Zeepay, Africa’s largest fintech and a leading challenger in the mobile money sector, has achieved a significant milestone by securing regulatory approval from the Bank of Ghana for its outbound money transfer service. This new service facilitates cross-border payments from Ghana to key destinations such as the UK, USA, Ivory Coast, and Nigeria.
With a proven track record in both inbound and outbound transfers in countries like Zambia, Barbados, and Ivory Coast, Zeepay extends its outbound service to Ghana in collaboration with MoneyGram.
This approval marks a disruptive development in the financial ecosystem, being the first of its kind granted by the Bank of Ghana or any other regulator within the regulatory sandbox to a mobile money operator originating from mobile money wallets. This expansion enables Zeepay wallet holders to support their loved ones abroad effortlessly through seamless international payments.
Andrew Takyi-Appiah, Managing Director of Zeepay, expressed his enthusiasm for the new service, stating, “This approval is a testament to Ghana’s commitment to supporting local businesses and advancing the innovative potential of our people. It is also a strong endorsement of H.E Dr. M. Bawumia’s digitization initiatives. Importantly, this groundbreaking approval will significantly enhance the lives of Nigerian and Ivorian immigrants in Ghana, allowing them to send up to ten thousand US dollars annually back home, directly to mobile money wallets or bank accounts.”
Dede Quarshie, GM Commercial at Zeepay, added, “This marks a significant milestone for Zeepay with the regulatory approval of our outbound product. This product will enable P2P remittances across essential corridors such as Ivory Coast, Nigeria, the United States, and the United Kingdom. This initiative not only enhances transaction ease for the immigrant community but also transforms regions previously limited to receiving into active sending locations. This development allows Zeepay to provide a comprehensive and improved service to our clients.”
About Zeepay
Founded in 2014, Zeepay Ghana Ltd is a leading provider of digital remittance termination and ancillary mobile financial services in Africa and the Caribbean. The company operates in over 20 countries worldwide and has partnerships with major remittance players such as MoneyGram International, Inc. Zeepay is proud to be a wholly-owned Ghanaian company, regulated by the Bank of Ghana under license #00001, and by the Financial Conduct Authority (FCA) in the UK under license number #592538.
For more information, visit: www.myzeepay.com.
