Transfy

Francophone Africa does not get the same attention as its counterparts regarding digital payments and cross-border remittance. Africa recorded a remittance in-flow of about $50 billion in 2019 alone, which has grown tremendously over the years. This led to the inception of several fintech solutions and  cross-border payment companies   to facilitate seamless cross-border payments in Africa.    However, this sector is quite untapped in countries like Cote d’Ivoire, Benin Republic, Cameroon, Senegal, etc. Cross-border payments in these countries are largely powered by traditional banks and mobile money services, which are saddled with a fair share of loopholes.      Prolonged paperwork, delayed transactions, account restrictions, and high exchange rates are a few challenges facing  cross-border payments  in Francophone Africa. Other problematic factors include:    Excessive forex cost margins Inefficient bank procedures  Underdeveloped KYC requirements Lack of access to the national ID d

Vacationing is a great way to de-stress from the usual hustle and bustle of office work, running a business, and even school work. However, it comes with a lot of budgeting and planning, which can sometimes eat deep into one’s savings. On the other hand, Africa is a lovely tourist destination but with the “tourist’ treatment comes expensive bills and cut-throat charges. With lots of beautiful scenery, delicious meals, and numerous tourist attractions, one can quickly blow up the budget if not careful. Thankfully, this post offers actionable tips on how to plan a trip to Africa on a tight budget. Read along to find out. FAQs On Budget-Friendly Tips to Africa Planning a trip to Africa? These tips will help you make realistic budgets on how to tour Africa without breaking the bank. Is Travelling To Africa Expensive? The cost of travelling to Africa depends on your plan and budget. It can be cheap or expensive depending on what you want and how you want it. However, if you are planning a b

With the advancement of technology in the global eCommerce market, the need for cross-border money transfer has increased tremendously. Sending money across the globe has also become easier than ever. With modern and innovative fintech solutions, a lot of these remittance processes are now more seamless. Fintech players like Transfy, Flutterwave, Wise, Chippercash, etc., help you send and receive money across Africa without rigorous processes and exorbitant charges. These money transfer companies offer a secure, faster, and cheaper alternative to make international payments without having to use foreign exchange transfers.   With that said, are you looking for the best app to send money in Africa?   This article highlights our top 8 picks for best app to transfer money within Africa 2022. Including tips to consider before choosing a money remittance company to work with. Let’s get started.   8 Best Money Transfer Apps To Africa There are lots of emerging Fintech startups that allow yo

 Doesn't it suck to find out you lost your money or valuables to a total stranger you met on the internet? Whether you paid for an item that never got delivered or divulged your bank or card details to a scammer posing as your bank's staff. Numerous online scamming formats exist, and these fraudsters devise new methods daily. In fact, online scams are fast becoming a norm in modern-day Africa. According to Interpol's Online Scams Report, the African continent has an internet penetration rate of 28 percent, but that doesn't deter the high rate of cyber crimes going on daily. Africa loses over $500 million of its GDP per annum to online scams ranging from email scams, romance scams, social media scams, malware scams, and the list goes on. Although, one cannot fully avoid these scams, as online scammers get smarter with their online scamming formats every day. However, telltale signs can help you recognize and avoid being a victim of online scams. This post will explore th

9 Budget-Friendly Tips For Saving Money On International Travels. When you're traveling, every penny counts. So why not try and save money wherever you can? The following are fool-proof tips to save extra costs on international travel . They include: 1. Get Travel Insurance That Covers Medical Expenses and Repatriation One of the best ways to save money on international travel is to get a travel insurance policy that covers your medical expenses and repatriation. When you're living in a foreign country, your health care options may be limited, which means you could end up paying a lot for medical care. A good travel insurance policy will help to offset those costs. In addition, repatriation coverage can be invaluable if you need to be flown back to your home country for medical treatment. So, before you book your next international trip, make sure to compare travel insurance policies and find one that best meets your needs. 2. Use the Right Credit Card Using the right credit c

Imagine being able to send money across Africa in any currency of your choice with just one click of the button? With a multi-currency wallet, you can now stop imagining, and start living your dream. Cross-border payments have become a norm in the global e-commerce industry, and here's why… People can now shop from their favorite online stores, pay bills and send money to any part of the globe through their phones and other smart devices. Because of that, individuals and businesses are choosing comfort and convenience over foreign exchange hassles, lengthy paperwork, and annoying bureaucracies. Multi currency wallets have given individuals and businesses the superpowers to handle their monies in different currencies; seamlessly and conveniently. And just in case you're shopping for the best multi-currency wallet to transfer money within Africa, this article has all the answers you're looking for. In this post, we'll discuss how the multi-currency wallet works, the ben