Zeepay and MoneyGram launch Account Deposit service in Nigeria

Zeepay, Africa’s fastest-growing cross-border fintech, and MoneyGram International, Inc. (MoneyGram), a leading global financial technology company that connects the world’s communities, today announced the launch of a pioneering Account Deposit service for consumers in Nigeria. This innovative service, a first in the Nigerian market, enables remittance receivers to directly transfer funds into bank accounts from just about every country in the world.

In this landmark partnership, Zeepay and MoneyGram introduce a service that revolutionizes the remittance experience in Nigeria. As consumer preference shifts online, beneficiaries can now conveniently and securely receive funds directly into their bank accounts. This service provides consumers with several options to receive remittances, as funds are readily accessible through various channels, including ATMs, point-of-sale devices and bank counters.

MoneyGram’s vast global network, spanning over 200 countries and territories and serving over 50 million people annually, complements Zeepay’s dominant position in cross-border payments across Africa, extending even to the Caribbean.

According to a recent report by the World Bank¹, Nigeria was the second largest recipient of remittances in Africa, and remittances are being sent to the country to help alleviate food insecurity, supply chain disruptions, aftermath of floods and other natural disasters, and more.

Dede Quarshie, Commercial Head at Zeepay, comments, “We are thrilled to introduce this innovative service to consumers in Nigeria, a market that truly relies on inbound remittances. This launch 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.” The service is now live and available for consumer use in Nigeria.

About Zeepay

Founded in 2014, Zeepay Ghana Ltd is a trailblazer in digital remittance termination and mobile financial services across Africa and the Caribbean. With a presence in over 20 countries globally, Zeepay has forged strong partnerships with major remittance entities, including MoneyGram.

As a wholly-owned Ghanaian enterprise, Zeepay takes pride in its strong regulatory compliance, operating under the oversight of the Financial Conduct Authority (FCA) in the United Kingdom (license #592538) and the Bank of Ghana (license #00001). For further information and to experience our services, visit: www.myzeepay.com.

About MoneyGram

MoneyGram International, Inc. is a global financial technology company enabling consumers and businesses to move and manage money in nearly every country around the world. Through its innovative cross-border platform, MoneyGram provides millions of consumers globally the ability to send money home for family and friends to pick up in cash or receive directly to a bank account, mobile wallet or card.

The Company is a pioneer in the use of blockchain technology at scale, now launching its own non-custodial digital wallet for consumers to seamlessly move from fiat to digital currency, and also enabling consumers to buy, sell and hold digital currencies on its industry-leading app. With one of the world’s most extensive and dynamic cash distribution networks, MoneyGram has become the single largest on and off-ramp provider for digital currencies in the world.

The MoneyGram team spans the globe with over 2,000 employees across 36 countries, representing more than 75 nationalities. Headquartered in Dallas, Texas, and known for its strong corporate culture globally, MoneyGram has been named a recipient of the Top Workplaces USA award for two consecutive years. By the numbers, MoneyGram serves more than 50 million people in over 200 countries and territories each year, processing more than US$200 billion annually.

Relentlessly digital-first and customer-centric, the Company’s digital transactions now account for over 50percent of its money transfer business.

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