Korapay, a Lagos, Nigeria-based cross-border remittance solution provider, focused on connecting Nigerian migrants in the US and abroad with their relatives back home in Nigeria.
The firm, which is now open in 12 states in the US: Texas, Nevada, California, Pennsylvania, New York, Michigan, Georgia, Illinois, Florida, Connecticut, New Jersey & Massachusetts, claims it “has a record transaction delivery time of about 60 minutes”, allowing anyone in these 12 states to remit or transfer funds directly to any naira bank account in Nigeria. Furthermore, the payments solution provider claims its offer rates are up to six times cheaper than other alternatives out there in the cross-border payments market space.
Moreover, the firm has already announced its overseas expansion plans, looming just over the horizon, the firm plans to venture deep into the US economy and expand further into the remaining states. In addition to its expansion plans in the US, the Lagos-based firm announced to open branches in Canada, the United Kingdom, and Europe altogether in the coming weeks.
“At Korapay, we believe that Africa is the new frontier of financial opportunity. Our mission is to serve all of Africa via one single API. Through doing this we aim to create a seamless connection between Africa and global the financial system”, the firm states.