial to both parties. This alliance also supports Access Bank’s aspiration of being Africa’s gateway to the world.”
Also, Regional Director of Africa and the Middle East at WorldRemit, Andrew Stewart, said “we are delighted to be partnering with Access Bank, a leading commercial bank in Nigeria with a strong presence across Africa.
“Nigeria remains our largest market in Africa, accounting for one-quarter of all transactions to the continent, and this partnership will support the country’s transition from offline remittances to online, safer, faster and lower-cost money transfer methods.”
Plans to grow the partnership will connect over 15 million Access Bank customers in Nigeria, the Democratic Republic of the Congo, Ghana, Rwanda, the Gambia, Sierra Leone and Zambia to WorldRemit’s best-in-class online money transfer experience. The deal supports WorldRemit’s plan to serve 10 million customers connected to emerging markets by 2020.
With a diaspora of 15 million people living in countries including the United States, the United Kingdom, Australia, and Canada, remittances play a significant role in Nigeria’s economy. The World Bank estimates that in 2017 alone Nigeria received $22 billion in remittances, making it the largest recipient in Africa.
