Alviere, a leading embedded finance platform, has announced a partnership with Onafriq, Africa’s largest digital payments network. This collaboration aims to facilitate payments and remittances from the United States to Africa. Onafriq connects a wide range of payment schemes, including over 500 million mobile wallets, more than 200 million bank accounts, and around 400 thousand small and medium businesses across Africa’s diverse payments ecosystem.
Cross-border payments are essential for many African families and merchants. Onafriq focuses on providing financial access across borders, aligning with its mission. The World Bank reported that remittance flows to sub-Saharan Africa reached $53 billion in 2022, highlighting the significant role of immigrants in supporting their families back home.
Onafriq chose Alviere for its comprehensive solutions, technical expertise, and robust approach to regulation and compliance. Alviere, with its licensed money transmitter status in the U.S. and its territories, is well-equipped to handle cross-border payments. Onafriq will use Alviere’s HIVE platform and regulatory framework to process U.S.-originating payments, ensuring compliance with Anti-Money Laundering [AML], sanctions, and fraud standards.
Dare Okoudjou, founder and CEO of Onafriq, stated, “We are proud to be a key part of the global effort to make sending a cross border payment as easy as making a phone call. With Alviere’s technology and regulatory coverage, and our extensive footprint across the continent, we will enable fast and secure remittances while facilitating financial access and economic prosperity for Africans.”
Pedro Silva, co-founder and CEO of Alviere, added, “Onafriq is uniquely positioned to be a global leader in fintech, 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.”