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 database
- The uncompetitive nature of the MNOs, etc.
These factors have stalled the growth of foreign remittances in the country. And due to these problems, individuals and businesses in Cote d'Ivoire have few options for a more seamless cross-border transaction. Thankfully, this is where Transfy comes in to save the day.
Introducing Transfy - The Better way to move your money across Africa.
What is Transfy?
Transfy is a cutting-edge payment solution changing the cross-border payments landscape in francophone Africa. By using Transfy, businesses, and individuals in countries such as Ivory Coast, Senegal, Benin Republic, Cameroon, etc., can now make and receive payments in a matter of minutes without worrying about high fees or exchange rates.
As a company that provides cross-border payments and money remittance services, Transfy knows the importance of seamless payments to individuals and businesses across the globe. And with Africa as a focal point, Transfy is gradually paving the way for better and more efficient cross-border payments in Francophone Africa.
Transfy focuses on providing an efficient, cost-effective, and transparent payment solution for African businesses and consumers. And with its web and mobile app, users can now send and receive payments anywhere, anytime. Plus, you can use the solution to settle bills and pay for groceries, flights, and hotels in your local currency.
What Countries Can Use Transfy?
Currently, Transfy is available in the following African countries, including Ghana, Nigeria, Cameroon, South Africa, Rwanda, Uganda, Kenya, Benin Republic, Cote d'Ivoire, and Senegal.
However, we're expanding rapidly and will be available in more countries soon. So if you're traveling or doing business in one of these countries, you can trust Transfy to help you move your monies faster and more efficiently.
With that said: Individuals and businesses in Nigeria, Ghana, Cameroon, and Uganda - can send and receive money to and from all the countries in our supported countries. While people in South Africa, Kenya, Ivory Coast, and the Benin Republic can only receive money.
This means you can send money from Nigeria to Cameroon. Or send money from Ghana to Kenya without limitations. You can also receive money from Cote d'Ivoire to Cameroon, or from South Africa to Nigeria.
What Are The benefits of using Transfy?
Transfy is packed with features and benefits that cut through the clutter to offer a convenient platform for hassle-free payments and money transfers across Africa. The following are the benefits you get to enjoy when you move your money with Transfy
Transfy is a convenient way to make cross-border payments in Africa. With Transfy, you can make payments anywhere, anytime, without worrying about bank hours or foreign exchange rates.
2. Instant Transaction
Transfy eliminates the stress of bank queues and long transfer protocols. You can now enjoy swift, secure, and reliable cross-border transfers to any bank account or mobile wallet available in Cote D'Ivoire. The Transfy mobile app lets you send money on the go, anytime, anywhere.
3. Competitive Rates
Save money and time when you use Transfy for cross-border transactions across Africa. With Transfy, you can enjoy maximum control over your money and expenses without suspicious deductions and charges.
4. Multi-currency Wallet
Transfy’s multi-currency wallet allows you to hold, save or exchange other local African currencies like GHC, UGX, NGN, ZAR, RWF, and KES without worrying about foreign exchange
5. Hi-tech Security
Your money is always safe when you use Transfy. We use the latest security technologies to protect your data and financial information.
6. Enterprise Solutions
Whether you want to send money to your suppliers and business partners, or you want to pay your workers anywhere in the world. Transfy offers small and medium-based businesses a secure and seamless money remittance platform at industry-best rates.
7. Transfy API
Use Transfy API to expand your digital footprint across Africa with our access to over 30% of Mobile Wallets and Bank accounts in Africa. Fintechs and MTOs can integrate payout options to mobile wallets and bank accounts with Transfy API. Developers can also use our APIs to automate payment options on software and digital products with a single line of code.
8. Multiple Payment Options
Whether you want to send money from Nigeria to Cameroon MTN mobile money, or from Ghana to Kenya Mpesa, Transfy got you covered. You can send, receive or withdraw your monies from your local bank account, or mobile money agent of your choice.
How to Use Transfy?
Ready to start using Transfy to send money to your loved ones in francophone Africa? Here's a quick guide on how to get started:
- Download the Transfy Mobile App on Apple or Google Playstore. Or visit www.transfy.io to get started.
- Provide your personal and contact details to sign up and register on our platform.
- Upload the required KYC documents to get verified.
- Enjoy 24/7 access to hassle-free cross-border payments and money transfers.
Move Your Money Without Borders
Cross-border payments should be as fast, efficient, and affordable as possible. And choosing the right cross-border payment company can be a daunting task. So, If you're looking for a fast, easy and affordable way to send money to Africa, Transfy is the solution you've been looking for.
Whether you're living in Cameroon, Senegal, Ivory Coast, or Benin, Transfy offers a user-friendly interface and cost-friendly means to move your money the easy way.