Money Transfer: Nigerian fintech Grey launches direct payments to MTN MoMo and Orange Money in Cameroon

Nigerian fintech Grey has launched a service in Cameroon allowing direct money transfers in CFA francs to MTN Mobile Money and Orange Money accounts. Users can send funds from their dollar, euro, or pound sterling balances, which are converted to FCFA at the time of transfer, costing $1.80 per transaction. The service permits transfers from 500 to 400,000 FCFA with nearly instant execution. This initiative creates a new payment corridor to Cameroon, positioning Grey as a financial technology company rather than a bank.