Transfy is a Fintech startup on a mission to connect individuals and businesses across Africa financially. This is by building a financial infrastructure which enables them to seamlessly and securely send money within Africa
What Is Money Remittances
Speaking of friends and family, remittances have become a vital source of income for many individuals and families with immigrant relatives around the world. Most overseas workers often send money back home to provide additional financial support for their families. But there's more to money remittances than just sending money to friends and families, Right?
What are Virtual Cards?
What is a Virtual Card, And How Does It Work? A virtual card is a digital version of the traditional plastic credit or debit card. It works by creating a unique 16-digit account number for each transaction stored electronically, with an expiration date and security code. They can be used only once or for a limited time, and they mask the actual card numbers to provide extra security.
Stay Safe When Sending Money Online
However, as with all good things, there is also a dark side to using the internet for online payments. According to the Insurance Information Institute, the FBI reported a record of 847,346 complaints of cybercrimes in 2021. This shows the high rate of fraudulent activities happening on the internet - from phishing emails to malicious websites; using today's internet demands a high level of carefulness to avoid getting scammed.
List of Nigerian Banks USSD Transfer Codes
What is USSD Banking and How Does It Work? The acronym USSD stands for "unstructured supplementary service data," and it's a technology that has been around since the early '90s. It was developed by the GSM Association, the trade organization behind most of the world's cell phone standards.
Traditional Banking and Mobile Banking
What is Traditional Banking? The traditional brick and mortar banks, as we well know today, have been in existence since the 1900s,( although banking started way back in 2000 BC), following the need for a more improved system of safekeeping money and storing wealth. It is the most common form of banking.
Evolving Payment Landscapes in Africa
But all that has changed, many thanks to the technology boom and global e-commerce, and cashless policy. Payments have become more seamless and are simpler today than ever before. From online banking to cross-border payment solutions, and down to digital payment platforms, there's just a whole lot of options to choose from when it comes to payments.
How Digital Payments Help Small Business Owners?
From automated invoicing and repayment collections to taking care of danger as well as supplying a secure, protected customer experience, electronic repayment options include worth in the post-COVID environment as well as beyond.
How it Works Making Cross Border Payments?
A payment gateway connects the multiple aspects of the payment mechanism, allowing funds to be safely transferred between the client and merchant, and the respective issuing and collecting banks. It verifies all the transactions and encrypts the confidential financial data sent between the corresponding parties involved. To increase your chances of accessing new markets, whatever gateway you choose must support a wide choice of trading and settlement currencies.