Consolidated Bank Ghana Limited (CBG), has signed an agreement with PayAngel, a subsidiary of PayInc Group Limited, which will allow their customers access to remittance funds at any CBG location nationwide.
CBG is an indigenous Ghanaian Bank with strong financial standing, a technology-led and innovative bank with solutions that deliver superior customer service across 114 branches throughout Ghana.
Backed by strong corporate governance, CBG has entrenched its name and brand as one of the largest and leading banks in Ghana, reporting strong profits over the years.
PayInc Group Limited, trading under the name PayAngel, is a digital remittance and payment company founded in the United Kingdom by a Ghanaian with a focus on providing seamless, convenient payment solutions from the diaspora into Africa.
In real-time business value, PayAngel has processed close to USD 100 million in transactions through its main products namely direct cross-border remittances and merchant solutions among other innovative products.
With a vision of seamlessly connecting the world to Africa and Africa to the world in payments and remittances, PayAngel currently facilitates payments from the UK, EU, United States, Canada, and Australia into up to 27 sub-Saharan African countries, notably Ghana, Nigeria, Cote D’Ivoire, Benin, Senegal, and Mali. PayAngel has licenses or distribution channels in these markets and corridors.
The company operates from five office locations in the UK, the US, Canada, Ireland, and Ghana, to deliver convenient and cost-efficient payment solutions to its clients around the world.
PayAngel has been in operation since 2013 whilst CBG has been functioning as a commercial bank since 2018.
The coming together of the two huge brands is expected to result in a great partnership within the remittance space and the synergy generated will give a competitive edge for both internal and external financial services.
The CBG and PayAngel service is available Monday-Saturday.