LemFi, a UK-headquartered international payments company, and Visa Cross-Border Solutions, a division of Visa specialising in cross-border money movement, have recently inked a deal aimed at expanding LemFi’s global footprint.
This strategic partnership is poised to propel LemFi into new markets across the world, including China, India, and Pakistan, positioning Visa Cross-Border Solutions as its principal ally in facilitating cross-border transactions.
The essence of this partnership lies in its capacity to extend LemFi’s operational reach globally, enabling the firm to tap into several burgeoning markets. With Visa Cross-Border Solutions by its side, LemFi will now also be able to offer debit and pre-paid debit cards to over 250,000 users in the UK and EMEA regions.
LemFi has established itself as a leader in international payments, dedicated to delivering innovative payment solutions and services for emerging market immigrants. Its mission revolves around improving the financial lives of the next generation of immigrants, providing accessible and transparent financial services through a mobile app. On the other side, Visa Cross-Border Solutions excels in the realm of cross-border money movement, leveraging its global network to facilitate seamless financial transactions across borders.
In addition to expanding LemFi’s market reach, the partnership will see Visa Cross-Border Solutions continue as the preferred provider of e-payments and foreign exchange services for LemFi. This entails supporting the remittance of funds for hundreds of thousands of UK-based citizens from various African countries, underscoring the impact and significance of remittances in these regions.
Ridwan Olalere, CEO and Co-founder of LemFi, emphasized the strategic synergy between the two firms, stating: “The combination of our expertise and our technology platform puts us in a very strong position to expand internationally in the coming months and years. Visa’s speed-to-market, transparency and scalability will be instrumental as we extend our services worldwide.”
Echoing this sentiment, Piers Marais, Head of Product at Visa Cross-Border Solutions, highlighted the transformative potential of this partnership. Marais said, “LemFi is doing incredible work with nationals from countries in Africa – and we know the enormous impact that remittances have in that part of the world.
“The next step for them to grow as a business is for them to take that expertise and apply it globally. We’re so excited to be on that journey with them”.
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