Nium, Which Leverages the Ripple Blockchain, Enables Bank and Mobile Money Transfers to 4 African Countries

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Nium, a global payments platform, has announced that its clients are now able to send funds to 4 African countries with more countries in the pipeline.

This comes after the company announced its plans to enter the African market in Q4, 2020, as it seeks to tap into the the massive mobile money market in Africa which is reported to be growing 5 times faster than any other region.

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SEE ALSOMobile Money Accounts Surpassed 65 Million with a 46% Increase in Mobile Money Transactions in 2020, Says the Central Bank of Kenya

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Speaking about this company’s milestone into Africa, Clara Wanjiku, VP, Partnerships and Growth, MEA, Nium, said:

“While much progress has been made to revamp the consumer remittance scene in Africa, more needs to be done to improve the experience of business payments into Africa. With Nium now supporting both bank transfers and mobile money wallet payments into Africa, global businesses can now expect a much smoother, faster and safer transaction experience when making payments to partners, individuals or vendors within the continent,”

                      – VP, Partnerships & Growth, MEA, Nium

Nium allows you to send mobile money wallet payments to these countries and money money platforms:

  • Kenya – MPESA, Airtel, Telkom
  • Ghana – MTN, Vodacom, Airtel-Tigo
  • Tanzania – MPESA, Airtel, Halotel, Zantel

Some of the Nium’s money transfer capabilities in Africa are:

  • The ability to send money to Kenya, South Africa, Ghana and Tanzania via bank transfers (same day or next day delivery[1]) and mobile money wallets in real-time
  • Access to 14+ mobile money wallets in these countries, including M-Pesa, Airtel, MTN, Vodacom
  • Support for remitting funds to over 30 banks in each country and to more than 1000 bank branches as part of the supporting banks network (Kenya: 41 banks, 87 branches | South Africa: 41 banks, 58 branches | Ghana: 27 banks, 1000+ branches | Tanzania: 37 banks, 600+ branches)

Nium leverages the Ripple blockchain to process transactions in real-time for its customers. Thanks to RippleNet, Nium is the first in the region to offer corridors from North and South America into a number of destinations in Southeast Asia. New connections on the network have also helped Nium solidify its presence across Australia, Singapore and Malaysia.

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RECOMMENDED READING: P2P Mobile Money Transactions Increased by 87% in 2020, Says the Central Bank of Kenya as It Introduces New Pricing Guidelines

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