Flutterwave and Xoom Enable Direct Transfers to Nigeria

In Short

• Flutterwave and Xoom, PayPal’s international money transfer service, are working together to enable faster direct transfers into Nigeria.
• Senders can transfer money straight into Nigerian bank accounts, with local settlement in naira.
• The companies say the setup is designed to reduce delays that can happen with cross-border payouts.

What Happened

Flutterwave is partnering with Xoom to support direct money transfers to Nigeria. The collaboration connects Xoom’s global remittance network with Flutterwave’s local payout infrastructure, meaning its on-the-ground banking connections and settlement rails.

Under the arrangement, Xoom transfers are converted by Flutterwave and settled locally in NGN, the Nigerian naira. This enables recipients to get funds in their bank accounts, instead of needing cash pickup or indirect routes.

Flutterwave said the service supports payouts to bank accounts at Access Bank, UBA, Zenith Bank, First Bank of Nigeria, GTBank, and other participating Nigerian banks.

The companies positioned the deal around reliability and speed. Flutterwave CEO Olugbenga “GB” Agboola said Nigerians rely on money from abroad for family support, freelancer income, and other cross-border earnings.

Why It Matters

Nigeria is the biggest remittance recipient in Sub-Saharan Africa. The country received over $20 billion in personal remittances in 2024, according to the announcement.

Even with that volume, receiving international payments into Nigeria can be difficult. Foreign exchange constraints and settlement delays can slow down transfers, increase uncertainty for recipients, and complicate payouts for diaspora workers and freelancers.

By using Flutterwave’s local compliance processes and bank integrations, Xoom can expand in Nigeria without building payout rails from scratch. For users, it can mean simpler bank-to-bank delivery and fewer steps to access funds.

For the wider African fintech market, the deal shows how global remittance providers are leaning on local payment infrastructure players to improve cross-border corridors into high-volume markets like Nigeria.