Nigeria is home to some of the most talented and ambitious entrepreneurs in Africa and the world at large. They are providing solutions to problems for one of the biggest markets on earth. Sending money remains a complicated, time-consuming, and expensive process butPayday Africa has the vision and the product offerings to liberate Africans and the global diaspora to send and receive money seamlessly at an affordable price.
Payday Africa is a remittance App that enables quick borderless online payments services in Africa, thereby connecting its users with vast opportunities around the world in split seconds. Simply put PaydayAfrica is a fintech application for Africans to send and receive money around the world. Founded by Nigeria’s Favour Ori, in May 2021 and kicked off its beta test in June 2021. The app was launched on Friday 2nd July 2021 and is available on Android and iOS devices.
Payday is a bus stop for anyone looking to move money freely within and beyond Africa while saying goodbye to exorbitant transaction fees and slow wire transfers. Within three weeks of launch, it successfully processed over $1.4 million in transactions. Payday Africa cannot be compared with other platforms when it comes to swift transactions and other creative features it offers. Through the app, you can receive money from anyone and anywhere in the world, control your transactions, request payment in seconds, create virtual cards for online transactions, keep track of your inflow easily, etc.
It is user-friendly, has good features, and is very secure for both iOS and Android phones. It can be used to pay tuition and other fees in the United States, Canada, and the United Kingdom. Payday Africa is also used by foreign businesses such as TalentQL (TechStars), Tupelo, and others to pay their employees in Africa for a variety of services such as payroll, taxes, and compliance. With the payday Africa app, you also can create and manage multiple foreign wallets (with account numbers) USD & NGN (available), GBP & EUR (rolling out soon) as well as buy crypto with as little as $1. Payday users can send money to Cameroon, cote de Ivoire, Ghana, Kenya, Rwanda, South Africa, Uganda, the United Kingdom, and the United States of America.
Payday Africa raised one million dollars in October 2021 to build out what they believe will be the “PayPal” for Africa. The company was backed by several investors including LofyInc, Microtraction, Magic Fund, Ventures Platform, Voltron Capital, CcHub Syndicate, Helicarrier Inc, Greencap Equity, Midlothian Angel Network, Emergence Capital, Olugbenga Agboola (GB), Charles Odita, Eke Eleanya, Adegoke Olubusi, Edmund Olotu, Prosper Otemuyiwa, Dimeji Sofowora, Perseus Mlambo, Abdul Hassan, Onyekachukwu Somtochukwu Eyisi, and a host of other investors. Although the investment round is closed, Payday is still open to meeting interesting players and investors in the Fintech space.Featured Image Source: Innovation Village
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