Digital money transfer provider SimbaPay is providing a free money transfer service from the U.K. to Nigeria, a popular market for new mobile payment plays.
Nigerians living in the U.K. can download the SimbaPay app or use its website to send money to any bank account or mobile phone in Nigeria instantly, SimbaPay stated in a May 22 press release.
SimbaPay users link a bank account, debit or credit card to their SimbaPay transfers, which can take place through any mobile phone, tablet or computer.
Transfers made using SimbaPay are credited within seconds to a recipient's bank account or mobile money wallets.
London-based SimbaPay plans to roll out the service to Nigerians living in other European Union countries.
Were excited by the launch into Africas largest economy, Nyasinga Onyancha, CEO for SimbaPay, said in the release. Its awesome to be eliminating high money transfer fees for Nigerians in the U.K. who are sending money to their loved ones."
SimbaPay provides daily locked-in exchange rates for the Nigeria naira currency. The app is available in the Apple and Google Play stores.
Earlier this year, MasterCard partnered with African mobile banking and payment services company eTranzact International to provider Nigerians with an option for international transactions transfers to bank accounts or mobile wallets.
Payments providers have been targeting Nigeria and other parts of Africa and Asia with payment schemes that promote more access to financial services and easier access to money.