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TerraPay, a mobile-first international payment network, is partnering with MoneyTrans, a money transfer company established in Europe and Africa, and Paga, a Nigerian payments and financial services company, to launch cross-border remittances from Spain to mobile wallets in Nigeria.
Nigerians in Spain now can send funds to any mobile phone number in Nigeria through Paga by visiting the nearest MoneyTrans store, according to a press release.
The recipient can withdraw money from more than 11,000 Paga agents across Nigeria or make cardless 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.
The mobile-based cross-border remittance service has launched in Spain and will be followed by successive launches in Belgium, France and Italy in the coming weeks, according to the announcement.
TerraPay did not disclose in the announcement the cost of money transfers for senders.
Topics: Money Transfer / P2P