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Visa-backed African unicorn Moniepoint tackles remittances. But is it late to the game?
When Visa backed Moniepoint, it hinted at integration with Visa Direct, signaling an entry into remittances. That strategy is now underway.
As part of that deal, the Nigerian fintech best known for building one of Africa’s largest business banking platforms, hinted at plans to integrate with Visa Direct, a move that would unlock international payment rails for remittances and cross-border services. It’s a vertical that has taken off in the U.S. over the past couple of years, where digital platforms like Zolve help immigrants access financial services, starting with credit as the wedge, not remittances ( Pillar is a similar company in the U.K.). While Eniolorunda sees inevitable consolidation ahead, the profitable fintech is betting that its infrastructure, compliance know-how, and deep cultural understanding will give it enough lift to matter.
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