Digital financial services platform Wari is working with Lycaremit to add low-cost fund transfers across Europe, Africa and the Middle East to its network.
The partnership will deliver the money transfer capabilities online through WhatsApp Messenger and eventually through a Lyca mobile app it plans to launch soon.
Dakar, Senegal-based Wari has provided access to financial services through its payments platform, having built a network of more than 700,000 outlets around the world with numerous service options for customers. Wari Pay is accepted through Facebook Messenger, the Wari App and at POS terminals accepting the software.
Lycaremit is part of the British multinational Lyca Group remittance providers.
“The Lyca Group was built to connect people around the world," Allirajah Subaskaran, founder and chairman of Lyca Group, said in a Thursday press release. "We are committed to helping as many people as possible send money to friends and loved ones across borders. Through our partnership with Wari, we have an opportunity to better realize that vision."
The companies say the partnership came about because of the need to create an integrated ecosystem comprising financial services, operations, and the facilitation of cross-border transactions.
Lycaremit says its customers will benefit from Wari's platform, which will enable Lyca to credit any bank account and mobile wallet. Wari will benefit from the increased engagement that Lyca’s global brand recognition will bring to its platform.
"We partner with key players around the world to offer a global ecosystem to our customers," Kabirou Mbodje, CEO of Wari, said in the release. "This agreement will provide more options to foreign communities who support their families back in their countries of origin and is aligned with our goal of ensuring that financial and digital services are accessible to all.”
Lycraremit plans to start its global rollout in Europe to meet the demand on the continent for fast and reliable international money transfers.
