Fast Pace Transfer starts remittance services in the country

Fast Pace Transfer Limited (Fast Pace), an international remittance organisation, has commenced operations in Ghana with a distinct service to its clients.

The company is expected to enable Ghanaians and other Africans in the Diaspora to meet their monetary commitments in their home countries by sending money from the United Kingdom (UK) and Canada to Ghana, The Gambia and other African countries with ease adding that the funds are terminated into bank accounts, mobile wallets or received as cash pickup at partner locations.

Explaining the uniqueness of the company’s services in a release issued in Accra and signed by the acting Managing Director of the company, Ms Josephine Hutton, the release said: “Our fintech organisation utilises technological advancement to provide custom-made settlement and payment services at a lower cost.

“Many money transfer companies offer Person to Person (P2P) transactions; however, Fast Pace is in the market to offer Person to Business (P2B) and Business to Business (B2B) services, in addition to the person-to-person transactions."

Business licensed

The release said the company’s Payment Systems Provider (PSP) licence issued by the Bank of Ghana empowers it to offer financial technology solutions in areas such as remittances, insurance premium payment support, contributions to investment and pension portfolios.

It added that “the permit also authorises the company to pursue business in merchant aggregation, issuance of customised EMV cards, as well as a deployment of retail payment systems. Furthermore, it offers global remittance services utilising its own uniquely developed innovation platform with a footprint impression in every one of the 16 regions and all district capitals in Ghana through its partner bank, Zenith Bank and Rural and Community Bank network.”

The release said the company also had payout and transaction service points through an extensive network of distribution partners, adding that organisations “can plug into Fast Pace's platform, under its supervision, to provide services to their clients. These exclusive and versatile applications are integrated with the national switch (GHIPPS), facilitating transfers in minutes”.

Future plans

On its future plans, the release said the company had planned to launch its services in the European Union (EU) by the third quarter of this year.

“As consumers increasingly turn to digital forms of managing their finances, the road, it seems, is heading for a full-fledged financial inclusion that will enable a long-term economic and infrastructural growth for the nation,” it said.