Moneymie Shuts Down Its Digital Bank Service

Moneymie has paused its digital bank service that enables African immigrants in North America to send and receive money from Nigeria, Ghana and South Africa.

“We are grateful to the thousands of customers that believed in our dream to build a digital bank for immigrants, but unfortunately, that journey has come to an end,” reads a notification on the company’s website.

Although Moneymie is shutting down its B2C services, Technext reports that the fintech company disclosed it would focus on cross-border payments and payouts for business users via its B2B platform and APIs.

The Moneymie App has been removed from Google and Apple play stores, but its B2B platform is active. This development came two months after Michelle Van Staden joined the neobank as CEO.


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