Nigerian financial technology startup LemFi has teamed up with Visa to enhance cross-border transactions in China, India, and Pakistan, three of the global powerhouses. By integrating LemFiâЄ™s innovative range of economical solutions with VisaâЄ™s global expansive payment network, the two groups hope to create a superior way for people and enterprises to move money worldwide. Since its establishment in June 2020, LemFi has increased its user experience from concept to implementation, receiving over $33 million in backing to provide a solution to simplify remittances for immigrants. The business has evolved to include cross-border payments in more than 30 different countries. With VisaâЄ™s collaboration, the company is currently providing debit and prepaid debit card solutions to more than 250,000 people in the UK and EMEA.
Founded in 2020, LemFi has secured over $33 million in funding to simplify remittance processes for immigrants. They've already expanded their services to facilitate cross-border payments in over 30 countries. This new collaboration with Visa will further empower LemFi to provide debit and prepaid debit cards to over 250,000 users across the UK and EMEA (Europe, Middle East, and Africa) regions.
The LemFi-Visa partnership is expected to bring positive economic developments and strengthen financial ties between these major economies.
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