GUBA Interviews: PayAngel Money Transfer.


Individual remittance is a $600bn business according to the World bank, with almost $40bn of this headed to Sub-Saharan Africa. Data from African Central Banks indicate that this number may actually be very highly understated, with some recording more than twice the official world bank number. Remittance to Africa especially is a major contributor to GDP and improving people’s welfare.

Despite the strong impact of remittance on the welfare of people in developing countries, cost of remittance can be high. Remittance to Africa, where today there is no sub-market specialist, can be up to 30% more expensive compared to the global average.

PayAngel, a new technology driven Africa focused remittance company aims to considerably reduce the cost of remittance to Africa and provide an inclusive, modern, efficient and total value driven payments solutions to Africa.

We sat down with PayAngel to find out why they are one of the best money transfers services to Africa

What inspired the setup of PayAngel?

The vision to make remittance convenient and suited to the African setting. This is really the brainchild of our CEO, Jones Amegbor. The idea that would spawn PayAngel germinated from Jones’ frustration with the existing money transfer market, which was fraught with structural deficiencies such as high costs (Africans pay about 9.5% vs. a global average of 7.5%), unnecessary hassles, and inherent inconveniencies that affect Diasporans of all creed and colour. The market was and still is, characterised by generic platforms devoid of consideration for the peculiar characteristics and needs of the African remitter. Product innovation is not well suited for the African setting. Take for instance a situation where you want to send money to more than one person back home. The available methods were either to send to one person for that person to redistribute, or send to each person and pay a separate fee for each, thereby significantly increasing your cost. Then finally, most remitters serving the African market did not provide an easy online option and easily reachable customer service. As a result, the vision was to start a service that understands and solves the specific problems of African remitters. This vision was achievable by minimising unnecessary capital-intensive overheads and investing instead in a scalable technology platform.

What sets PayAngel apart from other remittance services?

We are an African business innovating and solving the specific payment needs of the African community. We differentiate by excelling in the key drivers of demand in the African community: Price, Innovation, Convenience and Affinity. While there are brands that cater for one or two of these drivers, there is no brand that caters for all. With our laser focus on Africa, PayAngel leverages the expertise of its founders and team to deliver very competitive prices, great product innovation (like our multi-save feature) & Convenience (multiple ways to fund your transactions and receive remittances). In addition to all these, we bring a personal touch to our service and leverage our robust technology and security infrastructure to provide safe, convenient and straight-through processing of all transactions. Our service promise guarantee is backed by PayAngel’s customer charter ensuring customer service continues to remain a priority for every person in the company.

IMG-20160726-WA0000How does remittances from PayAngel work?

You can either use our website ( or download our app which will soon be available on Google Play and Apple Store. Registering is easy, and unlike other services, we do an instant online validation of our customers. You can fund your remittance either with a debit card, credit card, online banking or normal bank transfer. Recipients receive the funds same day either in cash from one of our partners or into any bank/mobile money account in Ghana.

What is the company’s vision for money transfers/remittances for the next 10 years?

Our vision is to be the leading payments solutions provider for Africa and we hope to do this by leveraging technology to create inclusive, modern, efficient and total value driven payments solutions.  In the next 10 years, Africans living out of Africa should be able to send money home, open a bank account back home, pay for goods and services back home and execute all financial transactions in their home country as if they were actually there. That is our goal.

Current countries PayAngel sends to and plans for future ones

We currently operate the UK to Ghana corridor. In the next two weeks, we will be operational from some key EU countries to Ghana. We plan to open up other African countries in the next few months, and North America by the end of the year.

Any promotional offers?

Anyone that registers with GUBA01, get their first transfer for free. Also importantly, we have created the PayAngel Rewards scheme ( ) that allows them to also earn money when they recommend

We urge you all to use this innovative, affordable and secure money transfer service! visit for more.

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