Nigerian Bank and Earthport sign remittance deal
Nigeria’s Access Bank has selected Earthport to provide delivery of cross-border payment services into the country.
The new payment channel has been created in order to address the need for more effective servicing of remittances and low-value payments sourced from outside the country, which now total an estimated $19 billion per year.
The partnership is part of Earthport’s longer term strategy of expansion into the African continent.
Victor Etuokwu, executive director at Access Bank Nigeria, said: “It is with great pleasure that Access Bank is partnering with Earthport, a reputable global payment network, to meet the needs of our customers who require a sound and reliable international payment platform.
“As a top player in the remittance industry in Nigeria, our wide branch network and large customer base will be invaluable to this partnership and we are confident that this relationship will be a mutually beneficial one to both parties.”
Hank Uberoi, chief executive officer of Earthport, added: “We are delighted to be partnering with Access Bank to extend our global payment network into Nigeria, which is undergoing a rapid transformation. With this comes a growing demand for efficient cross-border payment services, which Earthport will deliver to this important market, together with innovative solutions for financial inclusion.”