Pesa is taking its cross-border payments business to Australia
- In Q2 2024, the average cost of sending remittances to Sub-Saharan Africa was recorded at 8.37%, the highest regional average by the World Bank.
- Pesa, founded in 2021, has rebranded from PesaPeer and is expanding its services to Australia.
- The Australian corridor allows customers to send money to Nigeria and other countries, enhancing dual-directional transfers.
Pesa's entry into the Australian market represents a significant opportunity to address the gaps in cross-border remittance services for the African diaspora. By leveraging local liquidity and regulatory compliance, Pesa could redefine the remittance landscape, but it will need to continuously innovate to stay ahead of established competitors.
