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Zeepay and MoneyGram Unveil First-of-its-kind Account Deposit Service for Nigerians

Zeepay, Africa’s fastest-growing cross-border fintech, and MoneyGram International, Inc., a leading global financial technology company, have joined forces to unveil a groundbreaking Account Deposit service for consumers in Nigeria.

In a pioneering move within the Nigerian market, this innovative service allows recipients to transfer funds directly into their bank accounts from virtually any country worldwide.

As consumer preferences increasingly shift online, beneficiaries can now enjoy the convenience and security of receiving funds directly into their bank accounts, marking a significant evolution in the remittance landscape in Nigeria.

Versatile Access Options

This service offers consumers multiple options for receiving remittances, with funds accessible through various channels, including ATMs, point-of-sale devices, and bank counters.

Global Synergy: Zeepay and MoneyGram

The collaboration between Zeepay and MoneyGram leverages MoneyGram’s extensive global network, spanning over 200 countries and territories and serving over 50 million people annually. This complements Zeepay’s dominant position in cross-border payments across Africa, extending its reach even to the Caribbean.

Addressing Crucial Needs in Nigeria

Nigeria, as the second-largest recipient of remittances in Africa, faces various challenges, including food insecurity, supply chain disruptions, aftermath of floods, and other natural disasters. The World Bank reports a significant influx of remittances into the country to address these pressing issues.

Dede Quarshie’s Insights

Dede Quarshie, Commercial Head at Zeepay, expresses excitement about the service’s introduction to the Nigerian market. “This innovative service is a significant step in improving last-mile access and addressing security concerns for remittance receivers. With our account deposit service, beneficiaries in Nigeria can now access their funds around the clock, whether through ATMs, point-of-sale devices, or counter services,” notes Quarshie.

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The service is now live and available for consumer use in Nigeria, marking a transformative moment in the remittance landscape. Zeepay and MoneyGram’s joint venture brings a new level of accessibility, convenience, and security to remittance recipients in Nigeria, catering to the evolving needs of the digital era.

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