Officially, Thrivesend, a card to account money transfer service has launched in Nigeria. The official launch of the platform was initiated by Ventures Garden Group.
Venture Garden Group (VGG) is a large Fintech investment holding company that provides innovative, data-driven, end-to-end technology platforms addressing reconciliation and payment processing inefficiencies across multiple sectors of the African economy.
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Thrivesend which just got its official launch has been around for a while. Just as i said earlier, the platform is a card to account money transfer service that allows easy transfer of funds from local or international Mastercard, Visa or Verve cards to legitimate Nigerian bank accounts.
Transactions ranging from the lowest denomination to N100,000 can be done on the platform, that is, N100,000 is the maximum amount transferable on the platform. The charge for a single transaction is at a very low N45!
Venture Garden Group’s CEO, Bunmi Akinyemiju stated that the affordable service offered by Thrivesend’s platform will make card to account transactions to be conducted better and easily.
“Remittances accounts for a huge portion of sub-Saharan Africa’s GDP, but even with over $30 billion coming into Africa — and a significant fraction of that coming to Nigeria — the cost of sending money home is expensive. Moreso, very few local players are offering an affordable service compliant with CBN’s regulations,” said Akinyemiju.
He added, “Leveraging Flutterwave’s Technology, ensures that we are able to provide a home-grown, affordable, compliant and secure solution for Nigerians in Nigeria and the diaspora.”
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Well, there’s also news that Flutterwave introduced Thrivesend platform before. Although, this can be seen that it wasn’t an official launch then. So, there’s a probability that VGG was actually using the Flutterwave’s ideology to push the platform. It shouldn’t also be ignored that Venture Garden Group has several fintech firms under its umbrella which includes Flutterwave.
The Thrivesend service is now open for users to access on web, Android and iOS platforms.