Group items tagged

Fawry gets CBE nod to partner with state-owned bank for transfer service: E-payments platform Fawry has received preliminary approval from the Central Bank of Egypt (CBE) to set up a bank transfer service for Egyptian expats; the service will be offered in partnership with an unnamed state-owned bank, CEO Ashraf Sabry tells Al Mal. Fawry has been in talks with several local and regional banks — including the National Bank of Egypt (NBE), Bank of Alexandria, Banque du Caire, and ADIB — to set up the remittances service for Egyptians living in the Gulf since last year, former managing director Mohamed Okasha said in December, saying at the time that the service would initially be rolled out in the UAE, Kuwait, and Saudi Arabia. Remittances, particularly from expats in the GCC, are a key source of foreign currency for Egypt and helped to narrow its current account deficit through the worst of the pandemic in 3Q2019-2020.

A Kenyan-owned digital money transfer firm, SimbaPay, is taking not only the local but also the international money remittance sector by storm.The London-based firm, started with the aim of helping out Kenyans living in the diaspora pay bills through M-Pesa, has over the years grown into a full-fledged money transfer firm joining the likes of Western Union and MoneyGram in the market.Unlike conventional players, SimbaPay strives to make money transfer painless to both the sender and recipient.The tech firm allows citizens residing in the European Union to send money home instantly through its application.People with a bank account, debit or credit card use mobile phones or tablets to access the app and transfer money to recipients’ mobile money wallets such as M-Pesa or MTN mobile money or bank account.

“We are able to roll out new countries on our platform at a low cost which then allows us to pass on these savings to customers. We can do this due to our technology that allows transactions to be processed at breakneck speed with zero human interaction,” said SimbaPay chief executive officer Nyasinga Onyancha.The firm’s compliance and onboarding of customers is handled within the app, making it significantly easier for customers to sign up and start sending money to loved ones within minutes.

“We are able to roll out new countries on our platform at a low cost which then allows us to pass on these savings to customers. We can do this due to our technology that allows transactions to be processed at breakneck speed with zero human interaction,” said SimbaPay chief executive officer Nyasinga Onyancha.

A uniquely integrated international fintech ecosystem that allows customers to make online money transfers using mobile money, bank account transfers, and cash pick-up services. We built Africa’s first truly global super app to help drive our ‘financial inclusion for all’ vision. A multi-service technology platform that brings together digital payment solutions, on-demand services, instant messaging, and digital media services in a single, easy-to-use mobile application. In some of our key markets across Africa, we have been able to drive financial inclusion from under 10% to 70-80% through solutions that have helped to create thousands of jobs and business opportunities for young entrepreneurs.

Digital money transfer service WorldRemit has partnered with Chinese smartphone maker Huawei to enable the international transfer of money across Huawei's mobile services in Africa, the companies said on Tuesday. Mobile money services that allow customers to transfer funds using their phones have proved hugely popular in parts of Africa, particularly where people have less access to traditional bank accounts.

Mobile money services that allow customers to transfer funds using their phones have proved hugely popular in parts of Africa, particularly where people have less access to traditional bank accounts.

M-PESA's International Money Transfer (IMT) service allows anyone wishing to send money to Kenya to visit one of several Safaricom IMT partners (such as Post Finance, World Remit, and Western Union) and send money to an M-PESA mobile phone in Kenya. Money transfers are received almost instantly, and at no expense to the recipient.

M-PESA is the result of a partnership between Vodafone and Safaricom, a Kenyan mobile network operator. M-PESA's International Money Transfer (IMT) service allows anyone wishing to send money to Kenya to visit one of several Safaricom IMT partners (such as Post Finance, World Remit, and Western Union) and send money to an M-PESA mobile phone in Kenya.

Through the digital platforms, Prime Bank aims to make available a one stop solution to its customers in terms of funds transfer. With the inclusion of SimbaPay, the customers will be able to send money to friends and family across the world using their mobile phones.

To access the service, customers will need to login to the bank’s mobile banking app – PrimeMobi, then click on International Money Transfer icon on the homescreen. After confirming the amount to be sent, the sender’s bank account will be debited, and money credited to the beneficiary instantly.

SimbaPay (http://www.SimbaPay.com) is revolutionizing the remittance space through its official announcement of raising the single transaction limit to a whopping $45,000. This is substantially higher than the previous transaction limit of $3,000. According to Victor Karanja, Head of Operations at SimbaPay, sending money home and buying property across Africa has just become a whole lot easier. “A pain point for customers in the past has been having to undertake multiple transfers to complete a single purchase.” “A key risk with multiple transfers was exchange rate fluctuation. Sending up to $45,000 with just our mobile app will protect senders from the fluctuation that arises when one splits up the transfer,” said Karanja.

Their website allows individuals from North America and Europe to send payments for electricity bills, health insurance, school fees, and more to individuals in Ethiopia. Ethiopay fits the unique financial technology needs of Ethiopians. They hope to help Ethiopians in the diaspora reach individuals at home by providing seamless payments. Hadgu and Yohannes entered this year’s competition to share their innovative venture and gain exposure.

