Nigeria’s largest bank, which operates across 17 markets, MFS Africa, has partnered with one of Africa’s largest digital payments networks, Access Bank, to expand AccessAfrica remittance corridors.
AccessAfrica is an Access Bank service that allows customers to send and receive money from loved ones and business partners all over the world.
The collaboration will simplify transfers for AccessAfrica customers, enabling real-time, cost-effective cross-border payments for individuals and businesses looking to send financial support to family members abroad or facilitate trade transactions.
AccessAfrica customers will also be able to receive payments from all over the world through MFS Africa partners.
Robert Giles, Senior Banking Advisor, Retail, Access Bank, while commenting on the partnership with MFS Africa, said: “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 Access Africa to.
“Our partnership with MFS Africa and access to hundreds of millions of people in the new markets will help our customers pay and be paid, facilitating greater economic inclusion through trade as well as helping families across borders.
Critically, this propels us closer to being ‘Africa’s gateway to the world’ and democratizing access to payments through affordable, safe, and reliable platforms.
“The partnership reaffirms MFS Africa’s commitment to making borders matter less for individuals and organizations across the continent, ultimately fostering financial inclusion.
“Through this partnership, we’ll be expanding Access’ instant outbound remittance reach to potentially 400 million mobile wallets and more than 130 banks across over 40 African countries, enabling thousands of people and businesses throughout the continent to receive payments in real-time from Nigeria, improving convenience for and facilitating trade with the neighboring countries and beyond.”