Flutterwave has partnered with Xoom, PayPal's international money transfer service, to simplify cross-border remittances into Nigeria. The collaboration will allow users around the world to send money directly to Nigerian bank accounts, combining Xoom's global reach with Flutterwave's local payment infrastructure to deliver faster and more reliable transfers.

Faster Transfers into Nigerian Bank Accounts

Under the partnership, funds sent through Xoom will be converted and settled locally by Flutterwave in naira (NGN). Recipients will be able to receive money directly into accounts at major Nigerian banks, including Access Bank, United Bank for Africa (UBA), Zenith Bank, First Bank of Nigeria, Guaranty Trust Bank and other participating financial institutions.

The integration is expected to improve the speed and efficiency of international money transfers while reducing friction for Nigerians receiving funds from abroad.

Addressing Nigeria's Growing Remittance Market

Nigeria remains the largest recipient of personal remittances in Sub-Saharan Africa, receiving more than $20 billion in remittance inflows in 2024. However, international transfers have often been affected by foreign exchange constraints, settlement delays and payment complexities.

By combining Xoom's international transfer network with Flutterwave's local banking relationships and compliance capabilities, the partnership aims to make remittances more accessible for individuals and businesses across the country.

Supporting Families, Freelancers and Businesses

Flutterwave Founder and Chief Executive Officer, Olugbenga "GB" Agboola, said the collaboration reflects the growing importance of cross-border payments in Nigeria's economy.

According to him, millions of Nigerians depend on international payments to support their families, receive freelance earnings and participate in the global digital economy. The partnership is intended to make receiving those funds faster, simpler and more dependable.

Strengthening Africa's Digital Payments Ecosystem

The agreement also supports Nigeria's expanding digital economy, where the ICT sector is projected to contribute 21% of GDP by 2027. As demand for seamless international payments continues to grow, stronger payment corridors are becoming increasingly important for financial inclusion and economic participation.

Xoom currently enables customers to send money, pay bills and top up mobile phones across approximately 160 markets worldwide. Through this partnership, it expands its presence in Nigeria while leveraging Flutterwave's local payment infrastructure to improve cross-border payment experiences.

Why It Matters

The partnership highlights the continued evolution of Africa's digital payments ecosystem, where fintech companies are increasingly collaborating with global financial platforms to improve remittance services. With international transfers playing a vital role in household income and business activity, faster and more reliable payment channels could help strengthen financial inclusion and support Nigeria's growing digital economy.