PEXBANK is a multichannel diaspora remittance fintech startup that aims to simplify remittance processes for verified users, enabling them to send and receive money seamlessly, quickly, and securely.
Its business model is built on the premise of channeling personal remittances from the diaspora to commercial settlements and other purposes, allowing its users to cut costs, save time, reduce cash handling, and tedious payment processes.
International migration from Nigeria and other African countries is common, with many people leaving their home countries in search of better economic opportunities or to escape conflict, persecution, or other forms of hardship. According to the International Organization for Migration, there were an estimated 36.7 million international migrants from Africa in 2020, accounting for around 9% of the global migrant population. Nigeria is one of the largest migrant-sending countries in Africa, with an estimated 2.4 million Nigerians living abroad in 2020, according to the United Nations. The top destinations for Nigerian migrants include the United States, the United Kingdom, and Canada, as well as other African countries such as South Africa and Ghana.
For migrants in the diaspora, sending money back home can be a challenge. However, PEXBANK provides a secure, cost-effective, and user-friendly remittance solution that eliminates high transaction fees, traditional remittance bottlenecks, and provides multiple payment options through a network of global payment facilitators in the diaspora.
PEXBANK’s peer payment platform simplifies transactions and allows its users to send and receive payments quickly and seamlessly.
PEXBANK is a game-changer for migrants in the diaspora because it provides them with a safe and reliable way to send money back home. One of the biggest challenges faced by migrants when it comes to sending money is the high cost of traditional remittance services.
PEXBANK addresses this challenge by offering low fees and competitive exchange rates.
Another challenge faced by migrants is the time it takes for money to reach its destination. With traditional remittance services, it can take several days or even weeks for money to reach its intended recipient. PEXBANK solves this problem by offering quick and seamless transactions that are completed within minutes or hours.
PEXBANK also eliminates the need for migrants to handle cash or engage in tedious payment processes. With PEXBANK, users can send and receive payments through multiple options, including bank transfers, E transfers, checkouts and cash pickups. This not only makes the process more convenient but also reduces the risk of fraud and theft.
The peer-to-peer payment industry is growing rapidly, with the global market expected to reach $2.1 trillion by 2023. PEXBANK is at the forefront of this trend, providing an innovative solution to the challenges faced by migrants in the diaspora when sending money back home. Its low fees, competitive exchange rates, and multiple payment options make it the ideal choice for anyone looking to send money home.
In conclusion, PEXBANK is empowering migrants in the diaspora to send money home seamlessly and securely. Its payment platform simplifies transactions and provides a cost-effective and user-friendly remittance solution. If you’re a migrant looking for a reliable and convenient way to send money back home, PEXBANK is the solution you’ve been looking for.