Their website allows individuals from North America and Europe to send payments for electricity bills, health insurance, school fees, and more to individuals in Ethiopia. Ethiopay fits the unique financial technology needs of Ethiopians. They hope to help Ethiopians in the diaspora reach individuals at home by providing seamless payments. Hadgu and Yohannes entered this year’s competition to share their innovative venture and gain exposure.

They are a centralized global payment platform that currently enables users a simple and convenient way to transfer and/or purchase cross border bill pay, money transfer, mobile data, and mobile minutes between the United States and Ethiopia. Ethiopay co-founders Daniel Hadgu (B.B.A. ‘20) and Minas Yohannes (B.B.A. ‘20) are Eritrean descent while Michael Gizachew is of Ethiopian descent and they all struggled to send funds between the U.S. and their family abroad. Together they created a way to affordably and efficiently transfer money overseas.

Smartel Money Ltd is company that is rooted in the Kingdom of Lesotho. The aim and focus of Smartel money is to provide mobile payment services, savings & credit and monetary transfers and serve thus as an alternative to traditional banking systems. We aim to provide to individuals, institutions, organizations, multi-industry sectors and governments with the cutting edge, fresh and innovative financial management system in this ever changing world. We also aim to improve the quality of cloud computing (payment as a service) and interaction between computers and people to achieve their payment processes.

Smartel Money Ltd is company that is rooted in the Kingdom of Lesotho. The aim and focus of Smartel money is to provide mobile payment services, savings & credit and monetary transfers and serve thus as an alternative to traditional banking systems.

More than seven million Kenyan customers and businesses can now transfer money internationally through SimbaPay Family Bank, a leading financial institution in Kenya, has partnered with SimbaPay so that its customers can make instant money transfers to China

Digital money transfer provider, SimbaPay, has announced the launch of its money transfer service to Nigeria. Using the SimbaPay app or website, Nigerians living in the UK can send money to Nigeria at zero charge using SimbaPay. The payment can be made to any bank account or mobile phone in Nigeria instantly.

Digital money transfer service WorldRemit has launched a new cash pickup service in Algeria and Lebanon, according to a press release.In Lebanon, funds recipients can collect cash from more than 130 branches of Wings International. Algerian recipients can collect cash from any branch of Trust Bank Algeria across the country. With the WorldRemit app or website, people in more than 50 countries can send instant, secure money transfers to more than 125 destinations, the release said.

In Lebanon, funds recipients can collect cash from more than 130 branches of Wings International. Algerian recipients can collect cash from any branch of Trust Bank Algeria across the country. With the WorldRemit app or website, people in more than 50 countries can send instant, secure money transfers to more than 125 destinations, the release said.

With the WorldRemit app or website, people in more than 50 countries can send instant, secure money transfers to more than 125 destinations, the release said.

Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Lebanon.

Prime Bank, a leading private bank in Kenya, has partnered with London-based FinTech SimbaPay, to launch an instant international money transfer service via the bank’s digital platform PrimeMobi.Through SimbaPay, Prime Bank customers will now be able to instantly and securely send money directly to bank accounts or mobile wallets across 15 countries in Africa, Europe, and Asia including India, United Kingdom, China (WeChat Pay), Germany, Uganda among others, the company said in a media statement.

Hello Paisa is brought to you by the same people behind Hello Mobile – a revolutionary mobile network service provider trusted by thousands of migrants across South Africa.Our track record guarantees the safety and efficiency of every cash transaction, because we’re passionate about your peace of mind.The service we offer is 100% legal and completely secure; we’re one of just a few international companies that’s been issued with an SA Reserve Bank license to do what we do.

When you’re living in a different country for work,the last thing you need to deal with is a complicated bank account.Introducing HelloPaisa: the fastest, easiest way to send cash to your loved ones.All you need is your phone!

Mukuru, which is based in the city of Cape Town, said that it had seen a rise in users during the coronavirus pandemic – caused in part by customers choosing to prioritise remittances to family. Remittance services were designated as essential during the coronavirus lockdowns in South Africa – offering firms such as Mukuru a lifeline as customers in some verticals sought continued services. The firm has also paired up with global money transfer brand WorldRemit to offer what was described by Mukuru’s chief executive as “broader, deeper pay-out networks” that tackled the network’s “white space” issues.

M-Pesa was launched in 2007, and it’s still going strong. The concept of a phone-based money transfer service originated back in 2002, when researchers realized the popularity of the market for phone airtime — individuals in a handful of African nations often transferred it to friends and family for subsequent use or resale.

When M-Pesa (launched by Safaricom) made its debut a few years later, it had initially been conceived as a solution for microfinancing — allowing institutions to distribute and collect loan payments without the hassle of cash. However, during this pilot, its widespread adoption in a myriad of alternative use cases caused the company to reconsider and relaunch with a focus on ensuring individuals could send money to their families and execute payments.

SimbaPay uses advanced security technology and leading global partners to ensure the safety and security of your data and transaction

Founded in 2004, Mukuru has established a powerful brand affinity with customers built on trust, reliability, and local engagement. The company has grown to operate over 90 remittance corridors, enabling more than 5 million individuals to receive funds to cover living expenses, school fees, medical expenses, and utility bills. Mukuru is supported by world-class regulatory and compliance systems, highly scalable technology architecture, and a comprehensive sales and distribution network.