Transfast a provider of online payment and money transfer solutions has now expanded its cross-border payment services to include Nigerians in the United States of America and Canada. With this improvement, Nigerians in the U.S and Canada will be able to transfer fund to Nigerian bank accounts of the recipients.
Transfast provides online payment solution to many countries including Nigeria among other 23 African nations. The company says that Nigerians in Diaspora are using the services of the company to send money back home to their friends and family members through a number of means such as cash, bank deposit and M-PESA mobile wallets.
Transfast allows money transfer in US and Canada to accounts in about 600 banks across Africa. It also has about 6,000 cash pick-up locations across the continent.
In a statement released by the company, the newly expanded service is the most extensive of its types in Africa. Nigeria, Kenya, Gambia, Ghana, Ivory Coast, Ethiopia, Senegal and Mali are the African countries where the company allows direct transfer to local bank accounts. The company has also revealed its plans to extend its services to 17 more countries in continent which include Burkina Faso, Benin, Cameroon, Bissau, Niger, Morocco, Cape Verde, Comoros, Chad, Egypt, Congo, Guinea, Sierra Leone, Mauritania and Togo.
According to the company’s CEO, Samish Kumar, the direct transfer to local account initiatives of the company helps to promote the financial inclusion objectives of African countries’ governments.
World Bank has said that the direct bank payment and electronic payments was very crucial in establishing financial inclusion by getting account holders involved in the banking system.