Money remittance companies are an integral part of how money moves to Africa; on countless occasions, people have to send money back home to Africa and remittance companies are their preferred avenue to reach out to their people back on the continent.
However most formal markets for money transfer in Africa are relatively young and encounter challenges typical of emerging markets.
Money remittance in Africa
Africa’s money remittance business is worth over 40 billion dollars with more companies coming into the field to combat the monopolies that were Western union and Money gram. The advantage that the two original remittance providers (western union and money gram) have is the availability of resources to reach out to most if not all countries in Africa.
The case is different for the new remittance hopeful businesses in the industry, penetration can be a challenge as they aim to capture a bigger market share most of which is dominated by the earlier mentioned monopolies.
Remittance companies are given the advantage of being able to reach out to payment systems convenient to people in Africa when they incorporate with the platform that DUSUPAY provides which gives them an upper hand in capturing an even larger market share.
With the help of DUSUPAY, remittance companies can bridge the distribution gap with the mobile wallets that a bulk of the populace use and channel their services through this avenue.
How is this possible
All remittance companies have to do is, integrate with DUSUPAY and from then on they will be able to pay out to any mobile money system across Africa,eliminating the need to have many branches Africa wide but instead carry out their remittance duties while letting DUSUPAY pay out for them to their clients’ mobile money.