Case Study Details - The EDISON Alliance - Access to and Usage of Digital Remittances: A Case Study of Ping Money in The Gambia

Ping Money is a UK-licensed remittance provider and fintech firm that offers a simple service for users to digitally send money to The Gambia in real time.  Ping Money also offers cross–border top-ups for mobile airtime and bill payment services for electric utility service providers. UNCDF has recently partnered with Ping Money to formalize remittances and expand access to payments and financial services in the Gambia, particularly for women and youth. The collaboration will also support Ping Money in adapting, piloting and scaling its digital wallet service, a platform that enables customers to receive remittances and safely store funds digitally and that will offer many Gambians their first opportunity to access formal financial channels.

Impact / Outcome

To date, the collaboration between Ping Money and UNCDF has Improved access by exploring partnerships with banks and credit unions in The Gambia to make it easier for Gambian economic migrants to open and easily deposit funds in savings accounts via Ping Money. Strengthened usage by offering bill payments and broader use cases for a wider variety of domestic payments. Drive financial inclusion by facilitating remittance-linked domestic payments– for migrants and their families in the Gambia.

Funding sources

Private

Key Metrics

Offer users to digitally send money to The Gambia in real time