Alviere, a provider of embedded finance platforms, is thrilled to announce its collaboration with Onafriq, Africa’s digital payments network.
Onafriq has selected Alviere to enable payments and remittances from the United States to Africa. With a vast network encompassing over 500 million mobile wallets, 200 million bank accounts, and 400 thousand small-medium businesses across Africa, Onafriq plays a crucial role in the continent’s expanding but fragmented payments ecosystem.
Onafriq prioritizes facilitating cross-border payments to enhance financial access, with remittance flows to sub-Saharan Africa reaching $53 billion in 2022. Together with Alviere, they are pioneers in transforming traditional financial services, aligning with their shared mission to provide critical access to financial services and unlock economic opportunities across the continent.
For its comprehensive solutions, technical expertise, and robust approach to regulation and compliance. Alviere holds a unique position among embedded finance providers, being a licensed money transmitter throughout the U.S. and its territories, enabling cross-border payments from the United States. Leveraging the Alviere HIVE platform and regulatory framework, Onafriq will process payments originating from the U.S. and its territories in strict compliance with Anti-Money Laundering (AML), sanctions, and fraud standards for U.S. financial institutions, ensuring a seamless, safe, and secure experience for customers.
Onafriq’s CEO, Dare Okoudjou, expresses pride in simplifying cross-border payments globally through the partnership with Alviere. Leveraging Alviere’s technology and regulatory coverage, along with Onafriq’s extensive continent-wide presence, the collaboration aims to facilitate fast and secure remittances, promoting financial access and economic prosperity for Africans.
Pedro Silva, co-founder and CEO of Alviere, adds, “Onafriq is uniquely positioned to lead the global fintech industry, revolutionizing cross-border payments throughout the African diaspora.” We’re proud to be partnering with Dare and his team, our joint focus is to enhance financial access for all people regardless of borders, history, or current means. Together, Onafriq and Alviere will enable a variety of efficient, competitive payment options for millions of consumers.”