Alviere, a leading embedded finance platform provider, has announced that it has been chosen by Onafriq, Africa’s largest digital payments network, to enable payments and remittances from the United States to Africa.
Onafriq connects various payment schemes with more than 500 million mobile wallets, over 200 million bank accounts, and 400,000 small-to-medium businesses in its network across Africa’s fast-growing yet fragmented payments ecosystem.
Cross-border payments are critical for many African families and merchants: according to the World Bank, remittance flows to sub-Saharan Africa alone reached US$53 billion in 2022,
Onafriq has made enabling financial access across borders a core part of its company mission. It selected Alviere for its breadth of solutions, technical expertise, and sound approach to regulation and compliance. Alviere is uniquely positioned among embedded finance providers to enable cross-border payments from the United States as a licensed money transmitter throughout the US and its territories.
Onafriq will leverage the Alviere HIVE platform and regulatory framework for processing payments originating from the US and its territories in strict compliance with Anti-Money Laundering (AML), sanctions, and fraud standards for US financial institutions. This, the partners say, creates a seamless, safe, and secure experience for customers.
Speaking on the partnership and purpose; Dare Okoudjou, the founder and CEO of Onafriq, says: “With Alviere’s technology and regulatory coverage, and our extensive footprint across the continent, we will enable fast and secure remittances while facilitating financial access and economic prosperity for Africans.”