Korapay looks to reduce cost, increase speed of money transfer from US to Nigeria
A Canadian based cross-border remittance company, Korapay Technologies has launched the US to Nigeria transfer corridor, with the aim of reducing the cost of online money transfer and increasing the speed of individual and business payments into and within Africa.
People can now use Korapay to send money from the United States into Nigeria, which is 6 times cheaper and way faster than other platforms.
In the coming months, Korapay intends to open Canada, the UK and Europe transfer routes as well as scale to 22 other African countries. This will have an immense impact on Africa payment infrastructure and make it a lot easier for people in Africa to receive money from outside the continent as well as make seamless transfers within the continent.
In an interview with Dickson Nsofor, Founder & CEO of Korapay Technologies, he said “We believe that Africa is the new frontier of financial opportunity. Our mission is to serve all of Africa via one single API. By doing this, we aim to create a seamless connection between Africa and the global financial system. Our initial focus is remittance (international money transfer) into Nigeria. This is because migrants often use informal channels – that are easily subject to abuse – to send money home. Therefore, there’s the need for an African startup solving Africa’s needs. Korapay’s regulation of remittance flow is key in assuring families and friends of African migrants receive the money sent to them with ease.”
Korapay is currently open to 12 states in the United States (Texas, Nevada, California, Pennsylvania, New York, Michigan, Georgia, Illinois, Florida, Connecticut, New Jersey & Massachusetts) and has a record transaction delivery time of about 60 minutes. Others states in the US, Canada, the United Kingdom, and Europe will be opened in the coming weeks. Regardless of where you are right now, you can sign up on www.korapay.com to send money or to get early access when your location is live.
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