Africhange, a worldwide remittance services provider, has commenced operations in the United Kingdom, providing more efficient, cost-effective, and dependable ways for individuals to send and receive money internationally.
Africhange currently supports remittance services across more than 100 corridors globally, with more corridors across Africa, Europe, Asia, and the Americas to come and a broader range of payment and financial services for users.
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Africhange Expands into the UK Market with Licenced Payment Solutions
Africhange’s new Authorised Payment Institution Licence will support the execution of various payment solutions, including remittance services, for UK users. The licence will begin with the UK-Nigeria axis and include Ghana and Kenya by the end of the year.
In addition to the market-leading exchange rates that are accessible to the general public, students attending UK universities can receive discounted rates with Africhange.
They also intend to launch Afripoints, a cutting-edge loyalty programme that enables users to accumulate cash incentives for transferring and receiving money over the website.
Every transaction a user makes earns them points with Afripoints, which they may redeem for cash or use as discounts on future purchases. This program is already available to users in Canada, Australia, and Nigeria and will soon launch in the UK.
This program is already available to users in Canada, Australia, and Nigeria and will soon launch in the UK.
According to the founder and CEO of Africhange, David Ajala, Africhange’s entry into the UK market represents a significant milestone in their mission to deliver the best possible global payment experience for Africans in the diaspora.
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 they want to change that.
They have big plans and are looking forward to expanding their services, reaching more customers and ensuring that everyone can benefit from seamless and cost-effective international money transfers.
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Africhange Disrupts Remittance Market with Affordable, Real-Time Payments
In 2023, remittances from the United Kingdom to Africa amounted to over $8 billion, reflecting this cash transfer’s substantial and increasing nature.
The UK and Nigeria have long had close historical ties, and there is a sizable and expanding Nigerian diaspora in the UK. According to recent reports, these factors have made Nigeria one of the top receivers of remittances from the UK worldwide.
With up to 15% of the total amount needed to send money to some African countries, Africa has some of the priciest remittance corridors in the world, according to the World Bank.
Using its innovative platform, Africhange provides users with easy, affordable, and user-friendly international payment experiences that let them send money abroad.
With reasonable rates that ensure more money reaches the destination, users can send money in real time across borders.
With a variety of currencies, including US dollars (USD), Canadian dollars (CAD), Chinese yen (CNY), Nigerian naira (NGN), Kenyan shillings (KES), Ghanaian cedis (GHS), Indian rupees (INR), Australian dollars (AUD), British pound sterling (GBP), and more, the company supports money transfer services from Canada, Nigeria, Australia, and the UK to various countries across the world.