BOSS Money and UBA partner to expand remittance options in Nigeria

By Edlyn Cardoza

BOSS Money, the money remittance and payments brand of IDT Corporation, and Africa Global Bank (United Bank for Africa), a pan-African financial institution, announced a collaboration to expand disbursement options for money transfers from the U.S. to Nigeria. The partnership will enable BOSS Money customers to send U.S. dollars for direct deposit at any of Nigeria’s approximately 20 million United Bank for Africa (UBA) accounts.

“Our collaboration enables BOSS Money customers to send money to the UBA bank accounts of family and friends in Nigeria for receipt in a matter of minutes,” said Alfredo O’Hagan, IDT’s SVP for Consumer Payments. “We are delighted to partner with UBA, a trusted leader in personal banking services, to power convenient, reliable, affordable, and timely money transfers to Nigeria.”

UBA’s Head of Personal Banking, Ogechi Altraide, said, “Our alliance with BOSS Money enables customers to enjoy stress-free, seamless transfers to Nigeria. We are very optimistic that our collaboration will significantly enhance remittances to our millions of customers across Nigeria.”

Through the partnership, BOSS Money customers can transfer up to US$100 to Nigeria for as little as US$3.99 or up to US$2,999 for as little as US$6.99 when using the BOSS Money or BOSS Calling apps. BOSS Money now offers remittances from the U.S. to 50 countries via 1,300 payers at over 315,000 cash pick-up locations, in addition to mobile money and direct deposit services.

IBS Intelligence reported that IDT Corporation had announced that its BOSS Money remittance service offers direct deposits to approximately 40 million accounts across Ethiopian banks. The expanded service, powered by Terra Pay, enables BOSS Money customers in the United States to send cash directly to the bank accounts of family and friends in Ethiopia for receipt within minutes.