Wi-Pay Launches Money Transfer Services

Wi-Pay Technologies has successfully tested its online platform and soon to be launched international digital money transfer services.

Wi-Pay Global, the sister company ofWi-PayTechnologies, was granted an international Money Transfer Operator (IMTO) licence by the Central Bank of Nigeria (CBN) in November 2016. Over that period the company has engaged in developing strategic relationships with some banks while it designed the operating platform and integrating with local banks in Nigeria and Ghana. “Our tenacity in the implementation process has ultimately culminated in this successful testing and we are quite excited about it,” Chairman and CEO of the company, Chamberlain Peterside, was quoted to have said. Upon launching the operation in early 2019, the money transfer services will initially focus on the UK-Nigeria and Ghana corridors as the company strives to expand its footprint to other West African countries. Against this background, the CEO explained that the company would seek to continue building strategic partnerships that can enable it terminate transactions in banks, via bank accounts or cash-outs across the region as well as through NIPOST locations in Nigeria. It is planned that upon full integration recipients also could be able to receive remittances in their mobile wallet and agent locations. Wi-Pay said it is poised to offer innovation and multiple channels for terminating international remittance in Africa. “By recent data, over $23 billion was remitted by Nigerians in Diaspora, therefore Wi-Pay is well positioned to capitalize on this growing market,” he added.