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What to watch out forMaximum daily limits. Transaction limits depend on how you are sending the money, while a total 24-hour cap of $9,000 applies to all transactions being sent by you out of the US.Changing fees. Depending on where you are sending to, how you are paying and how you are transferring money, your fees may vary. Although a base fee of $3.99 is applied to most transfers, keep an eye on this category when actually completing your transfer to make sure it doesn’t change.No hedging options. WorldRemit only offers one-off transfers, unlike some of its competitors that offer additional tools to help you save money. Hedging tools are most often used to lock in an exchange rate, helping you save money on future transfers if the market shifts against your position.Inconsistent markups. Exchange rates vary through WorldRemit and depend not only on the currency you are sending to but also on the destination country. Expect mid-market markups anywhere from 1-4%.

Easy-to-use website. Signing up and sending money can be done in as little as a few minutes, and support can be accessed through phone, email, live chat and FAQs.Worldwide network. Customers in more than 50 countries can send funds to over 150 countries using a variety of methods, including bank transfers, cash pickup at thousands of locations, door-to-door delivery, delivery to services like Alipay and more.Flexible payment options. Pay with a credit or debit card, from your bank account, through Apple or Google Pay and even with prepaid cards.Fast transfers. Cash pickups, WorldRemit Wallet transfers and airtime top-ups are typically available instantly after sending, while mobile money and bank deposits may take one or more business days to process.

Cash pickups, WorldRemit Wallet transfers and airtime top-ups are typically available instantly after sending, while mobile money and bank deposits may take one or more business days to process.

This is a super exciting time for Egyptian fintechs. For Fawry to reach a market cap of $1 billion within one year of its IPO is quite impressive and is a moment to celebrate. This will help the whole industry and will open more doors for fintechs to receive funds and make partial exits.

Commenting on the news, Okasha told WAYA: “This is a super exciting time for Egyptian fintechs. For Fawry to reach a market cap of $1 billion within one year of its IPO is quite impressive and is a moment to celebrate. This will help the whole industry and will open more doors for fintechs to receive funds and make partial exits.”Fintechs and electronic banking companies have seen a huge increase in demand as a result of the pandemic. Fawry saw an increase of more than 50% of the company’s value before the Covid-19 crisis. This number grew exponentially during the crisis.The company went public on the Egyptian Exchange in August 2019, since then its stock price has increased by over 300%. The initial cost of one share at the company was EGP 6.46.According to Fawry’s website, it handles around 2.1 million transactions daily and collected $2.43 billion last year. It has approximately 20 million customers.

This innovation not only simplifies consumers’ lives, but allows more merchants to become a part of the electronic payments cycle, giving them the opportunity to safely conduct transactions and appeal to consumers who prefer not using cash. We have seen significant growth rates, and have managed to reach up to 1 million transactions per da

When we founded Fawry, an electronic bill payment and presentment company, we were very aware of the gap between card usage and the limited acceptance points in Egypt. Our aim was to extend acceptance channels beyond the traditional card acceptance points to make life easier for consumers in Egypt.

Fawry’s service is playing a key role in revolutionizing the payment industry in Egypt, a country where only 10% of the population of 85 million people has access to formal banking services.

awry collaborated with banks in many other products where direct integration, SaaS or hybrid models were being used to offer products  to both bank customers and Fawry customers.

Fawry is Egypt’s first and largest electronic payment network established in 2008, offering financial services to consumers and businesses through a variety of channels nationwide, Fawry services include but are not limited to electronic bill presentment and payment, alternative digital payments, omnichannel acceptance, supply chain payments, agent banking services, digital SME lending and other varieties of digital solutions for banks, billers and merchants.

The complete suite of services to help your business scaleOnline Payments Accept online payments from Visa, Verve and Mastercard in over 40 currencies. All transactions are PCI DSS compliant, 3D Secure enabled, and processed through an SSL encrypted channel.

Business LoansTraditional sources of financing are rigid, demand collateral, and do not fit your business flow. Take your business to the next level with up to ₦20 million uncollateralized flexible repayment loans.

Funds Transfers & OverdraftsNever let your business run dry again with Optimus. Reliably transfer funds at cheaper rates than the banks and keep your business afloat with an Overdraft when you need liquidity.

SimbaPay is an award winning mobile app transforming the international remittance space. With a focus on extreme speed, convenience and constant innovation. Customers are able to send money to loved ones or even merchants, from wherever they are at any time of day or night. The company is headquartered in London and can be found online at www.SimbaPay.com SimbaPay is licensed and regulated by the Financial Conduct Authority.

SimbaPay is an award winning mobile app transforming the international remittance space. With a focus on extreme speed, convenience and constant innovation.

That’s how mobile money accounts first came about. Mobile money apps don’t require a brick-and-mortar bank, but they otherwise end up functioning a lot like a bank account and debit card would for an American — meaning your average person in Kenya with such an account now has access to most of the same financial services a person in the US does. Mobile money got off the ground early in the developing world, where people used texting-based services before smartphones became common. There were early attempts to set up such systems in the 2000s in South Africa and the Philippines. But the breakthrough was the extraordinary early success of Kenya’s M-Pesa, which actually predates apps like Venmo. (“Pesa” is Swahili for money; the “M” stands for “mobile.”) The project that became M-Pesa started in 2002 when phone companies noticed that they had unintentionally invented something that almost resembled a currency.

Balancing software development of system functionalities for both native iOS and Android, simultaneously, is quite challenging.

Beginning with our Product Discovery Workshop, we collaborated with Paga's product and marketing teams to help identify new core features and areas for improvement.

