Belmoney and RwandaCash Partner to Expand EU-Enabled Digital Remittance Services

Belmoney,  Europe’s first Remittance-as-a-Service (RaaS) provider, has announced a strategic partnership with RwandaCash , a financial services provider serving the Rwandan diaspora. The partnership transforms RwandaCash into a fully EU-enabled digital remittance platform powered by Belmoney’s regulated infrastructure, PSD2 licensing, and API-first technology stack.

Remittances remain a vital source of income for Rwanda, reaching a record $554 million in 2023 and accounting for about 3.6% of GDP. These flows support households, education, and small businesses, but high transfer costs continue to limit impact. In early 2025, sending $200 to East Africa cost an average of 9.9%, well above the UN target of 3%.

Through a single API integration, RwandaCash gains access to Belmoney’s Europe-wide payment infrastructure, including PSD2-compliant transactions, automated AML/KYC processes, and real-time FX conversion. This enables faster, more secure, and lower-cost cross-border transfers.

The partnership allows RwandaCash to scale across the European Union without the need for multiple national licenses, positioning it as a pan-European remittance platform. Users are expected to benefit from improved speed, reliability, and reduced fees.

Belmoney said the model demonstrates how regulated infrastructure can help diaspora-focused fintechs scale while improving efficiency in global remittance flows.