TerraPay, the Netherlands-based payment network, has announced partnership with money transfer firm MoneyTrans and Paga, a Nigerian payments and financial services firm, to launch remittance services from Spain to mobile wallets in Nigeria.
Nigerians in Spain will now be able transfer money to any mobile phone number in Nigeria through Paga, just by visiting the nearest MoneyTrans store, while the recipient can withdraw money from over 11,000 Paga agents across Nigeria or make card-less withdrawal from ATMs.
The recipient can also use the money to pay bills, buy airtime or send the money to any other phone number or bank account in Nigeria, among other services, TerraPay said.
The cross-border money transfer service is also set to launch in Belgium, France and Italy in the coming weeks.
TerraPay founder and CEO Ambar Sur said: "This partnership with MoneyTrans and Paga will play a pivotal role in cross border remittances in Nigeria, helping to reduce fees, improve speed and provide convenience for users."
MoneyTrans COO Jeremy De Smet said: "TerraPay is well positioned to offer a strong solution building upon and leveraging a major technical infrastructure that has been in place for many years in Africa."
Paga co-founder Jay Alabraba said: "We are happy to collaborate with TerraPay and MoneyTrans in enabling secure transfers between Spain and Nigeria, the first of several important remittance corridors we will be launching together.
“By combining Paga's extensive reach with the proven capabilities of TerraPay and MoneyTrans in the international remittance space, we are bringing to market a seamless and easy-to-use facility for Nigerians at home and in the diaspora."