Fintech or financial technology seems to be in the news all the time these days. Some of the amazing ideas coming out of this field have revolutionized how people across Africa earn, spend, save and even transfer money.
Fintech start-ups and firms are taking advantage of this tremendous opportunity to innovate new services. We are seeing technologies such as e-banking growing in leaps and bounds, digital channels offered by firms such as Upesi Money Transfer are on the rise. Mobile wallets are also being used to bring financial inclusion and empowering people in developing markets where conventional bank coverage is uneven.
Upesi Money Transfer Limited is one of such fintech firms taking advantage of this opportunity. Upesi was Incorporated in 2015 but started operations in January 2016 with a view of carrying out money transfer operations and cater for people living in the diaspora and needed a safe, efficient and reliable means of sending money to their loved ones back at home.
The company has presence in the East African and west African region with a vision to become Africa’s number one remittance solution.
It offers a wide range of services including Bank deposits where clients can receive instant bank transactions to their banks accounts in Kenya, Uganda, Tanzania, Rwanda, Nigeria, Ghana and Ethiopia, Cash Pick Ups where clients can pick cash from any of Upesi’s branches or agents in Kenya, Uganda, Tanzania, Rwanda and Ethiopia. Upesi also offers Mobile Wallets services where clients can receive money on their phones instantly through its mobile money partners in Kenya, Uganda, Tanzania, Rwanda and Ghana. Its Direct Bill Payments service also allows clients to pay utility bills anytime, from anywhere in the world.
Using Upesi Money Transfer is not hard. All customers will need Just choose the country, enter the amount, select the mode i.e cash, mobile wallet account or bank, enter the recipient details and send.
It is clear that the financial services industry has seen remarkable changes and remittances, or international money transfers are one branch of financial services where fintech has a far-reaching effect. Operators like Upesi have entered the marketplace and developed global businesses on the strength of digital enablement and particularly mobile commerce.