Nigeria’s leading Fin-Tech, Flutterwave has partnered with European blockchain company, to take on Western Union and MoneyGram. The partnership will enable Flutterwave support remittances into three African countries including Kenya, Nigeria, and Ghana.
Despite the number of FinTech company operating in Nigeria, most Nigerians still find it difficult to receive money from abroad. No company has been able to provide a reliable way for Nigerians to receive foreign funds. The best solution has always been Western Union and Moneygram. Now, with the partnership with Tempo Money Transfer, Flutterwave seems to be ready to disrupt that industry.
“We are excited for the impact this partnership will have on diaspora families who can now send bank payments to their loved ones back home for less”, said Iyinoluwa Aboyeji, CEO Flutterwave.
Tempo uses the open-source Stellar blockchain technology, a very interesting choice to enable quick transactions into verified banks accounts. Utilizing its own domestic platform, Flutterwave will make it easy for Nigerians to receive these foreign payments into their bank accounts directly.