Paylnc Group, operators of PAYANGEL Money Transfer, have joined forces with UNCDF to scale up its flagship Direct to Merchant Remittances (D2MR) solution. The D2MR is an enabler for remitters in the diaspora to pay for goods and services directly, conveniently and securely in Ghana.
The partnership, funded under the European Union’s Boosting Green Employment and Enterprise Opportunities in Ghana project, seeks to scale up diaspora investments in the Ashanti and Western Regions through direct remittances to merchants in the Financial Services, Education and Health sectors. This will make it easier for merchants – including returning migrant businesses of all sizes and industries – to collect payments and transfers, and allocate them appropriately.
This is in line with the United Nations’ Sustainable Development Goals on Remittances, which Paylnc Group commits to, and under this project, will focus on SDG 3 – Good Health and Well-Being, SDG 4 – Quality Education, SDG 5 – Gender Equality, SDG 8 – Decent Work and Economic Growth, SDG 10 – Reduced Inequalities, and SDG 17 – Partnership for Goals.
PayAngel will use this project as a scalable preparatory platform to educate returning migrant businesses and merchants with diaspora relations. The solution further opens new markets for merchants to sell their products and services.
Jones Amegbor, CEO of Paylnc Group, said: “We are building a global platform that enables immigrants to participate in shaping the digital economic expansion of their home regions while positioning local businesses to capitalise on the cross-border commerce growth.
“Our simple, fast and direct payment solutions at scale will allow Africans everywhere on the globe to make transfers and pay for everything at zero fees without the risk of fund diversion. The simplicity and innovation offered by PayAngel within the digital payments processing space will allow merchants to easily process payments from the diaspora with value added service.”
We are excited to be partnering with the UNCDF to expand on this first in the market product in a bid to achieve our goal to connecting Africans to their home countries using technology that delivers transfer and payments speedily to recipients in Africa.
The Boosting Green Employment and Enterprise Opportunities in Ghana (GrEEn) is a four-year action from the European Union, the Embassy of the Kingdom of the Netherlands in Ghana, UNCDF and SNV. The project aims at creating greater economic and employment opportunities for youth, women and returning migrants by promoting and supporting sustainable, green businesses in selected regions (Ashanti and Western).