Equity Group and Zepz Renew Partnership to Boost International Money Transfers

Read Time:2 Minute, 32 Second

Equity Group and Zepz, the driving force behind the major global remittance brands WorldRemit and Sendwave, have declared the continuation of their longstanding partnership.

This renewed agreement highlights their dedication to offering Equity Group members in Kenya, Tanzania, Uganda, and soon the Democratic Republic of Congo (DRC), Rwanda, and South Sudan, with secure, convenient, and cost-effective international money transfer services.

The collaboration between Zepz, formerly known as Paga Group, and Equity Group began in 2018, originally established through Equity Bank Kenya. This partnership has enabled millions of customers worldwide to send and receive digital money transfers by utilizing the extensive partner network within the Equity ecosystem.

The new agreement leverages Zepz’s top-tier APIs and integration solutions, along with Equity Group Holdings’ strong digital and physical payout networks across their six banking subsidiaries.

This partnership ensures the smooth transfer of funds directly into mobile wallets and Equity bank accounts, aiming for one million transactions per month.

See Also: Kenyan Banks Serve 39 Million Customers, New Survey Finds

Dr. James Mwangi, Managing Director and CEO of Equity Group Holdings, commented on the renewed partnership with Zepz, highlighting its strategic importance. He stressed their shared vision of pioneering innovative payment solutions for Africa.

“This partnership, rooted in deliberate intent and purpose, signifies our shared strategic vision to pioneer innovative solutions in the payments space for the African continent. By harnessing the unique competencies and capabilities of both institutions, we aim to revolutionize payment solutions across the continent as a support to achieving the Africa Recovery and Resilience Plan. This partnership will enable us to facilitate trade linkages across the region by enabling person-to-person, person-to-government, person-to-business, and business-to-business payments.” Dr. James Mwangi said.

Dr. Mwangi further emphasized the timeliness of this partnership as the region develops into Africa’s most integrated economic zone.

“As our operational region evolves into the continent’s most integrated area, this partnership couldn’t have come at a better time. We envision it as a catalyst for further integration and reliable services, particularly enhancing cross-border trade by leveraging the synergies between Equity and the Africa Free Continental Trade Area.” he added.

See Also: Equity Bank Tanzania Unveils Mwanamke Plus Program

Zepz CEO, Mark Lenhard, expressed confidence in the partnership’s potential to enhance the adoption of WorldRemit and Sendwave remittance services in the region.

“We have a resolute conviction in the transformative potential this partnership holds for our customers transferring money into and across the Africa region. We look forward to leveraging Equity’s position in Kenya and throughout the East African Community to grow our market share and further expand into new countries with Equity as it continues to grow its footprint across Africa.” he said.

Zepz’s digital platform ensures secure and rapid money transfers, while their broader network through WorldRemit and Sendwave offers greater flexibility for senders. Customers can opt to receive funds directly into their Equity Bank mobile wallets or bank accounts and benefit from competitive foreign exchange rates.