Simplifying Remittances for Africa

Reeple.ai is on a mission to simplify remittances for Africans living abroad, addressing the challenges they face in supporting their families and communities back home. With millions of dollars flowing into Sub-Saharan Africa annually, Reeple saw an opportunity to offer a user-friendly platform with transparent pricing and competitive exchange rates, empowering individuals in the diaspora to make a meaningful impact.

Identifying the Challenge

Africans in the diaspora face significant hurdles when sending money back home. High transaction fees, extended processing times, and a lack of transparency are common frustrations. Despite the substantial remittances reaching Sub-Saharan Africa, valued at $54 billion in 2023 according to World Bank data, many challenges persist for both senders and recipients.

Traditional remittance channels often impose steep transaction fees, averaging around 7.9% for a $200 remittance to Africa – notably higher than the global average of 6.8%. Additionally, the prolonged processing times associated with these methods can result in delays in urgent financial assistance. Recognizing these challenges, Reeple is dedicated to addressing them and is actively working to make remittances quicker, more affordable, and more dependable for its users.

Reeple’s Solution

Reeple is dedicated to simplifying the remittance process by prioritizing simplicity, affordability, and efficiency. Here’s how Reeple’s innovative solution addresses common challenges:

• No Transaction Fees: Users can send payments for the diaspora to African countries effortlessly with no transaction fees. Their loved ones receive the full value they deserve, without any deductions.

• Real-time Tracking: Users are able to stay informed every step of the way with Reeple’s real-time transfer tracking feature.

• Global Reach: Users can secure international clients by accepting payments in Canadian Dollars, a currency that offers financial freedom and investment opportunities.

• Swift Withdrawals: It allows users to receive their hard-earned Canadian Dollars directly and swiftly and also ensures that withdrawals are processed efficiently.

Chimoney Implementation and Integration

Reeple enhances its services by utilizing Chimoney's infrastructure, specifically including:

• Chimoney’s Interac Collection API: This enables the secure and efficient collection of funds from Canadian users looking to remit.

• Chimoney’s Cross-border Payment Infrastructure and API: This facilitates smooth cross-border fund transfers, ensuring that funds sent from Canada reach their intended recipients in Africa reliably and securely.

Insights from Reeple's CEO

"We understand the challenges faced by Nigerians abroad who want to send money home securely and efficiently. We also see how hard they work to support their loved ones back home, and believe they don’t have to do this at an exorbitant expense" says Tomi Kolawole, CEO & Co-founder at Reeple. "Our mission is to provide a transparent and cost-effective solution that empowers them to do just that."

Empowering Economic Development

Reeple is empowering individuals to support their families and contribute to economic development in their home countries. As Reeple continues to innovate and expand its reach, the future of remittances looks brighter than ever.

Visit Reeple's website to learn more and start sending money to Africa with confidence, experiencing the convenience and affordability of their remittance platform firsthand.