Onafriq has partnered with Alviere to facilitate payments and remittances from the United States to Africa.
Onafriq links a variety of payment systems with over 500 million mobile wallets, more than 200 million bank accounts, and 400 thousand small to medium businesses across Africa’s rapidly expanding, yet diverse, payments ecosystem.
Cross-border payments serve as an essential support system for numerous African families and merchants.
According to the World Bank, remittance flows to sub-Saharan Africa alone amounted to $53 billion in 2022. This underscores the ongoing contribution of immigrants to the financial stability of their friends and family in their home countries.
Companies like Onafriq and Alviere are revolutionizing traditional financial services by offering payment solutions that open up economic opportunities across the continent.
Onafriq chose Alviere – a US-based company for its comprehensive solutions, technical proficiency, and robust approach to regulation and compliance.
Alviere, as a licensed money transmitter throughout the U.S. and its territories, and is distinctively positioned among embedded finance providers to facilitate cross-border payments from the United States.
Onafriq will utilize the Alviere HIVE platform and regulatory framework to process payments from the U.S. and its territories, adhering strictly to Anti-Money Laundering (AML), sanctions, and fraud standards for U.S. financial institutions. This ensures a smooth, secure, and safe experience for customers.
“With Alviere’s technological and regulatory capabilities, and our broad reach across the continent, we aim to expedite secure remittances while promoting financial access and economic growth for Africans,” said Dare Okoudjou, the founder and CEO of Onafriq.
Pedro Silva, Alviere’s co-founder and CEO, acknowledged Onafriq’s unique position as a potential global leader in fintech, transforming cross-border payments throughout the African diaspora.
“Together, Onafriq and Alviere will provide a range of efficient, competitive payment options for millions of consumers,” said Silva.