Wednesday, September 22, 2021
More

    Must read

    Naija247news Editorial Teamhttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    Nairametrics

    Home Business News
    Business NewsCompanies
    Ecobank shakes up the competition, introduces low-cost remittance app
    By Emmanuel Abara Benson – November 20, 2018 0
    Ecobank Rapidtransfer
    Ecobank Headquarters, Lome,

    A new money remittance app called Rapidtransfer has been launched by Ecobank Transnational International. The app is said to make it easy and cost-effective for Nigerians abroad to send money home to their loved ones in Nigeria.

    Speaking recently in Lagos during the unveiling of the new app, the company’s Managing Director, Mr Patrick Akinwuntan, said the app was created out of the need to ensure that Nigerians get the best remittance service ever.

    He went further to state that not only is the Rapitransfer App cost-effective to use, it will also help to reduce the difficulties typically experienced by Nigerians in diaspora everytime they try to send money home.

    UBA
    “ECOBANK IS POISED TO ENSURE NIGERIANS IN DIASPORA GET THE BEST IN CLASS REMITTANCE SERVICE. WE WANT TO MAKE IT EASY FOR NIGERIANS LIVING ABROAD TO SEND MONEY TO THEIR LOVED ONES AT HOME INSTANTLY. TRANSFERS ON THE RAPIDTRANSFER APP ARE AT ZERO FEES FROM NOW TILL 31ST JANUARY 2019.

    “MANY NIGERIANS WORK ABROAD AND FINANCIALLY SUPPORT THEIR RELATIVES BACK HOME. THE APP IS A SAFE AND SECURE LOW-COST REMITTANCE SOLUTION, WHICH ULTIMATELY WILL PUT MORE MONEY INTO THE HANDS OF THE RECIPIENT AS THERE ARE NO CHARGES DEDUCTED.” -AKINWUNTAN

    Nairametrics checked out the much-touted app and its game-changing capabilities and to be fair, it looks good. It has a good user interface and four different language features including English and French from which users can choose.

    Users can also decide when and how they want to remit their money. They also have transparent exchange rates.

    But RapidTransfer will be operating in a highly competitive market
    In recent times, quite a number of Nigerian banks have gone into the digital money remittance business with hopes of taking advantage of the opportunities presented by it. Just this past June, FirstBank Nigeria went into partnership with World Remit to make it easier for Nigerians abroad to send money home.

    Other Nigerian banks soon afterwards partnered World Remit as well, including Fidelity Bank Plc in June, and recently Access Bank Plc.

    It is yet to be seen how Ecobank Transnational International will fare in this very competitive venture.

    Note that Ecobank is one of the biggest financial institutions in Nigeria and much of Africa. The company’s share price as of Friday, November 19th, was N16.

    TAGSEcobank Transnational Incorporated (ETI)Ecobank’s RapidtransferHow to remit money to NigeriaPatrick AkinwuntanWorld Remit
    Previous article
    Ecobank raises $200 million credit facilities
    Next article
    Nigerian banks’ assets and liabilities hit N36.2 trillion

    Emmanuel Abara Benson

    Home


    Emmanuel holds an MSc. in Political Science/International Relations from the University of Ibadan. He also graduated with a B.A in Philosophy from the same institution. He is experienced in such areas as Media/Communications, Administration and Nonprofit. As a Business Analyst at Nairametrics, he focuses on big corporations with equities listed on the Nigerian Stock Exchange. He also occasionally writes about the SMEs sector in Nigeria. In his spare time, he blogs on his personal website and writes manuscripts, one of which is in the process of getting published. Keep in touch with him via emmanuel.abara@nairametrics.com

    RELATED ARTICLES
    Nigerian stocks
    Oando tops volume chart as NSE opens in the green
    FRONT PAGE November 19, 2018
    Ecobank
    Ecobank releases Q3 2018 financial result
    COMPANIES October 24, 2018

    Josephone Anan-Ankomah appointed Ecobank’s GE, Commercial Banking
    BUSINESS NEWS August 23, 2018
    Ecobank
    H1 2018 Results: Ecobank Bank Plc posts N65.1 billion profit before tax
    COMPANY RESULTS July 20, 2018
    Ecobank
    ETI appoints Patrick Akinwuntan MD-Designate Ecobank Nigeria
    BUSINESS NEWS July 19, 2018
    Ecobank Rapidtransfer
    Ecobank may shift bond raise to next year
    BUSINESS NEWS July 13, 2018
    NO COMMENTS
    What’s your say?

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Nairametrics
    ABOUT US
    Nairametrics is a leading financial resource company based in Nigeria, with special focus on financial literacy, investor advocacy and business intelligence. Nairametrics.com was founded by Ugochukwu “ugodre” Obi-chukwu and is owned by Nairametrics Financial Advocates Ltd.
    Contact us: outreach@nairametrics.com
    FOLLOW US

    STOCKBROKERS FINANCIAL DEFINITIONS RSS
    © Copyright 2018
    🙂

    - Advertisement -spot_img

    More articles

    - Advertisement -spot_img

    Latest article

    WP to LinkedIn Auto Publish Powered By : XYZScripts.com