In an effort to bring more inclusive financial services to users across West Africa, Ecobank Group has signed a cross-border remittance agreement with Alipay, the world’s leading payment and lifestyle platform.
The partnership will provide a fast, safe, affordable and convenient way for workers to transfer money back home.
Users of Alipay serve more than 1.2 billion people globally together with its local e-wallet partners, which provides an additional channel to help lower transaction costs and enhance the quality of service in the market.
“Our Panafrican cross-border remittance solution, Rapidtransfer, has over the years been delivering transparent, convenient, and affordable services to the African diaspora and their African-based dependants. So, it is a natural extension for us to use it to deliver the same advantages to migrant workers across Africa. Through our partnership with Alipay we are further leveraging the scale and capacity of our unified payments ecosystem on the global stage,” said Nana ABBAN, Group Consumer Banking Head.
Also speaking, Ma ZHIGUO, Alipay’s head of the global remittances business, said: “We are excited to partner with Ecobank and use our technology to bring fast, affordable, and convenient remittance services to more users globally, especially workers who are living far from home.
He added that Alipay is committed to working with partners such as Ecobank, using innovative technologies to help global consumers gain access to inclusive financial services, creating greater value for society and bringing equal opportunities to the world.