On March 1, 2022, Jones Amegbor, the Ghanaian Founder and CEO of PayAngel, was named among the Top 20 Dynamic CEOs of 2022 in the UK Edition by The CEO Publication, per. Highlighted in an article titled “A True Payment Angel for Africans Globally,” the publication praised Amegbor’s rare blend of expertise, stating, “It is not every day that you meet someone who is as technically gifted in Finance and Accounting as he is in Technology… Jones is fluent in all of them and many more,” per. His leadership has positioned PayAngel as a trailblazer in providing affordable, reliable digital payment solutions tailored to African needs, connecting the continent to the global economy.
Amegbor’s Journey and Inspirations
Before founding PayAngel, Amegbor built a robust career in the UK’s financial services sector after earning an MBA in Information Technology, per. As a Fellow of the Association of Chartered Certified Accountants, he managed assets worth £30 billion as a Product Controller at Barclays, earning nominations for the bank’s Future Leaders Programme, per. His subsequent consultancy roles at Lloyds Banking Group and The Co-operative Banking Group honed his skills in financial modeling and process re-engineering, per. Amegbor drew inspiration from Jack Ma, founder of Alibaba, for his resilience, quoting, “Never give up. Today is hard, tomorrow will be worse, but the day after tomorrow will be sunshine,” and from Bob Diamond, ex-CEO of Barclays, for his ability to rally teams, per.
PayAngel’s Innovative Payment Solutions
Founded in 2012, PayAngel, operating under PAYINC GROUP LIMITED, has revolutionized cross-border remittances, facilitating over $100 million in transfers by 2022, per. The company won a $250,000 Remittance Grant Facility from the Governments of Switzerland and Ghana, validating its mission to deliver cost-effective, fast, and reliable payment solutions across Sub-Saharan Africa, per. Amegbor emphasized a customer-centric approach, stating, “We don’t just provide payment rails like others; we see payments as needs to be met, not rails to be laid,” addressing cost and integrity issues in African remittances, per. PayAngel’s offerings include no-fee transfers, market-leading exchange rates, embedded free life insurance, and exceptional customer service, per.
Groundbreaking RemitCare Plan and Market Expansion
PayAngel’s innovation includes the world’s first life insurance embedded in a remittance product, the RemitCare Plan, launched in partnership with Allianz Insurance, per. This free insurance supports eligible beneficiaries in cases of hospitalization or death, aligning with the UN’s SDG 10.c to reduce remittance costs to below 3% by 2030, per. The company also introduced a new application suite in 2022, enhancing its platform for seamless, borderless payments, per. PayAngel expanded into Canada, the U.S., Australia, and seven African countries, including Nigeria, South Africa, and Kenya, with plans to enter Ghana’s peer-to-peer and merchant payment space, per.
Future Vision and Blockchain Integration
Amegbor’s vision includes a borderless wallet to enable seamless, cost-effective money transfers across geographies, per. As a certified Blockchain expert, he is exploring blockchain technology to enhance PayAngel’s offerings, per. The company’s Direct-to-Merchant Remittances (D2MR), launched in November 2022 with UNCDF and EU support, targets Ghana’s financial, educational, and health sectors, per. PayAngel’s collaboration with community groups like churches and alumni associations further tailors solutions for specific needs, per. With a focus on reducing transaction costs and empowering Africa’s diaspora, Amegbor’s leadership continues to drive PayAngel’s growth and impact in 2022.
