PayAngel Wins Innovations In Payments And Remittances Award
Nov. 1, 2022, 11 a.m.
Africa's fastest-growing remittance company, PayAngel, won the Social Impact Award at the just-ended Innovations in Payments and Remittances (IPR) Awards 2022 in London.
PayAngel, beat off fierce competition from TerraPay and MFS Africa, two of the biggest FinTechs in the payments and remittance space, to win the top award.
The Innovations in Payments and Remittances (IPR) Awards is a celebration of the money transfer community and the achievements of the industry’s most outstanding achievers. It recognizes exceptional leadership and innovations by Money Transfer Operators (MTOs), FinTechs, Banks, and Telcos in demonstrating a significant contribution to the Money transfer industry within the past five years.
They opened a Social Impact Award to all money service businesses that successfully embedded social objectives into their strategy and are positively impacting financial inclusion or the customers' know-how.
The shortlisted finalists in the category were MFS Africa, TerraPay, and PayAngel.
PayAngel was adjudged the eventual winner for the category for its innovations and contributions to the money transfer industry.
The Head of Growth at PayAngel, Joseph Elvis Lamptey, emphasized the company’s commitment to creating a positive impact through financial inclusion and payment innovations.
PayAngel provides cross-border payments that enable immigrants to participate in shaping the digital economic expansion of their home countries while positioning local businesses to capitalize on the cross-border commerce growth.
In his comments about the award, the CEO of PayInc Group, Jones Amegbor, shared his joy.
“we are thrilled to receive this award as proof of our socially responsive impact on the wellbeing of individuals who use our global multi-currency platform to send and receive international payments.”
We are committed to using our resources and talents to make positive changes within our communities. It’s a must and a duty, and we owe it to ourselves and the generations after us. Coincidentally, our goals align with the UN’s Sustainable Development Goals of reducing inequalities, poverty, and gender inequality while promoting decent work and economic growth as well as access to quality healthcare and education,” Jones Amegbor said.
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This award confirms that PayAngel is living up to its stated objectives. Over the years, the company has been instrumental in driving down the cost of remittances to Africa. From the start, the company committed to the UN SDG target with a promise to reduce the transaction cost of remittances to less than 3%.
PayAngel, Award
In echoes of the founding father of Ghana, Dr. Kwame Nkrumah, the founder of PayAngel, has been quoted as saying, “we want the cost reduction now, not in some distant future as suggested by the UN.” The company offers its customers the luxury of remitting at zero fees with highly competitive exchange rates.
In addition, as an industry first, PayAngel, through its insurance partner, offers a unique value-added service – RemitCare, a life insurance solution to beneficiaries of its remittance service in Ghana. The innovations the company is driving in the industry and the impact on the lives of ordinary people within the community make PayAngel deserving of the Social Impact Award.
tag: London, PayAngel, Payment, ghana, Remittance, Innovation,
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