The deal, which comes at a time when mobile money is booming on the continent, with businesses and individuals seeking cross-border transaction solutions, will enable customers to have instant remittances to bank accounts and wallets across Africa for their ever-growing customer base.
EziPay is present in 14 African countries and boasts a user base of over 300,000, including Africans in the diaspora and expatriates who utilize EziPay's digital wallets for inward and outward remittances. EziPay's global wallet Mauritius offering is live with over 90+ countries' payout corridors. On the other hand, MFS Africa's digital payments network connects over 400 million mobile money wallets, 200 million bank accounts, and 120,000 agents in Nigeria.
The collaboration is expected to provide last-mile connectivity for remittances and collections to and from mobile money wallets and bank accounts in Africa.