Unlocking global payments: Afriex, Visa join forces for Instant transactions
- Staff Writer
- 5 days ago
- 1 min read
The agreement comes as a World Bank analysis shows that remittances to low- and middle-income nations reached $669 billion by 2023.
By Staff Writer
A turning point in financial alliance came into effect yesterday, bringing real-time cross-border payments to over 160 markets.
The partnership between Afriex, a worldwide fintech platform, and Visa, a global digital payment provider, is expected to improve cross-border payments.
The agreement comes as a World Bank analysis shows that remittances to low- and middle-income nations reached $669 billion by 2023.
With Afriex and Visa Direct, these critical payments can reach families, communities, and businesses more quickly than ever before. This demand highlights the need for speedier and more accessible cross-border payment solutions.
The integration is currently live on the Afriex platform and can be accessed immediately through the Afriex mobile app.
In a statement, the two stated that by integrating Visa Direct through Afriex's financial institution partner, Afriex is making it faster and easier for consumers and businesses to send and receive money across borders.
According to the announcement, Afriex and Visa Direct work together to transmit funds in real time to authorised Visa endpoints, connecting billions of accounts.
The companies said: “This collaboration enhances Afriex’s mission of making international payments accessible and affordable, while leveraging Visa’s payment network to extend reach and reliability.”
Tope Alabi, CEO at Afriex, commented: “For the millions of families and businesses who depend on remittances, speed and transparency matter most. Working with Visa allows us to pair Afriex’s innovation with Visa Direct’s global network, so money moves in real time, not days.”
