Alviere Partners Onafriq to Revolutionize Cross-border Payments For Africans
Embedded finance startup, Alviere, has partnered with Africa’s largest digital payments network Onafriq, to revolutionize cross-border payments for Africans.
This collaboration aims to enable payments and remittances from the US to Africa, with Alviere setting the stage to reach 500 million mobile wallets in Africa.
On the other hand, Onafriq connects various payment schemes with more than 500 million mobile wallets, over 200 million bank accounts, and 400.000 small and medium businesses across Africa’s payments ecosystem.
In this regard, Onafriq chose Alviere to leverage its range of solutions, technical expertise, and sound approach to regulation and compliance. Moreover, as a licensed money transmitter throughout the US and its territories, Alviere enables cross-border payments from the US.
Onafriq will use the Alviere HIVE platform and regulatory framework to process payments originating from the US and its territories while adhering to strict compliance standards, including Anti-Money Laundering (AML), sanctions, and fraud regulations for US financial institutions. This ensures a safe and secure experience for customers.
Speaking on the partnership, Onafriq CEO, Dare Okoudjou, said,
“We are proud to be a key part of the global effort to make sending a cross-border payment as easy and as simple as making a phone call. With Alviere’s technology and regulatory coverage, and our extensive footprint across the continent, we will enable fast and secure remittances while facilitating financial access and economic prosperity for Africans.”
Also speaking, Alviere co-founder and CEO, Pedro Silva, said,
“Onafriq is uniquely positioned to be a global leader in fintech, revolutionizing cross-border payments throughout the African diaspora. We’re proud to be partnering with Dare and his team, our joint focus is to enhance financial access for all people regardless of borders, history, or current means. Together, Onafriq and Alviere will enable a variety of efficient, competitive payment options for millions of consumers.”
With the World Bank disclosing that remittance flows to sub-Saharan Africa alone reached $53 billion in 2022, demonstrating the persistent role of immigrants in the financial well-being of friends and family living in their home countries, Onafriq and Alviere have partnered to revolutionize cross-border payments.
