Equity Bank’s customers in Kenya and its other branches will soon enjoy a more convenient and affordable way to send and receive money globally. With a forecast of handling over $1 billion in transactions annually over the next three years, this partnership promises significant benefits for users.
Equity Group and Zepz, the company behind WorldRemit and Sendwave, have renewed their partnership to continue offering reliable and cost-effective international money transfers. This collaboration will benefit Equity’s clients in Kenya and its branches in Tanzania, Uganda, Rwanda, South Sudan, and soon the Democratic Republic of Congo (DRC).
Expanding Convenience and Affordability
The strengthened partnership will benefit Equity’s customers in Kenya and its subsidiaries in Tanzania, Uganda, Rwanda, South Sudan, and soon the Democratic Republic of Congo (DRC). Since their initial collaboration in 2018, Equity Group and Zepz have provided millions of users with secure and convenient digital money transfer services. The renewed agreement aims to further improve customer experience by integrating Zepz’s advanced technology with Equity’s extensive physical and digital banking network.
Streamlined Transactions
The collaboration targets one million transactions per month, allowing funds to be delivered directly into mobile wallets or Equity bank accounts. This seamless integration will leverage best-in-class APIs and solutions from Zepz, combined with Equity’s robust infrastructure, to ensure secure, timely, and cost-effective money transfers.
Dr. James Mwangi, Managing Director and CEO of Equity Group Holdings, highlighted the strategic vision behind this partnership. He stated, “This partnership aims to innovate payment solutions across Africa, supporting the Africa Recovery and Resilience Plan. By combining our strengths, we can revolutionize payments across the continent, enhancing cross-border trade and facilitating various types of payments, from person-to-person to business-to-business.”
Mark Lenhard, CEO of Zepz, shared his optimism about the partnership’s potential. “We are confident in the transformative potential this partnership holds for our customers in Africa. Leveraging Equity’s strong presence in East Africa, we aim to grow our market share and expand into new regions, offering unparalleled convenience and affordability.”
Customer Benefits
Zepz, through WorldRemit and Sendwave, ensures secure and swift fund transfers, providing customers with flexibility and competitive foreign exchange rates. The collaboration with Equity means that customers can enjoy the convenience of receiving money directly into their mobile wallets or bank accounts, backed by Equity’s reliable and extensive network.
