African Fintech firm, Payday unveils new product

Payday, Africa’s leading fintech company, is pleased to announce the launch of its new product, Cherry – the easiest, fastest, & most affordable way to send money from the US & Canada to Africa.

Cherry brings remittance a step closer. The aim of the new Cherry product is to help users in the US and Canada send money to Nigeria easily.

According to the world bank, sub-saharan Africa received over $49 billion in personal remittances in 2021 and most of the remittances were used for the purchase of daily necessities like food, healthcare, tuition fee, etc.

Cherry will gradually roll out in the US starting this month. Users will be able to send to Nigeria, and soon Ghana, Kenya, and the rest of Africa.

Cherry customers will have access to several payment methods including Cards, Apple Pay, Google Pay, ACH, and Stablecoins.

Cherry is partnering with Africa’s highest-valued startup, Flutterwave, which already supports cross-border transfers to 34 of the continent’s 54 countries. The partnership will help Cherry quickly comply with local regulations in its countries of operation.