Cellulant Partners WIth Money Q to Facilitate Cross-Border Payments Across Africa

With the help of a partnership with a financial solutions provider based in Dubai, Cellulant, Africa’s leading provider of payment solutions, has made it possible for expats to conveniently recharge airtime for their dependents across Africa.

Through KrosPayz, Money Q’s pan-African digital payments platform that enables online payment for purchases and value-added services at the point of sale, these clients will be able to make these payments.

Millions of people have a rare opportunity to access the formal financial system through mobile remittances, bringing financial services and opportunities for revenue generation closer to their communities. Remittances from Sub-Saharan Africa reportedly rose by 16.4% in 2021 but only by 5.2% in 2022, according to estimates.

In the second quarter of 2022, at 6%, the average cost of shipping $200 across international boundaries remained high. The greatest rates (3.5%) are provided by mobile operators, although less than 1% of transactions are conducted online. Thanks to digital technologies, remittance services are now lot speedier and less expensive.

Customers will be able to use the KrosPayz digital wallet, which will launch in Malawi in April, to pay for local market purchases as well as domestic and international utility bill payments, airtime recharges, domestic financial transfers to people and businesses, and QR code payments.

“For many developing economies, remittances constitute the main source of foreign cash, and they are consistent and durable in the face of economic downturns. They have been referred to as the most reliable, plentiful, and secure sources of foreign aid for developing nations. This collaboration confirms our dedication to making it possible for companies, banks, and customers to send and receive payments quickly and effectively across Africa. Money Q will be able to offer its services across all of Africa by utilizing Cellulant’s connections and presence there, according to Richard Gesimba, vice president of global & regional merchants at Cellulant.

No African should be denied access to the digital channels on the continent, according to Money Q. Amit Shrimali, the founder and CEO of Money Q, gave his thoughts on the collaboration: “I am very excited with this partnership as it helps me to go one step closer to the vision of Money Q, which is to ensure that no one in the nations where we operate is denied the opportunity to use the digital medium for transaction. The collaboration between MoneyQ and Cellulant will definitely support each other in increasing the market share of each business on the continent of Africa.