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BOSS Money and UBA Partner to Expand Remittance Options to Nigeria

Collaboration Provides Direct Deposit to Over 20 million UBA Accounts in Nigeria

Newark, NJ, Sept. 19, 2022 — BOSS Money, the money remittance 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 U.S. to Nigeria. The partnership will enable BOSS Money customers to send U.S. dollars for direct deposit at any of the approximately 20 million United Bank for Africa (UBA) accounts in Nigeria.

“Our collaboration enables BOSS Money customers to send money to the UBA bank accounts of family and friends in Nigeria for receipt in a matter of minutes,” said Alfredo O’Hagan, IDT’s SVP for Consumer Payments. “We are delighted to partner with UBA, a trusted leader in personal banking services, to power convenient, reliable, affordable, and timely money transfers to Nigeria.”

Speaking of the partnership, UBAs Head of Personal Banking, Ogechi Altraide, said, “Our alliance with BOSS Money enables customers to enjoy stress-free, seamless transfers to Nigeria. We are very optimistic that our collaboration will significantly enhance remittances to our millions of customers across Nigeria.”

Through the partnership, BOSS Money customers will be able to transfer up to US$100 to Nigeria for as little as US$3.99 or transfer up to US$2,999 for as little as US$6.99 when using the BOSS Money or BOSS Calling apps.

The highly rated BOSS apps are free on the App Store and on Google Play. Senders utilizing either BOSS app or the website for the first time pay no fees on transfers up to US$300. Customers can also send cash directly from BOSS Money retailers across the U.S.

BOSS Money now offers remittances from the U.S. to 50 countries via 1,300 payers at over 315,000 cash pick-up locations in addition to mobile money and direct deposit services.

About IDT Corporation:

IDT Corporation (NYSE: IDT) is a global provider of fintech, cloud communications, and traditional communications services. We help families to 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) point-of-sale network enables independent retailers to operate and process transactions more effectively while providing advertisers and consumer marketers with unprecedented reach into underserved consumer markets. Our BOSS Money international money remittance and mobile top-up services offer convenient and reliable value transfers. Our BOSS Revolution calling service provides dependable voice and messaging communications globally. net2phone‘s unified communications and contact center solutions provide businesses with intelligently integrated cloud communications and collaboration tools across channels and devices. Our IDT Global and IDT Express wholesale offerings enable communications service enterprises to provision and manage international voice and SMS services.

About Africa Global Bank (United Bank for Africa):

UBA is a leading pan-African financial institution, offering banking services to more than thirty-seven million customers across 1,000 business offices and customer touch points in 20 African countries. With presences in New York, London, Paris and the UAE, UBA is connecting people and businesses globally through retail, commercial and corporate banking, innovative cross-border payments and remittances, trade finance and ancillary banking services.

All statements above that are not purely about 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. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks and should be consulted along with this release. To the extent permitted under applicable law, IDT assumes no obligation to update any forward-looking statements.

Bill Ulrey
IDT Investor Relations
Phone: (973) 438-3838

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