Why should Africa incur more on remittances when they can tap into mobile wallets

By March 20, 2018Blog Posts

It is quite unfortunate that countries such as South Africa, Nigeria, Kenya and Uganda (just to mention but a few) which command large volumes of money in remittance sent home every year have to incur outrageous costs to have this money delivered back home where those it is needed the most.

These high costs are always stretching the sender and at most times, it eats into the amount one intended to send in the first place.

Migrants sending money back to Africa have been reported to pay the highest fees, at 9% of every $200 as a comparison out of the world’s major 5 regions of interest. The reason for this mainly lingered around uncharacteristic payment habits such as use of bank structures that many locals don’t subscribe to and lack of enough competition to ensure that companies don’t exploit the demand that Africa has.

Why pay more when you can pay less with Mobile wallets

The reason majority of Africans don’t use banks is because they have mobile wallets that are more convenient to use, even for those in the remotest of places where banks aren’t located, little or no paperwork and the fact that one incurs way less to send money.

The fact that the rest of the world doesn’t use mobile money has not deterred people from receiving their remittances through mobile money.

How is this done ?DusuPay has enabled remittance companies to avoid using banks in places where they aren’t needed but rather focus on ensuring that clients receive the money sent on their mobile money accounts.

DusuPay helps remittance companies pay out to Africa’s mobile money while enabling the same companies use banks in the handful of African nations that choose to go with banks such as South Africa and Nigeria.

Because DusuPay understands how Africa chooses to pay, they provide a more streamlined approach for remittance companies to tackle Africa.

Check out – DusuPay Octopus