The importance of remittances and cross-border payments cannot be understated in Africa. According to the World Bank, remittance flows to sub-Saharan Africa are expected to have increased by about 1.9 per cent in 2023 to $54billion. Onafriq selected Alviere for its breadth of solutions, technical expertise and sound approach to regulation and compliance.
Alviere is positioned to enable cross-border payments from the United States as a licensed money transmitter throughout the US and its territories. Onafriq will leverage the Alviere HIVE platform and regulatory framework for processing payments originating from the US and its territories in strict compliance with anti-money laundering (AML), sanctions.