Nigeria’s Access Bank partners MFS Africa for outward remittances
Access Bank, Nigeria’s largest bank, has partnered with digital payments enabler MFS Africa to expand its AccessAfrica remittance corridors.
Access Bank partners MFS Africa for outward remittance
AccessAfrica is Access Bank’s cross-border payments service, which allows customers to transfer and receive money across the world from individuals and business partners.
The partnership will provide “real-time, cost-effective” cross-border payments for AccessAfrica customers, including individuals and businesses. AccessAfrica customers will also be able to receive payments from all over the world through MFS Africa partners.
“This partnership builds on the existing cross-border payment infrastructure by Access Bank and would facilitate payments to more African corridors, increasing the number of countries we can send instant payments through AccessAfrica,” says Robert Giles, senior banking advisor, retail, Access Bank.
MFS Africa CEO Dare Okoudjou says the partnership will expand Access Bank’s instant outward remittance reach to “potentially 400 million mobile wallets and more than 130 banks across over 35 African countries”, enabling “thousands” of people and businesses in Africa to receive real-time payments from Nigeria, and ultimately fostering financial inclusion.
