Visa Cross-Border Solutions, a Visa (NYSE: V) division specialising in cross-border money movement, and LemFi, a leading international payments company, have signed a deal that significantly expands their existing partnership globally.
The deal will enable LemFi to extend its reach into new markets around the globe including China, India & Pakistan, with Visa Cross-Border Solutions becoming its primary partner in facilitating cross-border transactions. The partnership will also allow Visa to provide debit and pre-paid debit cards to over 250,000 users in the UK and EMEA regions.
Ridwan Olalere, CEO and Co-founder of LemFi, said: “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.”
The cross-border money movement specialist will also continue as the preferred provider of e-payments and foreign exchange services for LemFi, supporting the remittance of funds for hundreds of thousands of UK-based citizens from various African countries.
Piers Marais, Head of Product at Visa Cross-Border Solutions, 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”.