Cross-border payment hub Tranglo has expanded its services in Africa.
Tranglo now facilitates payments in Ethiopia, Kenya, Liberia, Madagascar, Mali, Senegal, and Zambia.
Remittances are crucial for African households and businesses. Tranglo aims to address high remittance fees by offering efficient and cost-effective solutions.
The World Bank estimates that remittances to Sub-Saharan Africa reached US$ 54 billion in 2023.
Tranglo’s network allows users to send and receive money through various channels, including mobile wallets, bank accounts, and cash pickup locations.
This expansion provides greater financial access to underserved populations.
At launch, the service supports local currency transfers through e-wallets in Ethiopia, Kenya, Liberia, Madagascar, Senegal, and Zambia, with bank transfers available in Mali.
Recipients can access these funds almost instantly. The company also noted an expansion of e-wallet services in Morocco.
Tranglo Connect, a cross-border payment solution, enables businesses and financial institutions to integrate and manage their payment processes.
With direct API access, Tranglo Connect streamlines the end-to-end payment journey, facilitating reliable and secure payments to over 100 countries.
Jacky Lee, Group CEO, Tranglo, said,
“Africa’s dynamic growth in remittances and mobile adoption highlights the need for reliable and affordable cross-border payments.
With this expansion, Tranglo partners can now provide payout services to millions of unbanked or underserved individuals across these countries, facilitating secure access to funds for essential needs and economic growth.”
