WorldRemit and VTNETWORK LIMITED (VTN), one of Nigeria’s mobile payment operators have partnered to bring a mobile money transfer service; that will see Nigerians in the Diaspora have a convenient and affordable option to directly deposit money into the mobile wallets of their loved ones in Nigeria. While full details will be announced this WorldRemit-VCASH service will be conveniently available 24/7 and there will be no minimum.
Monies in the wallets of VCASH subscribers can be sent on to other VCASH users, known as a person to person (P2P) transfer, or be used to pay bills and purchase goods or services. VCASH users can also deposit funds into their accounts in any of Nigeria’s commercial banks.
World Remit is just taking in a record-breaking Silicon Valley investment ($100 million) and recently launched a wildly successful app for android phones. Ojo , CEO of VTNETWORK LIMITED , said, “VCASH is pleased to launch this international mobile money transfer service in collaboration with World Remit . What is exciting for us is that this is a marriage of innovators.”
Peter Ojo, CEO of VTN said’ “Our solution is a revolutionary system, which makes it convenient for Nigerians to receive payments. It is fitting that we have collaborated with WorlRemit, a leader in online global payment services, to allow Nigerians in Diaspora to direct money into the VCASH wallets or bank accounts of their loved ones and have this capability 24/7. The choice, flexibility and convenience – given the vast remoteness of some parts of our nation – are priceless.”
He added, “We are thankful to the Central Bank of Nigeria’s (CBN) mobile payment regulatory framework, which allows non-bank model operators to facilitate international remittances to both scheme and non-scheme recipients. Such innovation within its strict regulatory guidelines facilitates greater economic prosperity at all levels for all our citizens and residents.”