Afriex has announced a collaboration with Visa to facilitate real-time cross-border payments to over 160 markets.
The integration of Visa Direct through Afriex’s financial institution partner allows seamless, real-time delivery of funds directly to eligible Visa endpoints, linking to billions of accounts worldwide.
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The collaboration is aimed at making it easier for individuals and businesses to send and get funds across borders.
The new service aims to make international payments more accessible and affordable, leveraging Visa’s payment network for expanded reach and reliability.
Afriex’s platform now offers immediate access to these capabilities via its mobile app.
The company allows people and businesses worldwide send, receive, and store money in multiple currencies with near-zero fees and instant transfers.
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Afriex CEO Tope Alabi said, “For the millions of families and businesses who depend on remittances, speed and transparency matter most. Working with Visa allows us to pair Afriex’s innovation with Visa Direct’s global network, so money moves in real time, not days.”
As per the World Bank, remittances to low- and middle-income countries reached $669bn in 2023.
The collaboration between Afriex and Visa Direct is aimed at addressing the growing demand for faster, more accessible cross-border payment solutions, ensuring that vital funds reach families, communities, and businesses with greater speed.
Afriex offers Visa Direct functionality via its financial institution partner; however, Push-to-Wallet is not yet commercially available.
Last year, Afriex widened its countries’ network to enable people in Europe to send funds to more than eight African countries.
The widened network now includes the Netherlands, Romania, Germany, Ireland, Italy, France, Belgium and Spain.
