Pesa Announces Global Expansion and Innovations in Digital Remittance Services

Pesa is thrilled to announce our ongoing global expansion and the introduction of innovative remittance solutions designed to provide fast, affordable, and reliable cross-border money transfer services. This marks a significant step in our mission to transform the remittance industry and offer seamless financial services to users worldwide.

"With our multi-currency wallet, you should keep on transacting when you move to a new country," Osho continued. "If I leave Nigeria for Canada, there shouldn’t be any sort of break in transmission with respect to how I view financial services. I should be able to transact back at home like I really never left."

We are in the final stages of acquiring the necessary licenses to launch in the United States, following our recent debut in 27 European Union countries. Pesa is also present in the U.K. through a partnership while working to secure an Electronic Money Institution (EMI) license. This license will provide full banking functionality, allowing us to offer more affordable services, issue and hold e-money on behalf of customers, and develop new products.

The timing of Pesa’s growth aligns with a significant increase in remittances to low-and-middle-income countries (LMICs), which rose by 38% over the past six years, reaching $656 billion by the end of 2023. The World Bank predicts further growth in 2024 and 2025, driven by the demand for fast, affordable, and reliable remittance services. Digital tools are expected to continue accelerating remittance activities by reducing transaction costs and enhancing access to formal money transfer channels.

For more details on our vision, growth and future plans, read our latest TechCrunch feature.