IDT Corporation

Collaboration provides Direct deposit to more than 20 million UBA i accountsnot Nigeria

Newark, N.J., Sept. 19, 2022 (GLOBE NEWSWIRE) — BOSS Silverthe money transfer and payments brand of IDT Corporation (NYSE: IDT) and Africa Global Bank (United Bank for Africa), a leading pan-African financial institution, today announced a collaboration to expand disbursement options for money transfers from the United States to the Nigeria. The partnership will BOSS Silver customers to send US dollars for direct deposit into one of approximately 20 million United Bank for Africa (UBA) accounts in Nigeria.

“Our collaboration allows BOSS Silver customers to send money to UBA bank accounts of family and friends in Nigeria for receipt within minutes,” said Alfredo O’Hagan, IDT’s Senior Vice President for Consumer Payments. “We are delighted to partner with UBA, a trusted leader in personal banking services, to enable convenient, reliable, affordable and fast money transfers to Nigeria.”

Speaking about the partnership, UBA’s Head of Personal Banking, Ogechi Altraide, said: “Our alliance with BOSS Silver allows customers to enjoy smooth and stress-free transfers to Nigeria. We are very optimistic that our collaboration will significantly improve remittances to our millions of customers across Nigeria. »

Thanks to the partnership, BOSS Silver customers will be able to transfer up to $100 to Nigeria for as little as $3.99 or transfer up to $2,999 for as little as $6.99 when using the BOSS Silver Where BSSO Call apps.

Highly rated CHIEF apps are free on the App Store and Google Play. Shippers using either CHIEF app or the bossrevolution.com website for the first time pay no fees on transfers up to 300 USD. Customers can also send money directly from BOSS Silver retailers across the United States

BOSS Silver now offers remittances from the United States to 50 countries via 1,300 payers at more than 315,000 cash pickup locations, in addition to mobile money and direct deposit services.

About IDT Corporation:

IDT Corporation (NYSE:IDT) is a global provider of financial technology, cloud communications and traditional communications services. We help families share, communicate and support each other across international borders. We also enable businesses to transact and communicate with their customers with enhanced intelligence and insight.

Our National Retail Solutions‘ (NRS) enables independent retailers to operate and process transactions more efficiently while providing advertisers and consumer marketers with unprecedented reach into underserved consumer markets. Our BOSS Money international money transfer and mobile recharge services offer convenient and reliable transfers of value. Our BOSS Revolution The call service provides reliable voice and messaging communications around the world. net2phoneUnified communications and contact center solutions provide businesses with intelligently integrated cloud communication and collaboration tools across all channels and devices. Our Global IDT and IDT express wholesale offers enable communications service companies to provide and manage international voice and SMS services.

About Africa Global Bank (United Bank for Africa):

UBA is a leading pan-African financial institution, providing banking services to over thirty-seven million customers through 1,000 business offices and customer touch points in 20 African countries. With operations in New York, London, Paris and the United Arab Emirates, UBA connects people and businesses around the world through innovative retail, commercial and corporate banking, cross-border payments and remittances, trade finance and ancillary banking services.

All of the above statements that do not relate solely to historical facts, including but not limited to those in which we use the words “believe”, “anticipate”, “expect”, “plan” , “intend”, “estimate”, “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although such forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from results. expressed or implied by such statements due to many important factors. Our filings with the SEC provide detailed information about these statements and risks and should be reviewed with this release. To the extent permitted by applicable law, IDT undertakes no obligation to update any forward-looking statements.

Contact:
Bill Ulrey
IDT Investor Relations
Phone: (973) 438-3838
E-mail: [email protected]

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