Ecobank Group Enters Cross-border Remittance Partnership With Alipay

Posted on February 12, 2020

The leading pan-African bank, Ecobank has signed a cross-border remittance agreement with Alipay, the world’s leading payment and lifestyle platform, that aims to bring more inclusive financial services by providing a fast, safe, affordable and convenient way for workers to transfer money back home.

The partnership will facilitate instant transfers from Rapidtransfer, Ecobank’s remittance solution, to users of Alipay, which serves more than 1.2 billion people globally together with its local e-wallet partners.

This provides an additional channel option which will increase options available to users, help lower transaction costs and enhance the quality of service in the market.

Nana ABBAN, Group Consumer Banking Head said: “Our Pan African cross-border remittance solution, Rapidtransfer, has over the years been delivering transparent, convenient, and affordable services to the African diaspora and their African-based dependants. So, it is a natural extension for us to use it to deliver the same advantages to migrant workers across Africa. Through our partnership with Alipay we are further leveraging the scale and capacity of our unified payments ecosystem on the global stage.”

“We are excited to partner with Ecobank and use our technology to bring fast, affordable, and convenient remittance services to more users globally, especially workers who are living far from home,” said Ma Zhiguo, Alipay’s head of the global remittances business.

“We are committed to working with partners such as Ecobank, using innovative technologies to help global consumers gain access to inclusive financial services, creating greater value for society and bringing equal opportunities to the world,” he added.

The solution will be rolled out across our entire footprint, subject to required local approvals.

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

The Chairman, Ogun State Park Management Services, Alhaji Akeem Bodunrin, popularly known as “Iyeru... Continue
Music sensation, Teferah, is back with another choleric single, “Ule Dem Wangu”, which follows... Continue
The Chairman, Senate Committee on Finance, Senator Solomon Adeola (APC, Lagos West), has charged... Continue
Netflix Inc, American Technology and Media service giant, has concluded plans to introduce cheaper,... Continue
Super Eagles of Nigeria defender, William Troost-Ekong, has joined Sky Bet Championship club, Watford,... Continue
A major step towards the realisation of the Fourth Mainland Bridge was, yesterday, taken... Continue
CYRIACUS IZUEKWE Police operatives from Meiran Division, led by SP Shokunbi Toyosi, have rescued... Continue
The Chief Executive Officers (CEOs) of Nigerian Bottling Company Ltd, Matthieu Seguin; Nigerian Breweries,... Continue
CYRIACUS IZUEKWE A 26-year old man, Chisom Ogum, who attacked his father, Mr. Christopher... Continue
The Eastern Conference champion Miami Heat and the Western Conference champion Los Angeles Lakers... Continue

Sponsored




Twitter

Sponsored




Sponsored