The new Central Bank of Nigeria (CBN) policy allows beneficiaries of remittances to receive inflows in foreign currency through commercial banks, either as cash over the counter or electronically to their domiciliary accounts. In light of this change, Nigeria’s long-standing leader in fintech innovation, Ibadan-based VTNetwork Limited, announced it has delivered on CBN’s instructions and started payment of forex remittances into Nigeria for all international money transfer operators partners of its VCASH service.
The hybrid model allows bank partners to either integrate via a single and efficient API or to use a stand-alone platform. …
Nigerians will soon benefit from the decision of the Central Bank of Nigeria (CBN) to allow remittance recipients direct access to the US dollars sent to them from loved ones and business associates overseas.
The new CBN policy allows beneficiaries of remittances to receive inflows in foreign currency through agent banks over the counter or electronically to their domiciliary account. In light of this change, Nigeria’s long-standing leader in fintech innovation, Ibadan-based VTNetwork Limited, announced it will deliver on CBN’s instructions and start payment of forex remittances into Nigeria for all international money transfer operators partners of its VCASH service.
Send money to over 220 financial Institutions, over 60 million bank accounts, and all mobile wallets in Nigeria using VCASH Global API. Run every transaction over OFAC /EU global database. Pull KYC of recipients from the Bank using our robust API. Incentivize customers in a compliant way — Do reverse marketing to over 6 million customers, all for a fraction of your current cost.
The Nigerian financial technology firm, VTNetwork Limited, announce a major improvement to the global API released in 2015 to now include over 220 financial institutions and over 40 countries outside Africa.
According to the…
The Association of Licensed Mobile Payments Operators (ALMPO), an organization that interfaces with the Central Bank of Nigeria, elect Emmanuel Oni of VTNETWORK LIMITED as the Social and Welfare Officer for the association.
VTNGLOBAL, INC, a USA licensed issuer of payment instruments and money transmitter, is partnering with a bank in the USA to unlock diaspora remittance opportunities. The company, together with Remco, the distributed ledger arm of the company, and VCASH, the emerging market sister company, to pilot mobile wallet app that improves on the efficiencies of money transmission by empowering financial institutions, SMEs, and consumers in the emerging markets and developed economies.
“At least 1 in 3 immigrants from Africa’s largest market have had their money sent through our API at some point, but these immigrants themselves are not aware of…
VCASH accepted the invitation (CPD/DIR/GEN/CES/04/063) by the Central Bank of Nigeria to join hands in commemorating the 2019 World Savings Day.
The World Savings Day is a program that was established since 31st October, 1924 by World Society of Savings Bank in Milano, Italy, during the international Savings Bank Congress. The objective is to stress the importance of savings for modern economies and individuals alike. The day is celebrated worldwide on 31st of October every year.
The 2019 World Savings Day with the theme: “Savings Give Life a Lift” would be celebrated across the world on October 30, 2019. …
The Central Bank of Nigeria (CBN) in its recently released circular on the implementation of the cashless policy has stated that in addition to already existing charges on cash withdrawal, charges will now apply on Naira cash deposits in Lagos, Ogun, Kano, Abia, Anambra, Rivers states and the FCT.
This directive from the CBN is effective 18 September 2019.
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While the first Cryptocurrency Bitcoins has changed our world, the promise of remittance Blockchain is yet to be realized if most of the recipient of money in developing countries and senders still prefer Fiat. The real use case for Bitcoin is a long way because of the technicalities and cost of acquiring and…