MFS Africa, a digital payment network and partner of Ripple, has recently launched a partnership with Access Bank to expand the latter's AccessAfrica remittance corridor. This will enable easier transfers of money to families in foreign countries as well as real-time payments for businesses. Access Bank's Senior Banking Advisor Robert Giles noted that the cross-border payment system provided by the partnership will benefit customers by allowing them to pay and be paid easily. Likewise, CEO of MFS Africa Dare Okoudjou mentioned the partnership would grant Access access to 130 African financial institutions with more than 400 million mobile wallets.

Through its collaboration with Ripple, MFS Africa is set to implement the On-Demand Liquidity (ODL) tool to enhance their new venture. ODL is renowned globally due to its ability to offer instant settlement while using XRP as the bridge between two nations’ fiat currency. Already, the Western Union Company has become part of the MFS Africa network, allowing customers to send money from any part of the world to mobile wallets provided by MFS Africa.

It is clear that MFS Africa and Ripple are both powering financial inclusion in Africa. Their various partnerships are giving customers greater access to financial services and providing more efficient cross-border payment solutions for consumers and corporate entities. The current partnership between MFS Africa and Access Bank marks another milestone for both organizations as well as Ripple, whose ODL solution continues to prove its worth in boosting economic inclusion.



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