Nigeria’s Flutterwave Partners PayPal Xoom, Enhancing International Money Transfer in Africa.
Nigeria’s Flutterwave, has partnered with Xoom, PayPal’s international digital money transfer service, to enable faster international money transfers into Nigeria.
The partnership connects Xoom’s global money transfer network with Flutterwave’s local payout infrastructure. This will allow customers worldwide to send funds directly to Nigerian bank accounts with local settlement in naira.
Under the arrangement, Flutterwave will convert Xoom transfers and settle them locally. This will enable recipients to receive funds directly into accounts held via the following banks: Access Bank, United Bank for Africa, Zenith Bank, First Bank of Nigeria, Guaranty Trust Bank and other participating banks.
Nigeria: A Remittance Giant in Africa!
Nigeria is one of Sub-Saharan Africa’s largest remittance recipients, receiving more than $20 billion in personal remittances in 2024. However, international payments have historically been affected by foreign exchange constraints and settlement delays.
Flutterwave believes that the partnership aims to address those challenges by combining Xoom’s international reach with its local compliance capabilities. As well as banking partnerships to simplify cross-border money transfers into Nigeria.
Xoom enables consumers to send money, pay bills and top up mobile phones in approximately 160 markets worldwide. It is part of PayPal’s global payments ecosystem.
Olugbenga Agboola, founder and CEO of Flutterwave, “Millions of Nigerians rely on money from abroad to support everyday needs. Whether it’s families receiving help from loved ones, freelancers getting paid for their work, or individuals earning income from the global economy. This partnership makes it easier and more reliable for people in Nigeria to receive funds and stay connected to opportunities beyond borders.”
The collaboration expands Flutterwave’s cross-border payments infrastructure and strengthens access to international remittance services in one of Africa’s largest payments markets.
