XLink Communications, a Vodacom subsidiary, has launched XLink Send, a solution that enables cross-border payments, which is crucial for African families and communities who rely on remittances.
XLink Communications, which provides payment networks and services, says the move is in response to the ongoing financial inclusion crisis in Africa
The company, led by Dr. Thanusha Govender as CEO, says its new service addresses the significant difficulties faced by more than 45% of unbanked people in the region.
“High fees and lengthy processes often obstruct vital financial transactions, limiting access to essential services,” says XLink Communications.
To this end, the company says XLink Send aims to break down these barriers by offering “a flexible solution with partners such as financial institutions, telcos, retailers and fintech that streamline cross-border payments, enabling users to send money directly to bank accounts, mobile wallets, or cash pickup points.”
This initiative, according to the company, comes at a pivotal moment, as remittances play a critical role in supporting households and bolstering local economies.
It adds: “By significantly reducing transaction costs and simplifying processes, XLink is not only enhancing the efficiency of remittance flows, but also empowering individuals and businesses to thrive in a challenging financial landscape.”
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