Zeepay partners with Transfast to extend local and international remittance reach
Ghana’s Zeepay, a fast-growing fintech that provides mobile financial services across Africa, has announced its partnership with Transfast, a Mastercard company and a leading cross-border payments service provider.
In a statement issued in Accra on Thursday this week, Zeepay said the partnership will enable consumers around the world to send money directly to more than 20 million mobile money wallets in Ghana with speed, security, and certainty.
According to the statement, Transfast processes remittances through its proprietary direct-to-bank network and offers nearly 300 000 cash payout points, as well as bank account and mobile wallet transfers in more than 100 markets and growing. Funds can be sent via any of Transfast's physical partner locations.
Transfast MD Samir Vidhate noted that the strategic collaboration with Zeepay gives Transfast access to the Ghanaian market and over 20 other countries across Africa such as Nigeria, Guinea Conakry, Mozambique, Ivory Coast, Uganda, Rwanda among others.
“The partnership with Zeepay makes it easier for our consumers to send money to their families and friends in Ghana. This is an important step that will drive financial inclusion across the country – as consumers can now securely and conveniently receive remittances, directly to their mobile money wallets,” he said.
“This latest development will further enhance the network of Transfast in Africa. We're excited to extend our service to Zeepay, a partner that shares our commitment to compliance with local regulations to ensure people can send money safely,” he added.
Zeepay MD Andrew Takyi-Appiah remarked that “Together with Transfast, we are building the future ecosystem of digital payments in Ghana and are delighted to welcome Transfast to our omni- channel wallet payout network in Ghana and greater parts of Africa."
Zeepay Chief Commercial Officer Dede Quarshie noted that the service safe as both the sender and receiver are registered and can be traced, hence limiting the propensity of fraud and money laundering. “Transfer of remittance across digital channels is the most secured and fraud-free way of transmitting money cross border in today's rapidly growing technology world,” he said.