We have seen improvements in farmers’ livelihoods because we give them a fair price for the commodities they produce and help them with better farming practices so they increase their yields. Seeing farmers being able to pay school fees for their families has given us joy about what we do. Agriculture is the space we should be in. Before AgroCenta farmers were selling to middle men at sometimes ridiculously low prices for maize, for instance. At the time a middle man would buy a 50 kg bag of maize for US$9 (40 cedis) and we would buy it for US$11 (49 cedis). We deal mostly in maize, sorghum and soya beans and have a five year contract with a big organisation that has a constant demand for these commodities. In 2016 we sponsored 400 farmers, the majority of whom were women. We provided them with seed, fertilisers and tractor services. These farmers had an assured market. Everything they produced got purchased by us at prevailing market prices, enabling them sell quickly and earning higher.

Start-up basée à Cape Town en Afrique du Sud, JUMO propose à ses clients de souscrire à des prêts et des produits d’épargne depuis leur téléphone portable.

Start-up basée à Cape Town en Afrique du Sud, JUMO propose à ses clients de souscrire à des prêts et des produits d’épargne depuis leur téléphone portable.

AgroCenta provides an end-to-end solution for smallholder farmers in the post-harvest value chain from farm to market, leveraging on technology to create impact. AgroCenta's services include a market linkage platform (AgroTrade) linking farmers directly to buyers and removing exploitative buying, TruckR which is an on-demand trucks and logistics services (uber for trucks), AgroPay which is a financial inclusion plaform for the rural unbanked smallholder farmer.

EthSwitch has an objective to work as international gateway for all banks. When the project is fully completed, over 50 e-Payment products and services will be supported in EthSwitch covering card delivery channels like ATM, POS, mobile, internet, and voice. EthioPay is the brand given to the National e-Payment Switch of Ethiopia.

Amongst the future activities is to include mobile as part of the financial inclusion policy. Another active area is the recent launch of the domestic card called EthioPay. Across a national population of 100 million, there are 2.5 million card holders and 40 million mobile users. Sufficient opportunity for Bekele and his team in the time to come.

Since May this year the number of inter-bank transactions has been growing. This is expected to increase as the Ethiopian population becomes aware of the interoperability and ease of use of using cards in any bank’s ATM machine. Along the way there have been some transactions declines due to connectivity failures and those limitations are being addressed

The Smartel Money customers and services include retail banking, individuals, insurance agents, retail grocery, retail clothing, retail cell phone services and utility services among others. These include checkout services such as the Smartel Money Point of sales system (sPOS); the Smartel Money Mobile point of sales systems (smPOS). These systems have access to the Smartel Money central engine for processing payments. “Businesses owners can finally give true convenience to customers by using My Wallet as a contactless payment option. They can also take advantage of our free business tools which include, point of sale, human resource management, and customer relationship management,” Mr Nchai said.

Machine learning is a critical component of this process, as it allows us to enhance our predictive ability to better identify these qualifying customers. As a result, we are making significant strides towards our goal of creating the world’s leanest and lowest-cost banking infrastructure. This helps our bank partners offer loans at the lowest possible rate, and it helps our customers to achieve higher-yield savings. We’ve proven that our model works. Twelve million customers in Africa and Asia have saved or borrowed on the JUMO platform, and roughly 70% of these customers are micro and small businesses. We’re incredibly proud of our progress so far – but we know there’s more we can do.

To test our approach, we looked at Ghana, running new and advanced machine learning algorithms on signals associated with a pool of lending applicants. The goal was to identify combinations of signals — from income size and deposit frequency to mobile phone battery life and mobile wallet transaction patterns — that would serve as more accurate indicators of likely fraud than existing models.

MyWallet is a financial technology (fintech) product that allows for payments and money transfers to be made through modern information technology platforms such as mobile phones.Mobile money or electronic money is defined by the Mobile Money Guidelines issued by the CBL as payment instruments that contain monetary value that is paid in advance by the user to the money issuer.

the popular mobile money transfer program, came to be in Kenya. It’s narrated by Michael Joseph, the managing director of mobile money at Vodafone and the program’s founder.

The animation was produced as part of a series of online courses designed and delivered by the USAID Mobile Solutions Team, QED, and TechChange, a DC-based organization that specializes in online training for international development.

Over the last four years, our service has allowed the Ethiopian population to access the following services using their mobile phones: Health advice (HelloDoctor)Market access (HelloMarket / HelloGebeya)Labour market access (HelloJobs / HelloSera)Legal advice (HelloLawyer / HelloTebeka)Mobile Trade service (HelloBroker/ HelloDelela)And, since February 2015, in partnership with select Ethiopian banks and micro finance institutions;Financial Inclusion (HelloCash)

To help unlock the potential of Ethiopia through the digitalization of essential services, such as finance, healthcare and education. To help drive sustainable and inclusive growth though digitalization. We believe digitalization will lower transaction costs and bring essential services to the reach of the poor. It bypasses the conventional time consuming and capital intensive build-up of fixed assets (banks branches, school buildings and clinics).

ICT platform for mobile banking: micro money transfer (P2P), pay my bill, send local/international remittances, online payment solutions, buy calling credit. Ethiopia is one of the most underbanked countries, only 5% of the population has a bank account. Currently 617 bank branches in Ethiopia are serving 85 million people. Most rural areas lack banking infrastructure. Innovation: send money directly to anyone with a mobile phone, a free bank account for the receiver is opened promptly.

BELCASH TECHNOLOGY SOLUTIONS PLC is located in Addis Ababa, Ethiopia and is part of the Information Technology Services Industry. BELCASH TECHNOLOGY SOLUTIONS PLC has 110 employees at this location and generates $12.21 million in sales (USD).