Flutterwave Expands Xoom Money Transfers to Nigeria
Quick Reads:
- Flutterwave Xoom transfers now connect to major Nigerian banks including Access Bank, UBA, Zenith, First Bank, and GTBank
- Nigeria received more than $20 billion in personal remittances in 2024
- Xoom operates in roughly 160 markets worldwide as part of PayPal’s payments network
- Flutterwave handles local currency conversion and naira settlement for every transfer
Nigerians receiving money from abroad just got a faster, more reliable option. African payments company Flutterwave has announced a new partnership with Xoom, PayPal’s international money transfer service, bringing the Flutterwave Xoom transfers pipeline directly into Nigeria’s banking system.
The deal links Xoom’s global transfer network with Flutterwave’s local payout infrastructure, meaning senders anywhere in the world can now push funds straight into Nigerian bank accounts, with Flutterwave converting and settling the money locally in naira. Recipients can collect funds at major banks, including Access Bank, United Bank for Africa, Zenith Bank, First Bank of Nigeria, and Guaranty Trust Bank, among other participating institutions.
The timing matters. Nigeria is one of Sub-Saharan Africa’s biggest remittance destinations, pulling in more than $20 billion in personal remittances in 2024 alone. But sending money into the country hasn’t always been smooth, foreign exchange constraints and settlement delays have long frustrated both senders and recipients. That’s the exact friction Flutterwave Xoom transfers are designed to cut down on, by pairing Xoom’s international reach with Flutterwave’s compliance systems and existing banking relationships.
Flutterwave founder and CEO Olugbenga Agboola said the move is about keeping people connected to income and support from beyond Nigeria’s borders. “Millions of Nigerians rely on money from abroad to support everyday needs, whether it’s families receiving help from loved ones, freelancers getting paid for their work, or individuals earning income from the global economy,” he said. “This partnership makes it easier and more reliable for people in Nigeria to receive funds and stay connected to opportunities beyond borders.”
Xoom already serves customers across roughly 160 markets, letting people send money, pay bills, and top up mobile phones as part of PayPal’s broader global payments ecosystem. By plugging into Flutterwave’s Nigerian infrastructure, that reach now extends further into one of Africa’s largest and most active payments markets, a signal that cross-border remittance corridors into Africa are only getting more competitive.
