Alvierthe leading integrated finance platform provider announced this OnafricAfrica’s largest digital payment network, has chosen Alviere to enable payments and remittances from the United States to Africa.
Onafriq connects various payment systems with more than 500 million mobile wallets, over 200 million bank accounts and 400 thousand small and medium enterprises in its network across Africa’s fast-growing but fragmented payments ecosystem.
Because this matters
Cross-border payments are a critical lifeline for many African families and merchants, and Onafriq has made providing financial access across borders a core part of the company’s mission.
According to the World Bank, remittances only flow to sub-Saharan Africa reached 53 billion dollars in 2022, demonstrating the persistent role of immigrants in the economic well-being of friends and family living in their countries of origin.
Digging deeper
Onafriq will leverage the Alviere HIVE platform and regulatory framework to process payments originating from the US and its territories in strict compliance with anti-money laundering (AML), sanctions and fraud standards for financial institutions of the USA.
What they say
“We’re proud to be a key part of the global effort to make sending a cross-border payment as easy and simple as making a phone call“, says Dare Okutsuthe founder and CEO of Onafriq.
“With Alviere’s technology and regulatory coverage and our extensive footprint across the continent, we will enable fast and secure remittances while facilitating financial access and financial prosperity for Africans.”
Alviere’s co-founder and CEO, Pedro Silvaadds, “Onafriq is uniquely positioned to be a global leader in fintech, revolutionizing cross-border payments across the African diaspora. We are proud to work with Dare and his team, our shared focus is to enhance financial access for all people regardless of borders, history or current means. Together, Onafriq and Alviere will enable a variety of efficient, competitive payment options for millions of consumers.
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