Africhange, a global remittance services provider, has launched its operations in the United Kingdom(UK) to offer more efficient, cost-effective, and reliable solutions for individuals to send and receive money internationally.
The firm said in a statement on Monday that it is starting with the UK-Nigeria corridor and expanding to include Ghana and Kenya before the end of the year.
“Africhange’s entry into the UK market represents a significant milestone in our mission to deliver the best possible global payment experience for Africans in the diaspora,” David Ajala, the founder and CEO of Africhange, said. “Despite the significant inflows of remittance to the continent, the cost of sending money means a significant percentage of those funds don’t get to the recipients and we want to change that.”
“We have big plans and we are looking forward to expanding our services, reaching more customers and ensuring that everyone can benefit from seamless and cost-effective international money transfers.
“Africhange’s new Authorised Payment Institution License will underpin the delivery of a range of payment solutions, including remittance services, for UK users. With Africhange, students enrolled in UK universities can get discounted exchange rates on top of the market-leading rates available to the general public,” it stated.
Africhange said it is also planning to introduce its innovative loyalty program (Afripoints) which allows users to earn cash rewards for sending or receiving money through the platform.
“With Afripoints, users are able to accumulate points for every transaction, which can be withdrawn as cash or spent as discounts on transactions. This program is already available to users in Canada, Australia, and Nigeria, and will soon be launching in the UK,” it stated.
